JPMorgan Chase & Co. Raises Lennar (NYSE:LEN) Price Target to $173.00

Lennar (NYSE:LEN) had its price target upped by JPMorgan Chase & Co. from $154.00 to $173.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 6.21% from the stock’s previous close.

LEN has been the topic of a number of other reports. Bank of America raised their price objective on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $180.00 to $174.00 in a research note on Monday, July 22nd. Wedbush reissued a “neutral” rating and set a $144.00 price objective on shares of Lennar in a research note on Friday. Raymond James downgraded shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Company increased their price target on shares of Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Lennar presently has an average rating of “Hold” and an average target price of $178.17.

Lennar Price Performance

Shares of NYSE:LEN traded up $2.27 during trading on Monday, reaching $184.46. The company had a trading volume of 464,074 shares, compared to its average volume of 2,082,798. The company has a fifty day moving average of $176.53 and a two-hundred day moving average of $164.01. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $50.65 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61. Lennar has a 12 month low of $102.90 and a 12 month high of $193.80.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The company had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. Lennar’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.91 EPS. Equities research analysts forecast that Lennar will post 14.16 earnings per share for the current year.

Institutional Trading of Lennar

Several institutional investors have recently bought and sold shares of the company. Boston Partners lifted its stake in shares of Lennar by 21.5% in the first quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after buying an additional 4,207 shares in the last quarter. Integrated Advisors Network LLC lifted its position in Lennar by 177.3% in the 4th quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock valued at $4,659,000 after acquiring an additional 19,985 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its stake in Lennar by 331.8% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock valued at $2,069,000 after purchasing an additional 9,246 shares during the last quarter. Grayhawk Investment Strategies Inc. bought a new stake in shares of Lennar in the 4th quarter worth $838,000. Finally, Norden Group LLC purchased a new position in shares of Lennar in the first quarter worth $5,592,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.