Lennar (NYSE:LEN) Price Target Raised to $196.00 at Citigroup

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

A number of other research firms have also recently issued reports on LEN. Argus lifted their price target on Lennar from $175.00 to $180.00 and gave the company a buy rating in a report on Thursday, June 27th. Zelman & Associates raised Lennar from a neutral rating to an outperform rating in a research note on Monday. JMP Securities reissued a market outperform rating and set a $170.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Keefe, Bruyette & Woods upped their target price on shares of Lennar from $183.00 to $230.00 and gave the company an outperform rating in a research note on Wednesday, September 4th. Finally, Raymond James cut shares of Lennar from an outperform rating to a market perform rating in a research report on Tuesday, July 2nd. Two 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. According to data from MarketBeat.com, Lennar presently has a consensus rating of Hold and a consensus target price of $179.72.

Lennar Stock Performance

Shares of NYSE LEN opened at $185.77 on Monday. The firm has a market cap of $51.01 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 1.61 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. Lennar has a 52 week low of $102.90 and a 52 week high of $193.80. The business’s 50-day simple moving average is $177.07 and its 200-day simple moving average is $164.16.

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

Hedge Funds Weigh In On Lennar

Institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. grew its position 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 purchasing an additional 396,951 shares in the last quarter. D1 Capital Partners L.P. grew its position in Lennar by 428.9% during 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 acquiring an additional 1,962,447 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Lennar by 20.9% in the second 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 period. Nordea Investment Management AB raised its stake in shares of Lennar by 3.6% during the first quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock valued at $303,585,000 after acquiring an additional 60,713 shares during the last quarter. Finally, Eminence Capital LP lifted its holdings in Lennar by 14.6% during the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after buying an additional 83,316 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.