Lennar (LEN) Rating Reiterated by JPMorgan Chase & Co.
Lennar (NYSE:LEN)‘s stock had its “overweight” rating reaffirmed by analysts at JPMorgan Chase & Co. in a report released on Tuesday, Marketbeat reports. They presently have a $77.00 price target on the construction company’s stock. JPMorgan Chase & Co.’s price target points to a potential upside of 25.76% from the stock’s previous close.
Other research analysts have also issued reports about the stock. Credit Suisse Group restated a “neutral” rating and issued a $65.00 price objective (up from $57.00) on shares of Lennar in a report on Thursday, January 11th. Wells Fargo & Co upgraded shares of Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 price objective for the company in a report on Tuesday, January 2nd. ValuEngine upgraded shares of Lennar from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Zacks Investment Research lowered shares of Lennar from a “buy” rating to a “hold” rating in a research note on Monday, January 15th. Finally, Mizuho upgraded shares of Lennar from a “neutral” rating to a “buy” rating in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Lennar presently has a consensus rating of “Buy” and an average price target of $67.93.
Lennar (NYSE:LEN) opened at $61.23 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 8.42 and a quick ratio of 1.67. Lennar has a 1-year low of $45.01 and a 1-year high of $72.17. The company has a market cap of $14,230.00, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 0.62 and a beta of 1.26.
In related news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 371,043 shares of the company’s stock, valued at approximately $22,262,580. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bruce E. Gross sold 1,000 shares of the stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $72.00, for a total transaction of $72,000.00. Following the sale, the chief financial officer now directly owns 356,043 shares in the company, valued at $25,635,096. The disclosure for this sale can be found here. Insiders have sold a total of 180,000 shares of company stock worth $12,392,050 over the last three months. 12.18% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in LEN. Itau Unibanco Holding S.A. purchased a new stake in Lennar during the 4th quarter valued at about $103,000. QS Investors LLC grew its position in Lennar by 1.0% during the 2nd quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after purchasing an additional 25 shares during the last quarter. First Personal Financial Services purchased a new stake in Lennar during the 4th quarter valued at about $140,000. Independence Bank of Kentucky purchased a new stake in Lennar during the 4th quarter valued at about $153,000. Finally, NuWave Investment Management LLC purchased a new stake in Lennar during the 4th quarter valued at about $203,000. 80.56% of the stock is currently owned by institutional investors.
Lennar 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.
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