Lennar (NYSE:LEN) Upgraded by Seaport Res Ptn to “Buy”

Lennar (NYSE:LEN) was upgraded by equities researchers at Seaport Res Ptn from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Zacks.com reports.

Other research analysts also recently issued reports about the company. Barclays upped their price objective on Lennar from $110.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 15th. Bank of America started coverage on Lennar in a research note on Monday, November 8th. They issued a “buy” rating for the company. Royal Bank of Canada increased their price target on Lennar from $100.00 to $102.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 22nd. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research note on Sunday, December 5th. Finally, JPMorgan Chase & Co. decreased their price target on Lennar from $143.00 to $127.00 and set an “overweight” rating for the company in a research note on Thursday, October 14th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $125.75.

Shares of NYSE LEN opened at $108.16 on Friday. Lennar has a twelve month low of $74.70 and a twelve month high of $117.54. The company has a current ratio of 9.56, a quick ratio of 1.41 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $33.47 billion, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. The business has a 50 day simple moving average of $110.15 and a 200-day simple moving average of $104.17.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, December 15th. The construction company reported $3.91 EPS for the quarter, missing the Zacks’ consensus estimate of $4.15 by ($0.24). Lennar had a return on equity of 19.45% and a net margin of 16.33%. During the same period in the prior year, the company earned $2.82 EPS. As a group, equities analysts predict that Lennar will post 15.6 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in LEN. Samalin Investment Counsel LLC purchased a new stake in Lennar in the 2nd quarter worth about $25,000. Consolidated Planning Corp purchased a new stake in Lennar in the 3rd quarter worth about $29,000. Castleview Partners LLC purchased a new stake in Lennar in the 2nd quarter worth about $40,000. Evermay Wealth Management LLC purchased a new stake in Lennar in the 2nd quarter worth about $41,000. Finally, Clearstead Advisors LLC lifted its stake in Lennar by 1,556.7% in the 3rd quarter. Clearstead Advisors LLC now owns 497 shares of the construction company’s stock worth $47,000 after acquiring an additional 467 shares in the last quarter. 80.38% of the stock is owned by institutional investors and hedge funds.

Lennar Company Profile

Lennar Corp. is a homebuilder company which engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.

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Analyst Recommendations for Lennar (NYSE:LEN)

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