Lennar (NYSE:LEN) Upgraded by StockNews.com to “Buy”

Lennar (NYSE:LEN – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

Other equities research analysts have also issued reports about the stock. Evercore ISI assumed coverage on shares of Lennar in a report on Friday, March 18th. They set a “buy” rating and a $151.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of Lennar from $108.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, April 13th. The Goldman Sachs Group reduced their target price on shares of Lennar from $120.00 to $96.00 and set a “buy” rating on the stock in a report on Tuesday, April 12th. Credit Suisse Group assumed coverage on shares of Lennar in a report on Tuesday, April 5th. They set a “neutral” rating and a $88.00 target price on the stock. Finally, Barclays reduced their target price on shares of Lennar from $110.00 to $93.00 in a report on Thursday, March 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $110.27.

Shares of Lennar stock traded down $0.29 during mid-day trading on Monday, hitting $74.15. The stock had a trading volume of 2,068,297 shares, compared to its average volume of 2,881,083. The firm has a 50-day moving average of $79.53 and a two-hundred day moving average of $93.95. Lennar has a 12-month low of $70.67 and a 12-month high of $117.54. The company has a quick ratio of 0.78, a current ratio of 9.51 and a debt-to-equity ratio of 0.22. The firm has a market cap of $21.91 billion, a P/E ratio of 5.81, a price-to-earnings-growth ratio of 4.36 and a beta of 1.47.

Lennar (NYSE:LEN – Get Rating) last posted its quarterly earnings data on Wednesday, March 16th. The construction company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. The firm had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Lennar had a net margin of 14.04% and a return on equity of 19.79%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the company posted $2.04 EPS. Sell-side analysts expect that Lennar will post 16.33 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its stake in Lennar by 14.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 12,617,934 shares of the construction company’s stock worth $1,027,993,000 after acquiring an additional 1,614,706 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Lennar by 14.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,112,688 shares of the construction company’s stock worth $1,041,036,000 after acquiring an additional 1,437,557 shares in the last quarter. Wellington Management Group LLP grew its position in Lennar by 18.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,104,245 shares of the construction company’s stock worth $946,566,000 after purchasing an additional 1,589,820 shares during the last quarter. GQG Partners LLC grew its position in Lennar by 34.5% during the 3rd quarter. GQG Partners LLC now owns 2,033,245 shares of the construction company’s stock worth $190,448,000 after purchasing an additional 521,125 shares during the last quarter. Finally, Smead Capital Management Inc. grew its position in Lennar by 18.5% during the 4th quarter. Smead Capital Management Inc. now owns 1,978,201 shares of the construction company’s stock worth $229,788,000 after purchasing an additional 309,083 shares during the last quarter. Hedge funds and other institutional investors own 82.00% of the company’s stock.

About Lennar (Get Rating)

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.

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