Seaport Res Ptn Upgrades Lennar (NYSE:LEN) to Strong-Buy

Lennar (NYSE:LEN) was upgraded by analysts at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities analysts have also weighed in on LEN. Royal Bank of Canada lowered their price objective on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Bank of America lowered their target price on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Wolfe Research cut shares of Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. The Goldman Sachs Group dropped their target price on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. Finally, BTIG Research cut Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $163.88.

Lennar Stock Performance

Shares of LEN stock opened at $125.24 on Thursday. Lennar has a 12 month low of $116.67 and a 12 month high of $187.61. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The company has a market cap of $33.25 billion, a P/E ratio of 8.73, a PEG ratio of 1.24 and a beta of 1.69. The firm has a fifty day moving average price of $129.11 and a 200 day moving average price of $157.76.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $4.82 EPS. Sell-side analysts predict that Lennar will post 12.48 earnings per share for the current fiscal year.

Institutional Trading of Lennar

Several large investors have recently added to or reduced their stakes in the stock. Stephens Inc. AR purchased a new position in Lennar in the 3rd quarter valued at about $228,000. Concurrent Investment Advisors LLC increased its stake in Lennar by 5.6% during the third quarter. Concurrent Investment Advisors LLC now owns 4,685 shares of the construction company’s stock valued at $878,000 after purchasing an additional 250 shares during the last quarter. Portside Wealth Group LLC lifted its position in shares of Lennar by 4.7% in the 3rd quarter. Portside Wealth Group LLC now owns 1,871 shares of the construction company’s stock worth $351,000 after buying an additional 84 shares during the last quarter. Stiles Financial Services Inc boosted its holdings in shares of Lennar by 4.5% in the 3rd quarter. Stiles Financial Services Inc now owns 7,020 shares of the construction company’s stock valued at $1,317,000 after buying an additional 302 shares during the period. Finally, CWA Asset Management Group LLC bought a new stake in shares of Lennar during the 3rd quarter valued at about $2,352,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.