Lennar (LEN) Given a $63.00 Price Target by Barclays Analysts

Lennar (NYSE:LEN) received a $63.00 target price from stock analysts at Barclays in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the construction company’s stock. Barclays’ price target suggests a potential upside of 20.34% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Citigroup reissued a “buy” rating and issued a $65.00 target price on shares of Lennar in a report on Wednesday, June 27th. Bank of America raised their target price on Lennar from $90.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, June 27th. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Tuesday, June 5th. MKM Partners reduced their target price on Lennar to $71.00 and set a “buy” rating for the company in a report on Wednesday, May 23rd. Finally, Maxim Group reduced their target price on Lennar from $83.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $71.56.

Shares of NYSE LEN opened at $52.35 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.81 and a quick ratio of 0.76. Lennar has a 1-year low of $48.71 and a 1-year high of $72.17. The firm has a market cap of $17.21 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.45 and a beta of 1.25.

Lennar (NYSE:LEN) last released its earnings results on Tuesday, June 26th. The construction company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $1.13. Lennar had a return on equity of 12.82% and a net margin of 6.49%. The company had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter last year, the company earned $0.91 earnings per share. Lennar’s quarterly revenue was up 67.4% compared to the same quarter last year. sell-side analysts predict that Lennar will post 6.1 earnings per share for the current fiscal year.

In other news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $52.12, for a total transaction of $1,042,400.00. Following the completion of the transaction, the chief operating officer now owns 212,333 shares of the company’s stock, valued at approximately $11,066,795.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in LEN. Long Pond Capital LP raised its stake in shares of Lennar by 197.0% during the 2nd quarter. Long Pond Capital LP now owns 5,200,000 shares of the construction company’s stock worth $273,000,000 after buying an additional 3,449,061 shares during the last quarter. Cannell Peter B & Co. Inc. raised its stake in shares of Lennar by 486.7% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 1,016,196 shares of the construction company’s stock worth $53,350,000 after buying an additional 842,976 shares during the last quarter. Interval Partners LP acquired a new position in shares of Lennar during the 1st quarter worth $30,059,000. Standard Life Aberdeen plc raised its stake in shares of Lennar by 748.7% during the 2nd quarter. Standard Life Aberdeen plc now owns 558,515 shares of the construction company’s stock worth $29,323,000 after buying an additional 492,707 shares during the last quarter. Finally, CI Investments Inc. purchased a new stake in Lennar during the 1st quarter worth about $26,795,000. 85.81% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Earnings Per Share (EPS) Explained

Analyst Recommendations for Lennar (NYSE:LEN)

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