Lennar (NYSE:LEN) Price Target Raised to $196.00

Lennar (NYSE:LEN) had its price objective increased by Citigroup from $164.00 to $196.00 in a research report released on Monday, Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

Several other equities analysts also recently issued reports on LEN. 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. Keefe, Bruyette & Woods lifted their target price on Lennar from $183.00 to $230.00 and gave the stock an outperform rating in a report on Wednesday, September 4th. Zelman & Associates raised Lennar from a neutral rating to an outperform rating in a research note on Monday. JPMorgan Chase & Co. upped their target price on Lennar from $154.00 to $173.00 and gave the company a neutral rating in a report on Monday. Finally, Bank of America raised their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a neutral rating in a report on Thursday, September 19th. Two research 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.com, the company has an average rating of Hold and an average target price of $181.94.

Lennar Stock Down 1.3 %

Shares of NYSE:LEN opened at $181.86 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar has a 52-week low of $102.90 and a 52-week high of $193.80. The company has a market capitalization of $49.94 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. The company has a fifty day moving average of $177.36 and a 200-day moving average of $164.30.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in shares of Lennar by 15.1% during the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after purchasing an additional 396,951 shares during the period. D1 Capital Partners L.P. raised its holdings in Lennar by 428.9% during the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after buying an additional 1,962,447 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Lennar by 20.9% in the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after buying an additional 348,553 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Lennar by 3.6% during the first quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock valued at $303,585,000 after buying an additional 60,713 shares during the last quarter. Finally, Eminence Capital LP increased its position in shares of Lennar by 14.6% during the second quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after acquiring an additional 83,316 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

About Lennar

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.