Lennar (NYSE:LEN) Given New $90.00 Price Target at Raymond James

Lennar (NYSE:LEN) had its target price hoisted by Raymond James from $75.00 to $90.00 in a report released on Tuesday, The Fly reports. The firm currently has an outperform rating on the construction company’s stock.

Several other equities research analysts also recently weighed in on LEN. ValuEngine upgraded shares of Lennar from a strong sell rating to a sell rating in a research note on Monday, August 3rd. Wedbush increased their target price on shares of Lennar from $68.00 to $81.00 and gave the stock an outperform rating in a research note on Thursday, August 6th. Bank of America increased their target price on shares of Lennar from $67.00 to $74.00 and gave the stock a neutral rating in a research note on Wednesday, June 17th. BTIG Research raised their price objective on shares of Lennar from $88.00 to $94.00 and gave the company a buy rating in a research report on Friday, September 11th. Finally, Royal Bank of Canada raised their price objective on shares of Lennar from $61.00 to $68.00 and gave the company a fair value rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $74.14.

Shares of NYSE LEN opened at $75.90 on Tuesday. Lennar has a 52-week low of $25.42 and a 52-week high of $80.00. The business’s 50 day moving average is $75.17 and its two-hundred day moving average is $59.24. The company has a quick ratio of 1.24, a current ratio of 14.21 and a debt-to-equity ratio of 0.45. The firm has a market cap of $23.70 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.59 and a beta of 1.64.

Lennar (NYSE:LEN) last posted its earnings results on Monday, September 14th. The construction company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.51 by $0.61. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.53 billion. Lennar had a return on equity of 13.08% and a net margin of 9.30%. Lennar’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.59 earnings per share. Analysts anticipate that Lennar will post 6.27 EPS for the current fiscal year.

In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of Lennar stock in a transaction on Thursday, July 16th. The shares were sold at an average price of $70.01, for a total value of $700,100.00. Following the transaction, the executive vice president now owns 181,617 shares in the company, valued at approximately $12,715,006.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Jonathan M. Jaffe sold 40,000 shares of Lennar stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $61.41, for a total transaction of $2,456,400.00. Following the transaction, the president now owns 335,521 shares in the company, valued at approximately $20,604,344.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,000 shares of company stock worth $9,792,450. 8.60% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of LEN. Creative Planning lifted its holdings in shares of Lennar by 17.5% during the 1st quarter. Creative Planning now owns 5,811 shares of the construction company’s stock valued at $222,000 after acquiring an additional 865 shares in the last quarter. Private Capital Group LLC lifted its holdings in shares of Lennar by 126.0% during the 1st quarter. Private Capital Group LLC now owns 773 shares of the construction company’s stock valued at $30,000 after acquiring an additional 431 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Lennar by 1,777.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 82,589 shares of the construction company’s stock valued at $3,155,000 after acquiring an additional 78,191 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Lennar by 21.1% during the 1st quarter. Swiss National Bank now owns 1,086,248 shares of the construction company’s stock valued at $41,495,000 after acquiring an additional 189,400 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Lennar by 86.3% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 2,982 shares of the construction company’s stock valued at $113,000 after acquiring an additional 1,381 shares in the last quarter. Institutional investors and hedge funds own 81.62% 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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