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.
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.
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