Lennar (NYSE:LEN) Price Target Raised to $120.00 at Wedbush

Lennar (NYSE:LEN) had its target price boosted by Wedbush from $110.00 to $120.00 in a research note issued to investors on Wednesday morning, The Fly reports. Wedbush currently has an outperform rating on the construction company’s stock.

Several other analysts have also recently commented on LEN. Evercore ISI raised their target price on shares of Lennar from $121.00 to $160.00 and gave the stock an outperform rating in a research note on Friday, June 18th. Seaport Res Ptn reiterated a neutral rating on shares of Lennar in a research note on Monday, July 19th. JPMorgan Chase & Co. upgraded shares of Lennar from a neutral rating to an overweight rating and raised their price objective for the company from $115.00 to $141.00 in a research note on Friday, June 18th. They noted that the move was a valuation call. BTIG Research raised their price objective on shares of Lennar from $127.00 to $131.00 and gave the company a buy rating in a research note on Wednesday. Finally, Barclays raised their price objective on shares of Lennar from $105.00 to $110.00 and gave the company an equal weight rating in a research note on Friday, June 18th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $110.72.

NYSE LEN opened at $98.07 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 11.02 and a quick ratio of 1.53. The firm’s fifty day moving average price is $103.39 and its 200 day moving average price is $100.43. The company has a market capitalization of $30.73 billion, a price-to-earnings ratio of 9.09 and a beta of 1.50. Lennar has a 12 month low of $69.41 and a 12 month high of $110.61.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Sunday, September 19th. The construction company reported $4.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.27 by $1.25. Lennar had a net margin of 13.83% and a return on equity of 16.82%. The company had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $7.26 billion. During the same period last year, the firm posted $2.12 EPS. Lennar’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, sell-side analysts forecast that Lennar will post 12.7 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Lennar by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 9,675,131 shares of the construction company’s stock worth $961,225,000 after buying an additional 381,936 shares in the last quarter. Maj Invest Holding A S grew its holdings in Lennar by 38.5% in the second quarter. Maj Invest Holding A S now owns 3,876,509 shares of the construction company’s stock valued at $385,129,000 after purchasing an additional 1,077,964 shares during the period. Smead Capital Management Inc. grew its holdings in Lennar by 14.1% in the second quarter. Smead Capital Management Inc. now owns 1,640,246 shares of the construction company’s stock valued at $162,958,000 after purchasing an additional 202,219 shares during the period. GQG Partners LLC purchased a new stake in Lennar in the second quarter valued at approximately $150,197,000. Finally, AQR Capital Management LLC grew its holdings in Lennar by 64.7% in the second quarter. AQR Capital Management LLC now owns 1,165,291 shares of the construction company’s stock valued at $115,771,000 after purchasing an additional 457,922 shares during the period. Institutional investors and hedge funds own 80.87% of the company’s stock.

Lennar Company Profile

Lennar Corp. is a homebuilder company, which engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other.

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