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

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

LEN has been the subject of several other reports. JPMorgan Chase & Co. cut their price objective on Lennar from $157.00 to $154.00 and set a neutral rating for the company in a research report on Thursday, June 20th. Evercore ISI increased their price objective on Lennar from $237.00 to $240.00 and gave the company an outperform rating in a research note on Monday, July 15th. BTIG Research cut their target price on shares of Lennar from $177.00 to $175.00 and set a buy rating for the company in a research note on Thursday, June 20th. Wells Fargo & Company raised their price target on shares of Lennar from $195.00 to $205.00 and gave the stock an overweight rating in a research note on Monday, September 9th. Finally, Royal Bank of Canada reissued an underperform rating and issued a $145.00 price objective on shares of Lennar in a research report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $174.61.

Lennar Stock Performance

Shares of LEN stock opened at $182.19 on Thursday. 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 stock has a market cap of $50.03 billion, a PE ratio of 12.39, a P/E/G ratio of 1.61 and a beta of 1.61. Lennar has a 1 year low of $102.90 and a 1 year high of $193.80. The stock has a fifty day moving average price of $176.53 and a 200 day moving average price of $164.01.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The business had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same period in the previous year, the firm earned $3.91 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that Lennar will post 14.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lennar

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