Lennar (NYSE:LEN) Price Target Raised to $210.00

Lennar (NYSE:LEN) had its price target hoisted by research analysts at JMP Securities from $170.00 to $210.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “market outperform” rating on the construction company’s stock. JMP Securities’ target price would suggest a potential upside of 13.97% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday. Barclays boosted their price objective on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group lowered Lennar from a “buy” rating to a “neutral” rating and lowered their target price for the company from $180.00 to $174.00 in a report on Monday, July 22nd. Wells Fargo & Company lifted their price target on Lennar from $195.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Royal Bank of Canada increased their price objective on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $181.94.

Lennar Stock Performance

LEN opened at $184.26 on Wednesday. The stock has a 50-day moving average of $177.36 and a 200-day moving average of $164.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar has a 52-week low of $102.90 and a 52-week high of $193.80. The company has a market cap of $50.60 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter last year, the company posted $3.91 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities research analysts forecast that Lennar will post 14.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lennar

A number of hedge funds have recently made changes to their positions in LEN. Boston Partners grew its stake in Lennar by 21.5% during the first quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after buying an additional 4,207 shares during the last quarter. Integrated Advisors Network LLC increased its holdings in Lennar by 177.3% during the 4th quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock valued at $4,659,000 after purchasing an additional 19,985 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services raised its position in Lennar by 331.8% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock valued at $2,069,000 after purchasing an additional 9,246 shares during the last quarter. Grayhawk Investment Strategies Inc. acquired a new position in Lennar in the fourth quarter worth $838,000. Finally, Norden Group LLC bought a new stake in shares of Lennar during the first quarter worth $5,592,000. Institutional investors and hedge funds 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.