Brokerages Set Lennar Corporation (LEN) Target Price at $56.00

Shares of Lennar Corporation (NYSE:LEN) have been given an average recommendation of “Buy” by the twenty-one brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $56.00.

LEN has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Tuesday, May 23rd. Mizuho initiated coverage on shares of Lennar Corporation in a research report on Tuesday, May 16th. They set a “buy” rating and a $59.00 price target for the company. Bank of America Corporation reissued a “buy” rating and set a $63.00 price objective (up previously from $60.00) on shares of Lennar Corporation in a research note on Wednesday, June 21st. Argus reissued a “buy” rating and set a $60.00 price objective (up previously from $57.00) on shares of Lennar Corporation in a research note on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $62.00 price objective on shares of Lennar Corporation in a research note on Thursday, July 27th.

In other Lennar Corporation news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar Corporation stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $53.17, for a total value of $1,063,400.00. Following the transaction, the chief operating officer now owns 139,433 shares of the company’s stock, valued at $7,413,652.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.18% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. lifted its position in shares of Lennar Corporation by 8.9% in the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after purchasing an additional 155 shares in the last quarter. Commonwealth Bank of Australia lifted its position in shares of Lennar Corporation by 32.4% in the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after purchasing an additional 530 shares in the last quarter. Washington Trust Bank lifted its position in shares of Lennar Corporation by 47.6% in the second quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock worth $131,000 after purchasing an additional 794 shares in the last quarter. QS Investors LLC lifted its position in shares of Lennar Corporation by 1.0% in the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after purchasing an additional 25 shares in the last quarter. Finally, MUFG Americas Holdings Corp lifted its position in shares of Lennar Corporation by 7.3% in the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after purchasing an additional 220 shares in the last quarter. 81.09% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Brokerages Set Lennar Corporation (LEN) Target Price at $56.00” was originally reported by Markets Daily and is owned by of Markets Daily. If you are reading this piece on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://www.themarketsdaily.com/2017/09/12/brokerages-set-lennar-corporation-len-target-price-at-56-00.html.

Shares of Lennar Corporation (LEN) traded up 0.81% during midday trading on Friday, hitting $52.16. 1,581,358 shares of the company traded hands. Lennar Corporation has a 12-month low of $39.68 and a 12-month high of $55.75. The stock’s 50-day moving average is $52.44 and its 200 day moving average is $51.92. The stock has a market capitalization of $12.23 billion, a P/E ratio of 15.25 and a beta of 1.24.

Lennar Corporation (NYSE:LEN) last issued its quarterly earnings results on Tuesday, June 20th. The construction company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.78 by $0.13. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the company earned $0.95 EPS. Lennar Corporation’s revenue was up 18.8% on a year-over-year basis. On average, analysts expect that Lennar Corporation will post $3.82 earnings per share for the current year.

About Lennar Corporation

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.

Analyst Recommendations for Lennar Corporation (NYSE:LEN)

Receive News & Ratings for Lennar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply