Evercore ISI Lowers Lennar (NYSE:LEN) Price Target to $236.00

Lennar (NYSE:LEN) had its target price lowered by equities researchers at Evercore ISI from $240.00 to $236.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Evercore ISI’s price objective suggests a potential upside of 27.55% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on LEN. Bank of America boosted their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday. BTIG Research dropped their price objective on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Keefe, Bruyette & Woods increased their price target on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. The Goldman Sachs Group lowered shares of Lennar from a “buy” rating to a “neutral” rating and cut their price objective for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. Finally, Barclays upped their target price on shares of Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $179.72.

Lennar Stock Performance

Shares of LEN traded up $2.83 during mid-day trading on Monday, hitting $185.02. The stock had a trading volume of 947,976 shares, compared to its average volume of 2,085,442. Lennar has a 52 week low of $102.90 and a 52 week high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. The business has a fifty day moving average price of $176.53 and a 200-day moving average price of $164.01. The firm has a market cap of $50.81 billion, a P/E ratio of 12.58, a PEG ratio of 1.61 and a beta of 1.61.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating the consensus estimate of $3.62 by $0.28. The business had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.91 earnings per share. On average, equities research analysts expect that Lennar will post 14.16 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LEN. Lakewood Asset Management LLC boosted its holdings in Lennar by 0.8% in the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after acquiring an additional 70 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in Lennar by 1.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after purchasing an additional 73 shares in the last quarter. Aaron Wealth Advisors LLC grew its position in Lennar by 5.7% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock valued at $207,000 after purchasing an additional 74 shares during the last quarter. Quotient Wealth Partners LLC raised its holdings in Lennar by 5.0% in the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after buying an additional 74 shares during the last quarter. Finally, BBR Partners LLC lifted its stake in shares of Lennar by 3.4% in the second quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock worth $364,000 after buying an additional 79 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

About Lennar

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.