Lennar (NYSE:LEN) Price Target Raised to $190.00 at Bank of America

Lennar (NYSE:LEN) had its price objective hoisted by Bank of America from $171.00 to $190.00 in a research note released on Thursday, Benzinga reports. Bank of America currently has a neutral rating on the construction company’s stock.

Several other equities research analysts have also issued reports on LEN. The Goldman Sachs Group lowered Lennar from a buy rating to a neutral rating and lowered their price objective for the company from $180.00 to $174.00 in a research note on Monday, July 22nd. JMP Securities reaffirmed a market outperform rating and set a $170.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Citigroup reissued a neutral rating and issued a $164.00 target price (down previously from $174.00) on shares of Lennar in a research note on Tuesday, July 2nd. Wedbush reaffirmed a neutral rating and set a $144.00 price target on shares of Lennar in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company increased their price objective on shares of Lennar from $195.00 to $205.00 and gave the stock an overweight rating in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $174.61.

Lennar Stock Down 5.3 %

NYSE LEN opened at $182.19 on Thursday. The stock has a 50 day moving average price of $176.53 and a 200-day moving average price of $163.99. Lennar has a one year low of $102.90 and a one year high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. The company has a market capitalization of $50.03 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.61 and a beta of 1.61.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The business had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $3.91 EPS. As a group, equities analysts predict that Lennar will post 14.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Lennar

Institutional investors have recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. boosted its holdings in shares of Lennar by 5.5% in the 4th quarter. Gilbert & Cook Inc. now owns 4,053 shares of the construction company’s stock valued at $604,000 after buying an additional 211 shares in the last quarter. Gladstone Institutional Advisory LLC acquired a new position in shares of Lennar during the fourth quarter worth $218,000. Clearbridge Investments LLC lifted its holdings in shares of Lennar by 9.1% during the 4th quarter. Clearbridge Investments LLC now owns 31,158 shares of the construction company’s stock valued at $4,644,000 after purchasing an additional 2,595 shares during the last quarter. Dai ichi Life Insurance Company Ltd boosted its position in shares of Lennar by 27.8% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 23,010 shares of the construction company’s stock worth $3,429,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Lennar by 53.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 33,925 shares of the construction company’s stock worth $5,056,000 after buying an additional 11,851 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

About Lennar

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.