Lennar (NYSE:LEN) had its target price lowered by research analysts at Royal Bank of Canada in a report released on Friday, The Fly reports. The brokerage presently has an “outperform” rating on the construction company’s stock.

Other equities analysts also recently issued reports about the stock. Wedbush raised shares of Lennar from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $56.00 to $50.00 in a research note on Monday, October 29th. JMP Securities reissued an “outperform” rating on shares of Lennar in a research note on Monday, October 8th. Bank of America set a $74.00 price target on shares of Lennar and gave the stock a “buy” rating in a research note on Thursday, October 11th. Barclays set a $55.00 price target on shares of Lennar and gave the stock a “buy” rating in a research note on Wednesday, December 12th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $45.00 target price (down from $55.00) on shares of Lennar in a research note on Wednesday, October 17th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $61.00.

Shares of NYSE LEN opened at $45.17 on Friday. Lennar has a 52-week low of $37.29 and a 52-week high of $72.17. The stock has a market capitalization of $15.29 billion, a PE ratio of 7.11, a P/E/G ratio of 0.43 and a beta of 1.17. The company has a current ratio of 12.62, a quick ratio of 0.72 and a debt-to-equity ratio of 0.67.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, January 9th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.05. Lennar had a net margin of 8.24% and a return on equity of 14.02%. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.46 billion. During the same quarter last year, the business earned $1.29 earnings per share. The company’s revenue for the quarter was up 70.7% compared to the same quarter last year. Research analysts predict that Lennar will post 6.45 earnings per share for the current fiscal year.

In other news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $40.03, for a total value of $800,600.00. Following the sale, the chief operating officer now directly owns 171,014 shares of the company’s stock, valued at approximately $6,845,690.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC grew its holdings in shares of Lennar by 14.5% in the third quarter. Belpointe Asset Management LLC now owns 6,306 shares of the construction company’s stock valued at $294,000 after purchasing an additional 797 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Lennar by 16.1% in the second quarter. Brown Advisory Inc. now owns 6,999 shares of the construction company’s stock valued at $368,000 after purchasing an additional 972 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Lennar by 2.6% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 49,707 shares of the construction company’s stock valued at $2,321,000 after purchasing an additional 1,262 shares in the last quarter. Capital Analysts LLC grew its holdings in shares of Lennar by 7.3% in the third quarter. Capital Analysts LLC now owns 20,650 shares of the construction company’s stock valued at $964,000 after purchasing an additional 1,412 shares in the last quarter. Finally, Global X Management Co LLC grew its holdings in Lennar by 20.7% during the 2nd quarter. Global X Management Co LLC now owns 8,671 shares of the construction company’s stock worth $455,000 after acquiring an additional 1,486 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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.

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Analyst Recommendations for Lennar (NYSE:LEN)

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