Lennar (NYSE:LEN) Given New $65.00 Price Target at BTIG Research

Lennar (NYSE:LEN) had its price objective cut by investment analysts at BTIG Research to $65.00 in a report issued on Thursday, March 28th, The Fly reports. The brokerage currently has a “positive” rating on the construction company’s stock. BTIG Research’s target price points to a potential upside of 22.85% from the company’s previous close.

Several other research firms have also recently commented on LEN. Citigroup cut their price target on Lennar from $62.00 to $55.00 and set a “buy” rating for the company in a report on Friday, January 4th. Buckingham Research assumed coverage on Lennar in a report on Friday, January 11th. They issued a “buy” rating for the company. They noted that the move was a valuation call. Royal Bank of Canada set a $53.00 price target on Lennar and gave the company a “buy” rating in a report on Thursday, January 10th. Barclays set a $52.00 price target on Lennar and gave the company a “buy” rating in a report on Thursday, January 10th. Finally, Deutsche Bank upped their price target on Lennar to $56.00 and gave the company a “buy” rating in a report on Thursday, January 10th. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Lennar presently has an average rating of “Buy” and a consensus price target of $57.27.

Shares of NYSE LEN traded up $1.00 during trading hours on Thursday, hitting $52.91. 2,888,687 shares of the company’s stock were exchanged, compared to its average volume of 4,231,977. Lennar has a 1-year low of $37.29 and a 1-year high of $57.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 14.77. The stock has a market capitalization of $17.10 billion, a PE ratio of 8.33, a P/E/G ratio of 0.70 and a beta of 1.32.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, March 27th. The construction company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.01). Lennar had a return on equity of 13.04% and a net margin of 8.39%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the firm posted $1.11 EPS. Lennar’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities research analysts forecast that Lennar will post 5.42 EPS for the current fiscal year.

In related news, President Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $48.94, for a total transaction of $978,800.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 8.43% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Lennar by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 31,160,634 shares of the construction company’s stock worth $1,445,931,000 after acquiring an additional 1,099,188 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Lennar by 5,332.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,346,825 shares of the construction company’s stock worth $111,000 after acquiring an additional 4,266,802 shares during the last quarter. Abrams Bison Investments LLC bought a new stake in Lennar during the 4th quarter worth approximately $115,281,000. Sound Shore Management Inc. CT bought a new stake in Lennar during the 4th quarter worth approximately $105,318,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in Lennar by 0.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,588,417 shares of the construction company’s stock worth $101,336,000 after acquiring an additional 12,453 shares during the last quarter. Institutional investors and hedge funds own 84.86% 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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.

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