Keefe, Bruyette & Woods Trims Lennar Corp. (LEN) Target Price to $55.00
Lennar Corp. (NYSE:LEN) had its price objective reduced by equities researchers at Keefe, Bruyette & Woods from $57.00 to $55.00 in a note issued to investors on Wednesday. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 26.44% from the company’s current price.
Several other research firms have also commented on LEN. Zacks Investment Research raised Lennar Corp. from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Wednesday, August 24th. Argus assumed coverage on Lennar Corp. in a report on Tuesday, July 5th. They set a “buy” rating and a $59.00 target price for the company. FBR & Co reaffirmed an “outperform” rating and set a $60.00 target price on shares of Lennar Corp. in a report on Wednesday, June 22nd. MKM Partners reaffirmed a “hold” rating on shares of Lennar Corp. in a report on Wednesday, June 22nd. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of Lennar Corp. in a report on Tuesday, June 28th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $54.19.
Shares of Lennar Corp. (NYSE:LEN) opened at 43.50 on Wednesday. The firm has a market capitalization of $9.53 billion, a PE ratio of 11.61 and a beta of 1.37. Lennar Corp. has a 52-week low of $37.14 and a 52-week high of $52.50. The firm’s 50-day moving average price is $46.34 and its 200-day moving average price is $46.48.
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Lennar Corp. (NYSE:LEN) last posted its earnings results on Tuesday, September 20th. The company reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.12. The company earned $2.83 billion during the quarter. Lennar Corp. had a return on equity of 14.41% and a net margin of 8.52%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share. On average, equities analysts predict that Lennar Corp. will post $3.82 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Ropes Wealth Advisors LLC increased its stake in shares of Lennar Corp. by 492.9% in the second quarter. Ropes Wealth Advisors LLC now owns 2,591 shares of the company’s stock valued at $119,000 after buying an additional 2,154 shares during the period. Mizuho Asset Management Co. Ltd. increased its position in Lennar Corp. by 160.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,767 shares of the company’s stock worth $128,000 after buying an additional 1,705 shares during the period. Pacer Advisors Inc. increased its position in Lennar Corp. by 18.9% in the second quarter. Pacer Advisors Inc. now owns 3,211 shares of the company’s stock worth $148,000 after buying an additional 510 shares during the period. Tower Research Capital LLC TRC increased its position in Lennar Corp. by 1,971.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,432 shares of the company’s stock worth $204,000 after buying an additional 4,218 shares during the period. Finally, Chartist Inc. CA bought a new position in Lennar Corp. during the second quarter worth $206,000. 86.39% of the stock is currently owned by institutional investors.
About Lennar Corp.
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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