Lennar Corporation (NYSE:LEN)‘s stock had its “buy” rating reissued by analysts at Royal Bank Of Canada in a report issued on Monday. They currently have a $64.00 price objective on the construction company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 23.36% from the company’s previous close.

Several other research firms have also recently issued reports on LEN. Barclays PLC cut shares of Lennar Corporation from an “overweight” rating to an “equal weight” rating and set a $56.00 price objective for the company. in a research report on Tuesday, July 11th. Mizuho reissued a “buy” rating on shares of Lennar Corporation in a research report on Tuesday, July 11th. Wedbush reissued a “neutral” rating and issued a $46.00 price objective on shares of Lennar Corporation in a research report on Thursday, June 15th. Bank of America Corporation reissued a “buy” rating and issued a $63.00 price objective (up from $60.00) on shares of Lennar Corporation in a research report on Wednesday, June 21st. Finally, Zacks Investment Research raised shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Wednesday, July 12th. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $56.53.

Shares of Lennar Corporation (LEN) opened at 51.88 on Monday. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 15.17 and a beta of 1.26. Lennar Corporation has a one year low of $39.68 and a one year high of $55.75. The firm has a 50-day moving average of $53.38 and a 200 day moving average of $51.27.

Lennar Corporation (NYSE:LEN) last released its quarterly earnings data on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.13. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 EPS. On average, equities research analysts predict that Lennar Corporation will post $3.82 EPS for the current year.

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In related news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $53.17, for a total transaction of $1,063,400.00. Following the completion of the transaction, the chief operating officer now owns 139,433 shares in the company, valued at approximately $7,413,652.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.18% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of LEN. Toronto Dominion Bank raised its position in Lennar Corporation by 25.5% in the second quarter. Toronto Dominion Bank now owns 68,832 shares of the construction company’s stock valued at $3,669,000 after buying an additional 13,992 shares during the period. Psagot Investment House Ltd. raised its position in Lennar Corporation by 12.1% in the second quarter. Psagot Investment House Ltd. now owns 33,475 shares of the construction company’s stock valued at $1,785,000 after buying an additional 3,600 shares during the period. Bank of Nova Scotia raised its position in Lennar Corporation by 71.8% in the second quarter. Bank of Nova Scotia now owns 79,890 shares of the construction company’s stock valued at $4,260,000 after buying an additional 33,388 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Lennar Corporation by 347.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 31,762 shares of the construction company’s stock valued at $1,694,000 after buying an additional 24,659 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Lennar Corporation by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,516,323 shares of the construction company’s stock valued at $400,771,000 after buying an additional 386,110 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Lennar Corporation Company Profile

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.

Analyst Recommendations for Lennar Corporation (NYSE:LEN)

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