Lennar (NYSE:LEN) Given New $196.00 Price Target at Citigroup

Lennar (NYSE:LEN) had its price objective boosted by equities researchers at Citigroup from $164.00 to $196.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. Citigroup’s price target indicates a potential upside of 5.89% from the stock’s previous close.

A number of other brokerages have also recently commented on LEN. BTIG Research dropped their price target on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Wedbush reissued a “neutral” rating and set a $144.00 price objective on shares of Lennar in a report on Friday. Keefe, Bruyette & Woods lifted their target price on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Lennar has a consensus rating of “Hold” and a consensus price target of $179.94.

Lennar Stock Performance

Shares of NYSE:LEN traded up $2.90 during mid-day trading on Monday, reaching $185.09. The company had a trading volume of 754,409 shares, compared to its average volume of 2,084,385. 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 company’s 50-day moving average price is $176.53 and its 200-day moving average price is $164.01. Lennar has a one year low of $102.90 and a one year high of $193.80. The firm has a market cap of $50.83 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.61 and a beta of 1.61.

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

Hedge Funds Weigh In On Lennar

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