Evercore ISI Trims Lennar (NYSE:LEN) Target Price to $236.00

Lennar (NYSE:LEN) had its price target decreased by analysts at Evercore ISI from $240.00 to $236.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Evercore ISI’s price target would suggest a potential upside of 27.55% from the stock’s previous close.

Several other analysts have also commented on LEN. Argus lifted their price objective on Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Barclays boosted their price target on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday. Wedbush reissued a “neutral” rating and issued a $144.00 price objective on shares of Lennar in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a report on Monday. Finally, Wells Fargo & Company increased their price target 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 investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Lennar currently has a consensus rating of “Hold” and a consensus target price of $179.72.

Lennar Stock Performance

NYSE:LEN traded up $2.83 during mid-day trading on Monday, reaching $185.02. The company’s stock had a trading volume of 947,976 shares, compared to its average volume of 2,085,442. The firm’s fifty day moving average price is $176.53 and its two-hundred day moving average price is $164.01. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock has a market cap of $50.81 billion, a P/E ratio of 12.58, a PEG ratio of 1.61 and a beta of 1.61. Lennar has a 12-month low of $102.90 and a 12-month high of $193.80.

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, 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 company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter in the prior year, the firm earned $3.91 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts forecast that Lennar will post 14.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Lennar

A number of hedge funds and other institutional investors have recently modified their holdings of LEN. Centaurus Financial Inc. grew its holdings in Lennar by 5.5% during the 2nd quarter. Centaurus Financial Inc. now owns 2,866 shares of the construction company’s stock valued at $430,000 after buying an additional 149 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Lennar during the 2nd quarter valued at approximately $6,069,000. Clearbridge Investments LLC increased its position in Lennar by 21.1% in the second 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 last quarter. Delphi Management Inc. MA raised its stake in Lennar by 3.4% during the second quarter. Delphi Management Inc. MA now owns 10,726 shares of the construction company’s stock valued at $1,608,000 after purchasing an additional 352 shares in the last quarter. Finally, 3Chopt Investment Partners LLC bought a new position in Lennar during the second quarter valued at $904,000. 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.