Lennar (NYSE:LEN) PT Raised to $190.00 at Bank Of America (Bofa)

Lennar (NYSE:LEN) had its price target boosted by Bank Of America (Bofa) from $171.00 to $190.00 in a research note released on Friday morning. Bank Of America (Bofa) currently has a neutral rating on the construction company’s stock.

Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods boosted 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. The Goldman Sachs Group lowered shares of Lennar from a buy rating to a neutral rating and dropped their price objective for the stock from $180.00 to $174.00 in a report on Monday, July 22nd. Citigroup restated a neutral rating and set a $164.00 price target (down from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. Wedbush reissued a neutral rating and issued a $144.00 price objective on shares of Lennar in a research note on Friday. Finally, JMP Securities restated a market outperform rating and issued a $170.00 target price on shares of Lennar in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Lennar currently has a consensus rating of Hold and an average price target of $179.72.

Lennar Stock Up 2.0 %

NYSE LEN opened at $185.77 on Friday. Lennar has a twelve month low of $102.90 and a twelve month high of $193.80. The stock has a market cap of $51.01 billion, a PE ratio of 12.63, a PEG ratio of 1.61 and a beta of 1.61. The firm has a 50-day simple moving average of $177.07 and a 200 day simple moving average of $164.16. 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 (NYSE:LEN) last announced its quarterly earnings data 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. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The company had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same quarter last year, the firm earned $3.91 EPS. Lennar’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, research analysts forecast that Lennar will post 14.16 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Rise Advisors LLC increased its position in Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after acquiring an additional 121 shares during the period. J.Safra Asset Management Corp bought a new position in shares of Lennar during the first quarter worth approximately $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Lennar in the first quarter valued at approximately $32,000. Redmont Wealth Advisors LLC acquired a new stake in Lennar during the first quarter worth approximately $35,000. Finally, Fortitude Family Office LLC raised its holdings in Lennar by 223.6% in the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after acquiring an additional 161 shares in the last quarter. 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.