Lennar (NYSE:LEN) Given New $92.00 Price Target at BTIG Research

Lennar (NYSE:LENGet Rating) had its price target cut by BTIG Research from $118.00 to $92.00 in a report released on Monday, The Fly reports. BTIG Research’s price target indicates a potential upside of 14.73% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. UBS Group raised their price objective on Lennar from $145.00 to $154.00 and gave the company a “buy” rating in a report on Friday, March 18th. Royal Bank of Canada decreased their price objective on Lennar from $109.00 to $100.00 and set a “sector perform” rating on the stock in a report on Friday, March 18th. The Goldman Sachs Group decreased their price objective on Lennar from $120.00 to $96.00 and set a “buy” rating on the stock in a report on Tuesday, April 12th. JPMorgan Chase & Co. decreased their price objective on Lennar from $108.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, April 13th. Finally, Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a report on Monday, March 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $108.53.

Shares of LEN opened at $80.19 on Monday. The stock’s 50-day simple moving average is $77.89 and its 200 day simple moving average is $92.13. The stock has a market capitalization of $23.70 billion, a price-to-earnings ratio of 6.28, a price-to-earnings-growth ratio of 4.81 and a beta of 1.46. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.78 and a current ratio of 9.51. Lennar has a 52-week low of $70.56 and a 52-week high of $117.54.

Lennar (NYSE:LENGet Rating) last released its quarterly earnings results on Wednesday, March 16th. The construction company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.10. Lennar had a return on equity of 19.79% and a net margin of 14.04%. The firm had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter last year, the firm posted $2.04 EPS. The company’s revenue was up 16.5% compared to the same quarter last year. On average, research analysts forecast that Lennar will post 16.33 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. City State Bank bought a new stake in shares of Lennar during the fourth quarter valued at approximately $27,000. Riverview Trust Co bought a new stake in shares of Lennar during the first quarter valued at approximately $28,000. Consolidated Planning Corp bought a new stake in shares of Lennar during the third quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. boosted its position in shares of Lennar by 69.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 284 shares of the construction company’s stock valued at $33,000 after purchasing an additional 116 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Lennar during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 82.00% of the company’s stock.

About Lennar (Get Rating)

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, Financial Services, Multifamily, and Lennar Other 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; and development, construction, and management of multifamily rental properties.

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