JPMorgan Chase & Co. Increases Lennar (NYSE:LEN) Price Target to $118.00

Lennar (NYSE:LEN) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $92.00 to $118.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 11.39% from the stock’s current price.

A number of other research analysts also recently commented on the company. Wells Fargo & Company lowered their target price on Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, October 10th. Zacks Research lowered shares of Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. UBS Group lifted their price objective on shares of Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Wall Street Zen raised shares of Lennar from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Raymond James Financial cut Lennar from a “market perform” rating to an “underperform” rating in a research note on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lennar currently has an average rating of “Hold” and a consensus price target of $121.77.

Lennar Stock Up 2.7%

LEN opened at $133.17 on Tuesday. The company has a market capitalization of $33.96 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 5.55 and a beta of 1.38. The firm has a 50-day simple moving average of $124.37 and a two-hundred day simple moving average of $120.69. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. Lennar has a 52 week low of $98.42 and a 52 week high of $171.50.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, September 18th. The construction company reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). Lennar had a return on equity of 11.09% and a net margin of 7.72%.The firm had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. During the same quarter in the prior year, the firm posted $3.90 earnings per share. Lennar’s quarterly revenue was down 6.4% on a year-over-year basis. Analysts forecast that Lennar will post 12.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lennar

Several institutional investors have recently made changes to their positions in the company. Guerra Advisors Inc bought a new position in Lennar during the 3rd quarter worth about $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Lennar in the 3rd quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Lennar during the third quarter valued at approximately $25,000. FNY Investment Advisers LLC purchased a new position in Lennar during the second quarter valued at approximately $33,000. Finally, Rexford Capital Inc. bought a new position in Lennar in the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 81.10% 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. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company’s 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; and development, construction, and management of multifamily rental properties.