Lennar (NYSE:LEN) PT Raised to $230.00 at Keefe, Bruyette & Woods

Lennar (NYSE:LEN) had its price target lifted by equities researchers at Keefe, Bruyette & Woods from $183.00 to $230.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 29.46% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. Argus raised their target price on Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Royal Bank of Canada reissued an “underperform” rating and set a $145.00 target price on shares of Lennar in a research note on Thursday, June 20th. Wells Fargo & Company upped their target price on Lennar from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Citigroup restated a “neutral” rating and issued a $164.00 target price (down previously from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. Finally, StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Lennar has an average rating of “Hold” and an average price target of $172.06.

Lennar Price Performance

Shares of NYSE LEN traded down $0.72 during trading on Wednesday, reaching $177.66. The company had a trading volume of 206,983 shares, compared to its average volume of 2,072,680. The stock has a market capitalization of $48.79 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.65 and a beta of 1.60. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. Lennar has a twelve month low of $102.90 and a twelve month high of $186.60. The stock has a 50-day moving average price of $167.17 and a two-hundred day moving average price of $161.49.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.18. The firm had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.57 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. As a group, sell-side analysts predict that Lennar will post 14.16 earnings per share for the current year.

Hedge Funds Weigh In On Lennar

Large investors have recently modified their holdings of the stock. D1 Capital Partners L.P. raised its holdings in 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 valued at $362,685,000 after acquiring an additional 1,962,447 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after buying an additional 396,951 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in Lennar in the 1st quarter valued at approximately $61,807,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Lennar by 157.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock valued at $98,889,000 after acquiring an additional 351,698 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in Lennar by 20.9% in the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock valued at $302,084,000 after buying an additional 348,553 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

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.