Lennar (NYSE:LEN) Price Target Increased to $196.00 by Analysts at Citigroup

Lennar (NYSE:LEN) had its price objective lifted by Citigroup from $164.00 to $196.00 in a report released on Monday morning, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Several other research firms also recently weighed in on LEN. Royal Bank of Canada lifted their target price on shares of Lennar from $145.00 to $160.00 and gave the stock an underperform rating in a research note on Monday. Wedbush reiterated a neutral rating and issued a $144.00 price objective on shares of Lennar in a research note on Friday, September 20th. BTIG Research dropped their target price on Lennar from $177.00 to $175.00 and set a buy rating on the stock in a research report on Thursday, June 20th. Bank Of America (Bofa) lifted their price target on Lennar from $171.00 to $190.00 and gave the company a neutral rating in a research report on Friday, September 20th. Finally, Barclays increased their price objective on Lennar from $177.00 to $210.00 and gave the stock an overweight rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $181.94.

Lennar Trading Down 1.3 %

Shares of LEN stock opened at $181.86 on Monday. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The firm has a market cap of $49.94 billion, a P/E ratio of 12.36, a PEG ratio of 1.71 and a beta of 1.61. The company has a 50 day moving average of $177.36 and a 200-day moving average of $164.30. Lennar has a 12-month low of $102.90 and a 12-month high of $193.80.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same period in the previous year, the company posted $3.91 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts anticipate that Lennar will post 14.13 earnings per share for the current year.

Hedge Funds Weigh In On Lennar

Several institutional investors have recently modified their holdings of the company. Lakewood Asset Management LLC lifted its position in Lennar by 0.8% in the 2nd quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after buying an additional 70 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of Lennar by 1.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after acquiring an additional 73 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in shares of Lennar by 5.7% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock valued at $207,000 after purchasing an additional 74 shares in the last quarter. Quotient Wealth Partners LLC raised its position in Lennar by 5.0% in the 2nd quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after purchasing an additional 74 shares during the period. Finally, BBR Partners LLC lifted its stake in Lennar by 3.4% in the second quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock worth $364,000 after purchasing an additional 79 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

About Lennar

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.