Lennar’s (LEN) “Neutral” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their neutral rating on shares of Lennar (NYSE:LEN) in a report released on Friday, Benzinga reports. The firm currently has a $144.00 price target on the construction company’s stock.

A number of other analysts have also weighed in on the stock. Raymond James lowered shares of Lennar from an outperform rating to a market perform rating in a report on Tuesday, July 2nd. Wells Fargo & Company boosted their target price on Lennar from $195.00 to $205.00 and gave the company an overweight rating in a research note on Monday, September 9th. BTIG Research dropped their price target on Lennar from $177.00 to $175.00 and set a buy rating for the company in a research note on Thursday, June 20th. JPMorgan Chase & Co. reduced their price objective on shares of Lennar from $157.00 to $154.00 and set a neutral rating on the stock in a research report on Thursday, June 20th. Finally, JMP Securities reaffirmed a market outperform rating and issued a $170.00 target price on shares of Lennar in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $179.72.

Lennar Stock Up 2.0 %

LEN opened at $185.77 on Friday. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The business’s fifty day simple moving average is $177.07 and its 200 day simple moving average is $164.16. Lennar has a 52 week low of $102.90 and a 52 week high of $193.80. The stock has a market cap of $51.01 billion, a PE ratio of 12.63, a P/E/G ratio of 1.61 and a beta of 1.61.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The firm had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same period in the previous year, the business posted $3.91 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, research analysts expect that Lennar will post 14.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lennar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC grew its stake in Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after purchasing an additional 121 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Lennar during the first quarter valued at $30,000. New Covenant Trust Company N.A. bought a new stake in shares of Lennar in the first quarter valued at about $32,000. Redmont Wealth Advisors LLC purchased a new stake in Lennar in the first quarter worth about $35,000. Finally, Fortitude Family Office LLC grew its holdings in Lennar by 223.6% during the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after acquiring an additional 161 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.