Lennar (NYSE:LEN) PT Raised to $190.00 at Bank Of America (Bofa)

Lennar (NYSE:LEN) had its target price boosted by stock analysts at Bank Of America (Bofa) from $171.00 to $190.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “neutral” rating on the construction company’s stock. Bank Of America (Bofa)’s price objective points to a potential upside of 4.29% from the stock’s previous close.

A number of other brokerages also recently weighed in on LEN. BTIG Research dropped their target price on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Evercore ISI upped their price target on shares of Lennar from $237.00 to $240.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. lowered their target price on Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Finally, Argus raised their price target on Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Lennar presently has an average rating of “Hold” and an average target price of $174.61.

Lennar Stock Down 5.3 %

Shares of NYSE:LEN opened at $182.19 on Friday. The firm has a 50 day simple moving average of $176.53 and a 200 day simple moving average of $163.99. Lennar has a 52 week low of $102.90 and a 52 week high of $193.80. 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 company has a market cap of $50.03 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61.

Lennar (NYSE:LEN) last issued 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. The business had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. Lennar’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.91 earnings per share. As a group, research analysts expect that Lennar will post 14.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LEN. Pacer Advisors Inc. raised its position in Lennar by 15.1% in the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after purchasing an additional 396,951 shares in the last quarter. D1 Capital Partners L.P. raised its holdings in shares of Lennar by 428.9% in the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after buying an additional 1,962,447 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Lennar by 20.9% during the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after buying an additional 348,553 shares during the period. Nordea Investment Management AB boosted its stake in Lennar by 3.6% in the 1st quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock valued at $303,585,000 after buying an additional 60,713 shares in the last quarter. Finally, Eminence Capital LP raised its stake in Lennar by 14.6% during the second quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after acquiring an additional 83,316 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

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.