Lennar (NYSE:LEN) had its price target reduced by equities researchers at Deutsche Bank from $68.00 to $65.00 in a note issued to investors on Tuesday, April 10th. The brokerage currently has a “hold” rating on the construction company’s stock. Deutsche Bank’s target price would suggest a potential upside of 16.86% from the stock’s current price.
Several other equities analysts have also recently weighed in on LEN. Zacks Investment Research cut shares of Lennar from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Wedbush raised their target price on shares of Lennar from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, December 29th. Wells Fargo upgraded shares of Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 price objective for the company in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $78.00 target price on shares of Lennar in a research report on Thursday, January 11th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $65.00 price objective (up previously from $57.00) on shares of Lennar in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $71.40.
Shares of NYSE LEN opened at $55.62 on Tuesday. The company has a market capitalization of $18,772.37, a PE ratio of 14.60, a PEG ratio of 0.64 and a beta of 1.23. Lennar has a 52-week low of $49.34 and a 52-week high of $72.17. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.84 and a current ratio of 16.40.
Lennar (NYSE:LEN) last announced its earnings results on Wednesday, April 4th. The construction company reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.35. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Lennar had a net margin of 6.84% and a return on equity of 11.65%. The firm’s revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 earnings per share. research analysts anticipate that Lennar will post 4.9 earnings per share for the current year.
In related news, Director Jeffrey Sonnenfeld sold 2,095 shares of the firm’s stock in a transaction that occurred on Friday, April 6th. The shares were sold at an average price of $62.98, for a total value of $131,943.10. Following the sale, the director now owns 32,072 shares of the company’s stock, valued at $2,019,894.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Bruce E. Gross sold 9,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $72.00, for a total transaction of $648,000.00. Following the completion of the transaction, the chief financial officer now owns 346,043 shares in the company, valued at $24,915,096. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in LEN. Itau Unibanco Holding S.A. purchased a new position in Lennar in the fourth quarter valued at approximately $103,000. First Personal Financial Services purchased a new position in shares of Lennar during the fourth quarter worth approximately $140,000. Independence Bank of Kentucky purchased a new position in shares of Lennar during the fourth quarter worth approximately $153,000. NuWave Investment Management LLC purchased a new position in shares of Lennar during the fourth quarter worth approximately $203,000. Finally, Gotham Asset Management LLC purchased a new position in shares of Lennar during the fourth quarter worth approximately $207,000. Institutional investors own 88.68% 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. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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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