Lennar (LEN) PT Raised to $73.00

Lennar (NYSE:LEN) had its price target hoisted by investment analysts at Citigroup from $70.00 to $73.00 in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the construction company’s stock. Citigroup’s price target points to a potential upside of 18.54% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. Wells Fargo raised Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 target price for the company in a research note on Tuesday, January 2nd. Zacks Investment Research cut Lennar from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Royal Bank of Canada set a $82.00 target price on Lennar and gave the company a “buy” rating in a research note on Friday, January 12th. JPMorgan Chase reissued an “overweight” rating and issued a $77.00 target price on shares of Lennar in a research note on Tuesday, February 13th. Finally, Mizuho raised Lennar from a “neutral” rating to a “buy” rating in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.80.

NYSE:LEN opened at $61.58 on Thursday. Lennar has a 1 year low of $49.34 and a 1 year high of $72.17. The company has a quick ratio of 1.67, a current ratio of 8.42 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $15,074.22, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 0.63 and a beta of 1.23.

Lennar (NYSE:LEN) last posted its earnings results on Wednesday, April 4th. The construction company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.35. Lennar had a return on equity of 13.73% and a net margin of 6.84%. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the firm earned $0.59 earnings per share. The company’s revenue was up 27.5% on a year-over-year basis. equities research analysts anticipate that Lennar will post 5.48 earnings per share for the current year.

In related news, CFO Bruce E. Gross sold 9,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $72.00, for a total transaction of $648,000.00. Following the sale, the chief financial officer now owns 346,043 shares in the company, valued at $24,915,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $69.43, for a total value of $347,150.00. Following the sale, the chief financial officer now owns 361,043 shares in the company, valued at approximately $25,067,215.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 155,000 shares of company stock worth $10,811,650. Corporate insiders own 8.50% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in Lennar during the fourth quarter worth about $103,000. First Personal Financial Services bought a new stake in Lennar during the fourth quarter worth about $140,000. Independence Bank of Kentucky bought a new stake in Lennar during the fourth quarter worth about $153,000. NuWave Investment Management LLC bought a new stake in Lennar during the fourth quarter worth about $203,000. Finally, Gotham Asset Management LLC bought a new stake in Lennar during the fourth quarter worth about $207,000. Institutional investors and hedge funds own 88.73% of the company’s stock.

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Lennar Company Profile

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.

Analyst Recommendations for Lennar (NYSE:LEN)

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