Royal Bank of Canada Increases Lennar (NYSE:LEN) Price Target to $160.00

Lennar (NYSE:LEN) had its target price lifted by equities research analysts at Royal Bank of Canada from $145.00 to $160.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “underperform” rating on the construction company’s stock. Royal Bank of Canada’s price objective suggests a potential downside of 13.17% from the stock’s previous close.

A number of other equities analysts also recently commented on LEN. Citigroup restated a “neutral” rating and issued a $164.00 target price (down from $174.00) on shares of Lennar in a research note on Tuesday, July 2nd. Evercore ISI upped their price objective on Lennar from $237.00 to $240.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods raised their target price on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Raymond James lowered shares of Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Finally, StockNews.com raised shares of Lennar from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Two research 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. According to data from MarketBeat, Lennar has an average rating of “Hold” and an average price target of $179.72.

Lennar Price Performance

Shares of LEN opened at $184.26 on Monday. 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 firm has a market cap of $50.60 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.61 and a beta of 1.61. Lennar has a 52 week low of $102.90 and a 52 week high of $193.80. The stock has a 50 day moving average of $177.36 and a 200-day moving average of $164.30.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating 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 firm had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the previous 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. As a group, analysts forecast that Lennar will post 14.16 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LEN. Rise Advisors LLC grew its holdings in shares of Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after acquiring an additional 121 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in Lennar during the 1st quarter worth about $30,000. New Covenant Trust Company N.A. purchased a new stake in Lennar during the first quarter valued at about $32,000. Redmont Wealth Advisors LLC acquired a new position in shares of Lennar in the first quarter worth about $35,000. Finally, Fortitude Family Office LLC increased its position in shares of Lennar by 223.6% in the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after acquiring an additional 161 shares in the last quarter. 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.