Lennar (NYSE:LEN) Given New $173.00 Price Target at JPMorgan Chase & Co.

Lennar (NYSE:LEN) had its target price hoisted by JPMorgan Chase & Co. from $154.00 to $173.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 6.11% from the company’s current price.

LEN has been the subject of a number of other research reports. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and reduced their target price for the company from $180.00 to $174.00 in a report on Monday, July 22nd. Wedbush reissued a “neutral” rating and set a $144.00 price objective on shares of Lennar in a research report on Friday, September 20th. Bank Of America (Bofa) upped their price objective on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Bank of America upped their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Finally, BTIG Research lowered their price objective 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 equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lennar currently has a consensus rating of “Hold” and an average target price of $179.72.

Lennar Price Performance

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

Lennar (NYSE:LEN) last posted its earnings results 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 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 analyst estimates of $9.14 billion. During the same period last year, the company earned $3.91 earnings per share. Lennar’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities analysts forecast that Lennar will post 14.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Lakewood Asset Management LLC raised its stake in shares of Lennar by 0.8% during the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after purchasing an additional 70 shares during the last quarter. NorthCrest Asset Manangement LLC increased its stake in shares of Lennar by 1.5% during the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after acquiring an additional 73 shares during the period. Aaron Wealth Advisors LLC lifted its position in Lennar by 5.7% in the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock valued at $207,000 after purchasing an additional 74 shares during the period. Quotient Wealth Partners LLC increased its position in Lennar by 5.0% during the 2nd quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after purchasing an additional 74 shares during the period. Finally, BBR Partners LLC lifted its holdings in shares of Lennar by 3.4% in the 2nd quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock valued at $364,000 after buying an additional 79 shares during the period. 81.10% of the stock is currently 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.