Lennar (NYSE:LEN) Lifted to Buy at Seaport Res Ptn

Lennar (NYSE:LEN) was upgraded by investment analysts at Seaport Res Ptn from a “neutral” rating to a “buy” rating in a report released on Friday, Zacks.com reports.

Several other brokerages have also recently weighed in on LEN. Wedbush raised their target price on shares of Lennar from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, September 22nd. JPMorgan Chase & Co. reduced their target price on shares of Lennar from $143.00 to $127.00 and set an “overweight” rating on the stock in a report on Thursday, October 14th. The Goldman Sachs Group raised shares of Lennar from a “neutral” rating to a “buy” rating and raised their target price for the company from $108.00 to $140.00 in a report on Wednesday, December 1st. Bank of America started coverage on shares of Lennar in a report on Monday, November 8th. They issued a “buy” rating on the stock. Finally, BTIG Research increased their price target on shares of Lennar from $127.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, September 22nd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $125.75.

Shares of LEN opened at $108.16 on Friday. The stock has a market capitalization of $33.47 billion, a PE ratio of 7.57, a P/E/G ratio of 1.12 and a beta of 1.51. Lennar has a 1 year low of $74.70 and a 1 year high of $117.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.41 and a current ratio of 9.56. The company’s 50-day simple moving average is $110.15 and its 200-day simple moving average is $104.17.

Lennar (NYSE:LEN) last issued its earnings results on Wednesday, December 15th. The construction company reported $3.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.15 by ($0.24). Lennar had a net margin of 16.33% and a return on equity of 19.45%. During the same quarter last year, the firm posted $2.82 earnings per share. On average, sell-side analysts predict that Lennar will post 15.6 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in LEN. Samalin Investment Counsel LLC purchased a new position in shares of Lennar during the second quarter worth approximately $25,000. Consolidated Planning Corp acquired a new stake in shares of Lennar during the third quarter worth $29,000. Castleview Partners LLC acquired a new stake in shares of Lennar during the second quarter worth $40,000. Evermay Wealth Management LLC acquired a new stake in shares of Lennar during the second quarter worth $41,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of Lennar by 1,556.7% during the third quarter. Clearstead Advisors LLC now owns 497 shares of the construction company’s stock worth $47,000 after purchasing an additional 467 shares during the period. Institutional investors and hedge funds own 80.38% of the company’s stock.

Lennar Company Profile

Lennar Corp. is a homebuilder company which engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.

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Analyst Recommendations for Lennar (NYSE:LEN)

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