Lennar (NYSE:LEN) Earns “In-Line” Rating from Evercore ISI

Lennar (NYSE:LEN)‘s stock had its “in-line” rating restated by investment analysts at Evercore ISI in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They currently have a $131.00 price target on the construction company’s stock, down from their prior price target of $159.00. Evercore ISI’s target price would suggest a potential upside of 11.20% from the company’s previous close.

LEN has been the subject of several other research reports. UBS Group decreased their price target on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Bank of America decreased their target price on Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods downgraded Lennar from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $152.00 to $141.00 in a research report on Tuesday, March 11th. The Goldman Sachs Group decreased their price objective on Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Finally, Citigroup dropped their target price on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Fifteen equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $151.07.

Lennar Price Performance

LEN opened at $117.81 on Monday. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $125.47 and a 200 day moving average of $152.27. Lennar has a 52-week low of $111.26 and a 52-week high of $187.61. The stock has a market cap of $31.28 billion, a P/E ratio of 8.22, a PEG ratio of 1.24 and a beta of 1.69.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.44 billion. During the same period in the prior year, the business posted $2.57 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Lennar will post 12.48 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Verition Fund Management LLC boosted its holdings in Lennar by 147.6% in the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock worth $12,978,000 after acquiring an additional 41,264 shares in the last quarter. Polianta Ltd acquired a new stake in Lennar in the 4th quarter worth approximately $900,000. Nordea Investment Management AB grew its position in Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after purchasing an additional 397,492 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Lennar by 13.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 30,278 shares of the construction company’s stock valued at $5,677,000 after purchasing an additional 3,674 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of Lennar by 71.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 14,327 shares of the construction company’s stock worth $2,686,000 after buying an additional 5,981 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

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.