Lennar (LEN) Given a $53.00 Price Target at Royal Bank of Canada

Lennar (NYSE:LEN) has been given a $53.00 price objective by analysts at Royal Bank of Canada in a note issued to investors on Thursday. The firm currently has a “buy” rating on the construction company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 14.20% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Barclays set a $52.00 price objective on Lennar and gave the company a “buy” rating in a research note on Thursday. Buckingham Research assumed coverage on Lennar in a research report on Friday. They set a “buy” rating on the stock. They noted that the move was a valuation call. Bank of America cut their target price on Lennar from $60.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday. Deutsche Bank lifted their target price on Lennar to $56.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Zacks Investment Research cut Lennar from a “hold” rating to a “sell” rating in a research report on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $59.00.

Shares of Lennar stock opened at $46.41 on Thursday. The company has a quick ratio of 0.72, a current ratio of 12.62 and a debt-to-equity ratio of 0.67. Lennar has a 52 week low of $37.29 and a 52 week high of $72.17. The company has a market capitalization of $15.29 billion, a price-to-earnings ratio of 7.31, a PEG ratio of 0.43 and a beta of 1.17.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Wednesday, January 9th. The construction company reported $1.96 EPS for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.05. Lennar had a return on equity of 14.02% and a net margin of 8.24%. The firm had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.46 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The company’s revenue for the quarter was up 70.7% compared to the same quarter last year. As a group, research analysts predict that Lennar will post 6.45 EPS for the current year.

In related news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $40.03, for a total transaction of $800,600.00. Following the sale, the chief operating officer now directly owns 171,014 shares in the company, valued at $6,845,690.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Lennar by 3.7% during the third quarter. Vanguard Group Inc. now owns 31,160,634 shares of the construction company’s stock worth $1,445,931,000 after acquiring an additional 1,099,188 shares during the period. Alliancebernstein L.P. lifted its holdings in Lennar by 2.1% during the third quarter. Alliancebernstein L.P. now owns 4,037,099 shares of the construction company’s stock worth $188,492,000 after acquiring an additional 81,676 shares during the period. Miller Value Partners LLC lifted its holdings in Lennar by 0.5% during the second quarter. Miller Value Partners LLC now owns 1,393,550 shares of the construction company’s stock worth $73,161,000 after acquiring an additional 7,325 shares during the period. Sterling Capital Management LLC lifted its holdings in Lennar by 3.5% during the third quarter. Sterling Capital Management LLC now owns 1,080,531 shares of the construction company’s stock worth $50,450,000 after acquiring an additional 36,434 shares during the period. Finally, Stelliam Investment Management LP lifted its holdings in Lennar by 14.5% during the third quarter. Stelliam Investment Management LP now owns 1,027,500 shares of the construction company’s stock worth $47,974,000 after acquiring an additional 130,000 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.

Lennar Company Profile

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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Analyst Recommendations for Lennar (NYSE:LEN)

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