Lennar (NYSE:LEN) Price Target Raised to $90.00

Lennar (NYSE:LEN) had its price objective hoisted by equities researchers at Bank of America from $80.00 to $90.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Bank of America‘s price objective would indicate a potential upside of 17.11% from the stock’s current price.

Several other brokerages also recently issued reports on LEN. Raymond James upped their price objective on Lennar from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday. Barclays upped their price objective on shares of Lennar from $70.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday. Credit Suisse Group increased their price objective on shares of Lennar from $62.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, June 17th. ValuEngine upgraded shares of Lennar from a “strong sell” rating to a “sell” rating in a report on Monday, August 3rd. Finally, BTIG Research increased their price target on shares of Lennar from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, September 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. Lennar currently has an average rating of “Buy” and an average price target of $75.03.

NYSE:LEN opened at $76.85 on Wednesday. The stock has a market cap of $23.70 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.59 and a beta of 1.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 14.21. Lennar has a 1 year low of $25.42 and a 1 year high of $80.00. The stock has a 50-day simple moving average of $75.17 and a 200-day simple moving average of $59.24.

Lennar (NYSE:LEN) last announced its earnings results on Monday, September 14th. The construction company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.61. Lennar had a net margin of 9.30% and a return on equity of 13.08%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same quarter in the prior year, the firm earned $1.59 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts predict that Lennar will post 6.27 EPS for the current year.

In other Lennar news, insider David M. Collins sold 40,000 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $65.00, for a total value of $2,600,000.00. Following the completion of the transaction, the insider now owns 66,803 shares in the company, valued at approximately $4,342,195. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Diane J. Bessette sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $65.61, for a total transaction of $656,100.00. Following the completion of the sale, the chief financial officer now owns 258,922 shares in the company, valued at approximately $16,987,872.42. The disclosure for this sale can be found here. In the last three months, insiders sold 145,000 shares of company stock worth $9,792,450. Company insiders own 8.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning boosted its holdings in shares of Lennar by 17.5% in the first quarter. Creative Planning now owns 5,811 shares of the construction company’s stock valued at $222,000 after acquiring an additional 865 shares in the last quarter. Private Capital Group LLC boosted its stake in Lennar by 126.0% during the first quarter. Private Capital Group LLC now owns 773 shares of the construction company’s stock valued at $30,000 after buying an additional 431 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Lennar by 1,777.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 82,589 shares of the construction company’s stock worth $3,155,000 after acquiring an additional 78,191 shares during the period. Swiss National Bank raised its position in Lennar by 21.1% in the first quarter. Swiss National Bank now owns 1,086,248 shares of the construction company’s stock worth $41,495,000 after acquiring an additional 189,400 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its holdings 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 valued at $113,000 after acquiring an additional 1,381 shares during the last quarter. 81.62% of the stock is currently owned by 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, 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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