Lennar (NYSE:LEN) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Lennar (NYSE:LEN) from a hold rating to a buy rating in a report issued on Friday.

LEN has been the topic of a number of other research reports. Argus boosted their target price on shares of Lennar from $175.00 to $180.00 and gave the company a buy rating in a report on Thursday, June 27th. BTIG Research dropped their price target on shares of Lennar from $177.00 to $175.00 and set a buy rating on the stock in a research note on Thursday, June 20th. JPMorgan Chase & Co. dropped their price target on shares of Lennar from $157.00 to $154.00 and set a neutral rating on the stock in a research note on Thursday, June 20th. Bank Of America (Bofa) upped their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a neutral rating in a research note on Friday. Finally, Keefe, Bruyette & Woods upped their price target on shares of Lennar from $183.00 to $230.00 and gave the stock an outperform rating in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $174.61.

Lennar Stock Performance

NYSE:LEN opened at $182.19 on Friday. The stock has a market cap of $50.03 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61. The firm’s fifty day simple moving average is $176.53 and its 200 day simple moving average is $164.01. Lennar has a twelve month low of $102.90 and a twelve month high of $193.80. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its 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. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter in the previous year, the business posted $3.91 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, research analysts predict that Lennar will post 14.16 EPS for the current year.

Hedge Funds Weigh In On Lennar

Several institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in shares of Lennar in the 2nd quarter worth approximately $6,069,000. Clearbridge Investments LLC lifted its stake in shares of Lennar by 21.1% in the 2nd quarter. Clearbridge Investments LLC now owns 165,931 shares of the construction company’s stock worth $24,868,000 after purchasing an additional 28,938 shares during the period. Delphi Management Inc. MA lifted its stake in shares of Lennar by 3.4% in the 2nd quarter. Delphi Management Inc. MA now owns 10,726 shares of the construction company’s stock worth $1,608,000 after purchasing an additional 352 shares during the period. 3Chopt Investment Partners LLC bought a new position in shares of Lennar in the 2nd quarter worth approximately $904,000. Finally, Kimelman & Baird LLC bought a new position in shares of Lennar in the 2nd quarter worth approximately $124,000. 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.