Lennar (NYSE:LEN) Given New $160.00 Price Target at Royal Bank of Canada

Lennar (NYSE:LEN) had its price objective upped by analysts at Royal Bank of Canada from $145.00 to $160.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “underperform” rating on the construction company’s stock. Royal Bank of Canada’s target price suggests a potential downside of 13.29% from the company’s current price.

A number of other brokerages also recently issued reports on LEN. Wedbush reissued a “neutral” rating and issued a $144.00 price target on shares of Lennar in a report on Friday. JMP Securities reaffirmed a “market outperform” rating and issued a $170.00 price target on shares of Lennar in a report on Thursday, June 20th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday. Keefe, Bruyette & Woods upped their target price on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Finally, BTIG Research dropped their price target on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $175.44.

Lennar Stock Performance

NYSE:LEN traded up $2.33 on Monday, reaching $184.52. 237,288 shares of the company’s stock were exchanged, compared to its average volume of 2,081,589. The stock has a fifty day simple moving average of $176.53 and a 200-day simple moving average of $164.01. Lennar has a 52 week low of $102.90 and a 52 week high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. The firm has a market cap of $50.67 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 1.61 and a beta of 1.61.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The firm 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 business posted $3.91 earnings per share. The business’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts predict that Lennar will post 14.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its position in Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after buying an additional 396,951 shares during the period. D1 Capital Partners L.P. raised its stake in shares of Lennar by 428.9% during the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after acquiring an additional 1,962,447 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Lennar by 20.9% during the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after purchasing an additional 348,553 shares during the period. Nordea Investment Management AB increased its holdings in Lennar by 3.6% during the 1st quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock valued at $303,585,000 after purchasing an additional 60,713 shares during the period. Finally, Eminence Capital LP lifted its holdings in Lennar by 14.6% in the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after buying an additional 83,316 shares during the period. 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.