Lennar (NYSE:LEN) PT Lowered to $236.00 at Evercore ISI

Lennar (NYSE:LEN) had its price target reduced by Evercore ISI from $240.00 to $236.00 in a research note published on Monday, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

A number of other research analysts have also issued reports on LEN. JPMorgan Chase & Co. boosted their price objective on Lennar from $154.00 to $173.00 and gave the company a neutral rating in a research report on Monday. Royal Bank of Canada boosted their price target on shares of Lennar from $145.00 to $160.00 and gave the company an underperform rating in a report on Monday. StockNews.com raised shares of Lennar from a hold rating to a buy rating in a report on Friday, September 20th. Wedbush reissued a neutral rating and set a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. Finally, Bank Of America (Bofa) raised their price target on shares of Lennar from $171.00 to $190.00 and gave the company a neutral rating in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $181.94.

Lennar Trading Down 1.3 %

LEN opened at $181.86 on Monday. Lennar has a 12-month low of $102.90 and a 12-month high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The stock has a market capitalization of $49.94 billion, a PE ratio of 12.37, a P/E/G ratio of 1.71 and a beta of 1.61. The firm’s fifty day moving average price is $177.36 and its 200 day moving average price is $164.30.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same period in the previous year, the company earned $3.91 earnings per share. Lennar’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, research analysts expect that Lennar will post 14.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Lennar

Institutional investors and hedge funds have recently modified their holdings of the stock. Centaurus Financial Inc. lifted its stake in Lennar by 5.5% in the second quarter. Centaurus Financial Inc. now owns 2,866 shares of the construction company’s stock valued at $430,000 after acquiring an additional 149 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Lennar in the 2nd quarter valued at $6,069,000. Clearbridge Investments LLC boosted its holdings in Lennar by 21.1% in the second quarter. Clearbridge Investments LLC now owns 165,931 shares of the construction company’s stock worth $24,868,000 after purchasing an additional 28,938 shares in the last quarter. Delphi Management Inc. MA raised its holdings in Lennar by 3.4% during the second quarter. Delphi Management Inc. MA now owns 10,726 shares of the construction company’s stock valued at $1,608,000 after buying an additional 352 shares in the last quarter. Finally, 3Chopt Investment Partners LLC acquired a new stake in shares of Lennar in the second quarter worth about $904,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.