Keefe, Bruyette & Woods Reiterates Buy Rating for Lennar (LEN)

Lennar (NYSE:LEN)‘s stock had its “buy” rating reiterated by stock analysts at Keefe, Bruyette & Woods in a research note issued on Thursday. They currently have a $78.00 target price on the construction company’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 14.27% from the stock’s current price.

Other equities analysts have also issued reports about the company. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Friday, September 15th. Royal Bank of Canada reissued a “buy” rating and set a $64.00 price target on shares of Lennar in a research report on Monday, September 25th. UBS Group began coverage on Lennar in a research report on Wednesday, October 25th. They set a “buy” rating on the stock. BTIG Research upped their target price on Lennar from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Finally, Bank of America upped their target price on Lennar from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $60.67.

Lennar (NYSE LEN) opened at $68.26 on Thursday. The company has a market capitalization of $15,870.00, a P/E ratio of 19.67, a P/E/G ratio of 1.35 and a beta of 1.35. The company has a current ratio of 7.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.72. Lennar has a 52-week low of $43.27 and a 52-week high of $68.51.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, January 10th. The construction company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.21). The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.59 billion. Lennar had a return on equity of 12.37% and a net margin of 6.65%. The business’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm posted $1.34 earnings per share. analysts predict that Lennar will post 4.04 earnings per share for the current fiscal year.

In related news, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 371,043 shares of the company’s stock, valued at approximately $22,262,580. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $64.02, for a total value of $1,280,400.00. Following the sale, the chief operating officer now directly owns 99,000 shares in the company, valued at $6,337,980. The disclosure for this sale can be found here. Corporate insiders own 12.18% of the company’s stock.

Several hedge funds have recently bought and sold shares of LEN. D.A. Davidson & CO. raised its position in shares of Lennar by 8.9% during the 2nd quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock valued at $101,000 after acquiring an additional 155 shares in the last quarter. Commonwealth Bank of Australia raised its position in shares of Lennar by 32.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock valued at $114,000 after acquiring an additional 530 shares in the last quarter. QS Investors LLC raised its position in shares of Lennar by 1.0% during the 2nd quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after acquiring an additional 25 shares in the last quarter. Chartist Inc. CA acquired a new stake in shares of Lennar during the 2nd quarter valued at approximately $200,000. Finally, Fiera Capital Corp bought a new position in Lennar during the 2nd quarter worth $224,000. 81.25% of the stock is currently owned by institutional investors and hedge funds.

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About Lennar

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.

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