Lennar (NYSE:LEN) Given New $173.00 Price Target at JPMorgan Chase & Co.

Lennar (NYSE:LEN) had its price objective lifted by JPMorgan Chase & Co. from $154.00 to $173.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Several other research firms have also issued reports on LEN. Argus lifted 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. Barclays boosted their price objective on shares of Lennar from $177.00 to $210.00 and gave the stock an overweight rating in a research note on Monday. Raymond James downgraded shares of Lennar from an outperform rating to a market perform rating in a research note on Tuesday, July 2nd. Evercore ISI increased their price objective on Lennar from $237.00 to $240.00 and gave the company an outperform rating in a report on Monday, July 15th. Finally, Bank Of America (Bofa) increased their price target on Lennar from $171.00 to $190.00 and gave the company a neutral rating in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $179.72.

Lennar Stock Performance

LEN stock opened at $185.77 on Monday. Lennar has a 1-year low of $102.90 and a 1-year high of $193.80. The business has a 50-day moving average price of $177.07 and a 200 day moving average price of $164.16. The company has a market capitalization of $51.01 billion, a P/E ratio of 12.63, a PEG ratio of 1.61 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91.

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

Institutional Trading of Lennar

A number of hedge funds have recently modified their holdings of the stock. Boston Partners boosted its position in Lennar by 21.5% in the 1st quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after purchasing an additional 4,207 shares in the last quarter. Integrated Advisors Network LLC grew its position in Lennar by 177.3% during the fourth quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock valued at $4,659,000 after buying an additional 19,985 shares during the period. First National Bank of Mount Dora Trust Investment Services increased its holdings in Lennar by 331.8% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock valued at $2,069,000 after buying an additional 9,246 shares in the last quarter. Grayhawk Investment Strategies Inc. purchased a new stake in shares of Lennar during the 4th quarter worth about $838,000. Finally, Norden Group LLC acquired a new stake in shares of Lennar during the 1st quarter valued at about $5,592,000. Hedge funds and other institutional investors 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.