Lennar (NYSE:LEN) had its price target hoisted by equities research analysts at Bank of America from $80.00 to $90.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. Bank of America‘s target price indicates a potential upside of 17.11% from the company’s current price.
Other analysts also recently issued research reports about the stock. Barclays upped their price target on shares of Lennar from $70.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods raised their price objective on Lennar from $56.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, June 17th. Seaport Global Securities downgraded Lennar from a “buy” rating to a “neutral” rating in a research note on Monday, July 13th. Credit Suisse Group raised their price target on shares of Lennar from $62.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, June 17th. Finally, Zacks Investment Research upgraded shares of Lennar from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a report on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. Lennar presently has an average rating of “Buy” and a consensus target price of $75.03.
LEN stock opened at $76.85 on Wednesday. The business’s 50-day moving average price is $75.17 and its two-hundred day moving average price is $59.24. The company has a current ratio of 14.21, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. Lennar has a 1-year low of $25.42 and a 1-year high of $80.00. The firm has a market cap of $23.70 billion, a PE ratio of 11.43, a P/E/G ratio of 1.59 and a beta of 1.64.
Lennar (NYSE:LEN) last announced its quarterly earnings results on Monday, September 14th. The construction company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.61. The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.53 billion. Lennar had a net margin of 9.30% and a return on equity of 13.08%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $1.59 earnings per share. On average, analysts forecast that Lennar will post 6.27 earnings per share for the current year.
In other news, VP Mark Sustana sold 40,000 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $76.87, for a total transaction of $3,074,800.00. Following the completion of the sale, the vice president now directly owns 67,167 shares of the company’s stock, valued at $5,163,127.29. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Diane J. Bessette sold 5,000 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $61.01, for a total transaction of $305,050.00. Following the completion of the transaction, the chief financial officer now directly owns 277,775 shares in the company, valued at approximately $16,947,052.75. The disclosure for this sale can be found here. Insiders sold 145,000 shares of company stock valued at $9,792,450 in the last three months. Insiders own 8.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Creative Planning grew its holdings in Lennar by 17.5% during the first quarter. Creative Planning now owns 5,811 shares of the construction company’s stock worth $222,000 after buying an additional 865 shares in the last quarter. Private Capital Group LLC grew its stake in shares of Lennar by 126.0% in the 1st quarter. Private Capital Group LLC now owns 773 shares of the construction company’s stock worth $30,000 after acquiring an additional 431 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Lennar by 1,777.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 82,589 shares of the construction company’s stock valued at $3,155,000 after purchasing an additional 78,191 shares during the last quarter. Swiss National Bank lifted its position in shares of Lennar by 21.1% during the first quarter. Swiss National Bank now owns 1,086,248 shares of the construction company’s stock valued at $41,495,000 after purchasing an additional 189,400 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd grew its position in Lennar by 86.3% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 2,982 shares of the construction company’s stock worth $113,000 after purchasing an additional 1,381 shares in the last quarter. Institutional investors own 81.62% of the company’s stock.
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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.
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