Lennar (LEN) PT Set at $63.00 by Barclays

Lennar (NYSE:LEN) has been given a $63.00 price target by research analysts at Barclays in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the construction company’s stock. Barclays’ price objective points to a potential upside of 19.93% from the company’s previous close.

A number of other analysts have also recently issued reports on LEN. Maxim Group reduced their price objective on shares of Lennar from $83.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, May 23rd. MKM Partners reduced their price objective on shares of Lennar to $71.00 and set a “buy” rating for the company in a research note on Wednesday, May 23rd. Zacks Investment Research raised shares of Lennar from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Tuesday, June 5th. Citigroup started coverage on shares of Lennar in a research note on Tuesday, June 19th. They issued a “buy” rating and a $65.00 price objective for the company. Finally, ValuEngine cut shares of Lennar from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. Lennar currently has an average rating of “Buy” and an average target price of $71.56.

Shares of NYSE LEN opened at $52.53 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.81 and a quick ratio of 0.76. The firm has a market capitalization of $17.21 billion, a PE ratio of 13.79, a PEG ratio of 0.45 and a beta of 1.25. Lennar has a 1 year low of $48.71 and a 1 year high of $72.17.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Tuesday, June 26th. The construction company reported $1.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $1.13. The firm had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Lennar had a net margin of 6.49% and a return on equity of 12.82%. The company’s revenue for the quarter was up 67.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 earnings per share. research analysts predict that Lennar will post 6.1 earnings per share for the current fiscal year.

In related news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $52.12, for a total transaction of $1,042,400.00. Following the completion of the transaction, the chief operating officer now owns 212,333 shares in the company, valued at $11,066,795.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Mengis Capital Management Inc. boosted its position in shares of Lennar by 39.4% during the second quarter. Mengis Capital Management Inc. now owns 27,855 shares of the construction company’s stock worth $1,462,000 after acquiring an additional 7,878 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of Lennar by 132.4% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 48,445 shares of the construction company’s stock worth $2,543,000 after acquiring an additional 27,595 shares during the last quarter. Brinker Capital Inc. boosted its position in shares of Lennar by 20.4% during the first quarter. Brinker Capital Inc. now owns 23,208 shares of the construction company’s stock worth $1,368,000 after acquiring an additional 3,931 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Lennar by 132.7% during the second quarter. Teacher Retirement System of Texas now owns 146,946 shares of the construction company’s stock worth $7,715,000 after acquiring an additional 83,793 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its position in shares of Lennar by 12.7% during the second quarter. State of Wisconsin Investment Board now owns 243,094 shares of the construction company’s stock worth $12,762,000 after acquiring an additional 27,383 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

About Lennar

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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