Lennar (NYSE:LEN) Given New $135.00 Price Target at Bank of America

Lennar (NYSE:LEN) had its price objective raised by Bank of America from $115.00 to $135.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

Other research analysts have also issued reports about the stock. Zelman & Associates lowered shares of Lennar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 18th. Wall Street Zen downgraded Lennar from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st. Zacks Research upgraded Lennar from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Evercore ISI dropped their price objective on shares of Lennar from $131.00 to $114.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 18th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $130.00 target price on shares of Lennar in a report on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $133.08.

Lennar Stock Performance

NYSE LEN opened at $132.99 on Thursday. The company has a fifty day moving average of $125.71 and a two-hundred day moving average of $115.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. Lennar has a 1 year low of $98.42 and a 1 year high of $193.80. The company has a market capitalization of $34.45 billion, a PE ratio of 11.00, a P/E/G ratio of 5.64 and a beta of 1.33.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. The firm had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%.During the same quarter last year, the business posted $3.90 EPS. As a group, analysts expect that Lennar will post 12.48 earnings per share for the current year.

Institutional Investors Weigh In On Lennar

Hedge funds have recently made changes to their positions in the business. Brighton Jones LLC increased its stake in Lennar by 27.9% in the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock valued at $236,000 after purchasing an additional 377 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Lennar by 1,163.6% in the fourth quarter. Two Sigma Advisers LP now owns 122,820 shares of the construction company’s stock worth $16,749,000 after acquiring an additional 113,100 shares during the last quarter. Vident Advisory LLC increased its position in Lennar by 90.7% during the fourth quarter. Vident Advisory LLC now owns 18,107 shares of the construction company’s stock worth $2,469,000 after purchasing an additional 8,611 shares during the last quarter. Woodline Partners LP purchased a new position in Lennar during the fourth quarter worth approximately $1,956,000. Finally, Waverly Advisors LLC purchased a new stake in shares of Lennar during the 4th quarter valued at $329,000. Institutional investors and hedge funds 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.