Wedbush upgraded shares of Lennar (NYSE:LEN) from a neutral rating to an outperform rating in a research report released on Thursday morning, 24/7 WallStreet reports. Wedbush currently has $62.00 price objective on the construction company’s stock, up from their previous price objective of $50.00.

Several other research analysts have also issued reports on LEN. Zacks Investment Research lowered Lennar from a hold rating to a sell rating and set a $53.00 target price for the company. in a research report on Thursday, May 30th. Barclays set a $54.00 target price on Lennar and gave the stock a buy rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. assumed coverage on Lennar in a research report on Monday, April 8th. They issued a focus list rating for the company. ValuEngine raised Lennar from a sell rating to a hold rating in a research report on Friday, April 19th. Finally, KeyCorp increased their target price on Lennar from $50.00 to $57.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $56.82.

NYSE LEN traded up $0.49 on Thursday, hitting $53.57. The company’s stock had a trading volume of 6,798 shares, compared to its average volume of 2,276,219. Lennar has a 52-week low of $37.29 and a 52-week high of $55.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 14.77. The stock has a market cap of $17.36 billion, a P/E ratio of 8.46, a price-to-earnings-growth ratio of 0.69 and a beta of 1.27.

Lennar (NYSE:LEN) last released its quarterly earnings data on Wednesday, March 27th. The construction company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.01). Lennar had a return on equity of 13.04% and a net margin of 8.39%. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the business posted $1.11 EPS. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. Sell-side analysts predict that Lennar will post 5.42 earnings per share for the current year.

In related news, President Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $48.94, for a total transaction of $978,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.43% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Ceredex Value Advisors LLC bought a new stake in shares of Lennar in the 4th quarter valued at about $28,000. CI Investments Inc. increased its stake in Lennar by 188.5% during the 4th quarter. CI Investments Inc. now owns 756 shares of the construction company’s stock worth $30,000 after purchasing an additional 494 shares in the last quarter. Cresset Asset Management LLC bought a new stake in Lennar during the 1st quarter worth approximately $33,000. Ellis Investment Partners LLC bought a new stake in Lennar during the 1st quarter worth approximately $35,000. Finally, Valley National Advisers Inc. bought a new stake in Lennar during the 4th quarter worth approximately $49,000. 85.77% of the stock is owned by 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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.

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Analyst Recommendations for Lennar (NYSE:LEN)

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