Lennar (NYSE:LEN – Get Free Report) had its price objective lifted by investment analysts at Evercore from $82.00 to $87.00 in a research report issued on Monday,MarketScreener reports. The firm presently has an “underperform” rating on the construction company’s stock. Evercore’s price objective would suggest a potential downside of 5.30% from the stock’s previous close.
A number of other research analysts also recently issued reports on the company. BTIG Research set a $67.00 price target on Lennar in a report on Monday. Barclays set a $79.00 target price on shares of Lennar and gave the company an “underweight” rating in a research note on Monday. Keefe, Bruyette & Woods cut Lennar from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $97.00 to $86.00 in a report on Tuesday, June 9th. Wells Fargo & Company set a $85.00 target price on Lennar and gave the stock an “equal weight” rating in a research note on Monday. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of Lennar in a research report on Friday, June 5th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and ten have issued a Sell rating to the stock. According to MarketBeat.com, Lennar has a consensus rating of “Reduce” and an average target price of $95.81.
Read Our Latest Analysis on Lennar
Lennar Price Performance
Lennar (NYSE:LEN – Get Free Report) last issued its earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The business had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 EPS. On average, analysts predict that Lennar will post 5.85 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Lennar during the 3rd quarter valued at about $25,000. Redmont Wealth Advisors LLC bought a new stake in Lennar during the third quarter valued at $26,000. Phillip James Consulting Co. acquired a new position in shares of Lennar in the 1st quarter worth approximately $30,000. High Point Wealth Management LLC purchased a new position in shares of Lennar in the fourth quarter worth approximately $31,000. Finally, DV Equities LLC purchased a new position in shares of Lennar during the fourth quarter valued at $31,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.
Lennar Company Profile
Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.
In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.
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