Wells Fargo analyst Truman Patterson maintained a Buy rating on Lennar (LEN) yesterday. The company’s shares closed last Thursday at $79.95, close to its 52-week high of $86.80.
According to TipRanks.com, Patterson is a 3-star analyst with an average return of 6.9% and a 48.8% success rate. Patterson covers the Consumer Goods sector, focusing on stocks such as Mohawk Industries, M.D.C. Holdings, and DR Horton.
Currently, the analyst consensus on Lennar is a Moderate Buy with an average price target of $91.00, which is a 18.2% upside from current levels. In a report released yesterday, Susquehanna also maintained a Buy rating on the stock with a $94.00 price target.
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Based on Lennar’s latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $5.87 billion and net profit of $666 million. In comparison, last year the company earned revenue of $6.97 billion and had a net profit of $674 million.
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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, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other. The Financial Services segment focuses on the mortgage financing, title insurance and closing services for both buyers of homes and others. The Multifamily develops, constructs and manages property of multifamily rental. The Lennar Other segment involves in raising, investing, and managing third-party capital, originating, and selling into securitizations commercial mortgage loans. The company was founded by Gene Fisher and Arnold Paul Rosen in 1954 and is headquartered in Miami, FL.
