Barclays set a $63.00 price target on Lennar (NYSE:LEN) in a research note issued to investors on Friday. The brokerage currently has a buy rating on the construction company’s stock.
A number of other analysts have also commented on LEN. Zacks Investment Research raised Lennar from a hold rating to a strong-buy rating and set a $59.00 price objective on the stock in a research note on Thursday, June 28th. Citigroup reaffirmed a buy rating and set a $65.00 price objective on shares of Lennar in a research note on Wednesday, June 27th. ValuEngine lowered Lennar from a hold rating to a sell rating in a research note on Tuesday, June 26th. Wedbush reaffirmed a neutral rating and set a $56.00 price objective (down previously from $62.00) on shares of Lennar in a research note on Wednesday, June 27th. They noted that the move was a valuation call. Finally, Bank of America increased their price objective on Lennar from $90.00 to $93.00 and gave the company a buy rating in a research note on Wednesday, June 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $71.56.
Lennar stock opened at $51.16 on Friday. The company has a current ratio of 11.81, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $17.21 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 0.45 and a beta of 1.25. Lennar has a fifty-two week low of $48.71 and a fifty-two week high of $72.17.
Lennar (NYSE:LEN) last posted its earnings results on Tuesday, June 26th. The construction company reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $1.13. The company had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.10 billion. Lennar had a return on equity of 12.82% and a net margin of 6.49%. Lennar’s revenue was up 67.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. equities analysts predict that Lennar will post 6.1 EPS for the current year.
In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $52.12, for a total value of $1,042,400.00. Following the sale, the chief operating officer now directly owns 212,333 shares of the company’s stock, valued at approximately $11,066,795.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.50% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in Lennar by 475.0% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,990 shares of the construction company’s stock worth $157,000 after buying an additional 2,470 shares during the last quarter. Ayalon Holdings Ltd. acquired a new stake in Lennar in the 2nd quarter worth about $158,000. Doyle Wealth Management acquired a new stake in Lennar in the 1st quarter worth about $209,000. Seven Eight Capital LP acquired a new stake in Lennar in the 1st quarter worth about $214,000. Finally, Usca Ria LLC acquired a new stake in Lennar in the 2nd quarter worth about $203,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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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