Lennar (NYSE:LEN) Price Target Increased to $190.00 by Analysts at Bank Of America (Bofa)

Lennar (NYSE:LEN) had its price target hoisted by Bank Of America (Bofa) from $171.00 to $190.00 in a report published on Friday. They currently have a neutral rating on the construction company’s stock.

Other analysts also recently issued research reports about the stock. Raymond James downgraded shares of Lennar from an outperform rating to a market perform rating in a research report on Tuesday, July 2nd. Royal Bank of Canada reissued an underperform rating and set a $145.00 target price on shares of Lennar in a research note on Thursday, June 20th. The Goldman Sachs Group cut shares of Lennar from a buy rating to a neutral rating and cut their price target for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. Citigroup reissued a neutral rating and issued a $164.00 price objective (down from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. Finally, Argus upped their target price on Lennar from $175.00 to $180.00 and gave the company a buy rating in a research report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $179.72.

Lennar Trading Up 2.0 %

Shares of Lennar stock opened at $185.77 on Friday. The firm’s 50 day moving average is $177.07 and its 200 day moving average is $164.16. The firm has a market capitalization of $51.01 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61. Lennar has a 1 year low of $102.90 and a 1 year high of $193.80. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The business had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the previous year, the company posted $3.91 EPS. Lennar’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities research analysts forecast that Lennar will post 14.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. D1 Capital Partners L.P. boosted its stake in Lennar by 428.9% during the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after purchasing an additional 1,962,447 shares during the last quarter. Pacer Advisors Inc. boosted 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 valued at $452,886,000 after buying an additional 396,951 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Lennar in the 1st quarter worth about $61,807,000. Jacobs Levy Equity Management Inc. raised its position in Lennar by 157.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock worth $98,889,000 after buying an additional 351,698 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Lennar by 20.9% during the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after acquiring an additional 348,553 shares during the period. Institutional investors own 81.10% of the company’s stock.

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.