Lennar (NYSE:LEN) Price Target Raised to $150.00

Lennar (NYSE:LEN) had its target price lifted by research analysts at JMP Securities from $135.00 to $150.00 in a research note issued to investors on Tuesday, FlyOnTheWall reports. JMP Securities’ price objective suggests a potential upside of 28.17% from the stock’s current price.

Other equities analysts have also issued reports about the company. Evercore ISI increased their price objective on Lennar from $161.00 to $164.00 in a report on Monday. Keefe, Bruyette & Woods boosted their price objective on Lennar from $130.00 to $145.00 in a research note on Friday, June 16th. StockNews.com assumed coverage on shares of Lennar in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Citigroup cut their price objective on shares of Lennar from $148.00 to $139.00 and set a “buy” rating for the company in a report on Monday, September 11th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Lennar in a report on Wednesday, May 31st. They issued a “sell” rating and a $105.00 price target for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lennar currently has a consensus rating of “Hold” and an average price target of $131.88.

Lennar Trading Up 2.0 %

Shares of Lennar stock opened at $117.03 on Tuesday. The stock has a market capitalization of $33.64 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 1.52 and a beta of 1.48. Lennar has a 52 week low of $69.90 and a 52 week high of $133.24. The stock has a 50 day moving average price of $122.48 and a two-hundred day moving average price of $114.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.25 and a current ratio of 7.09.

Lennar (NYSE:LEN) last posted its earnings results on Friday, September 15th. The construction company reported $3.91 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.39. The company had revenue of $8.73 billion for the quarter, compared to analyst estimates of $8.49 billion. Lennar had a return on equity of 16.41% and a net margin of 11.66%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $5.18 earnings per share. As a group, equities analysts anticipate that Lennar will post 12.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lennar news, Director Amy Banse acquired 859 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average cost of $117.65 per share, for a total transaction of $101,061.35. Following the transaction, the director now owns 8,972 shares in the company, valued at $1,055,555.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Amy Banse bought 859 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average price of $117.65 per share, with a total value of $101,061.35. Following the purchase, the director now owns 8,972 shares of the company’s stock, valued at approximately $1,055,555.80. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Diane J. Bessette sold 10,790 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $121.46, for a total transaction of $1,310,553.40. Following the completion of the transaction, the chief financial officer now directly owns 270,556 shares of the company’s stock, valued at $32,861,731.76. The disclosure for this sale can be found here. Insiders have acquired 2,634 shares of company stock valued at $321,855 over the last ninety days. 9.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Lennar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Portside Wealth Group LLC bought a new position in shares of Lennar in the 2nd quarter worth about $215,000. Delphi Management Inc. MA purchased a new position in shares of Lennar in the 2nd quarter worth about $1,373,000. Hook Mill Capital Partners LP purchased a new stake in Lennar during the 2nd quarter valued at about $82,000. Virginia Retirement Systems ET AL bought a new stake in Lennar during the 2nd quarter valued at about $37,192,000. Finally, Comerica Bank purchased a new position in Lennar in the second quarter worth about $41,170,000. 79.87% of the stock is owned by hedge funds and other institutional investors.

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.