Jim Cramer on Lennar: “Here’s a Home Builder That’s a Superb Operator”

Lennar Corporation (NYSE:LEN) is one of the stocks on Jim Cramer’s radar. While Cramer expressed a bullish sentiment toward the company, he showed hesitancy in recommending the stock, as he said:

“Lennar reports too, and here’s a home builder that’s a superb operator. It’s done well throughout the bond turmoil that we’ve seen in recent months. We need long-term interest rates to stay low to justify buying a home builder. That’s a tough call right now.”

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Lennar Corporation (NYSE:LEN) is a U.S.-based homebuilder focused on constructing and selling single-family homes. The company also develops residential land and manages multifamily rental properties. Appearing on Squawk on the Street in April, Cramer said:

“I mean, do you buy the homebuilders. They do well, rates are coming down. Mortgage rates are coming down pretty severely. How about buying Lennar? It’s all the way down. It’s levered to mortgage rates. . .so maybe you buy Lennar, maybe you buy Toll Brothers… I’m just saying that money’s going to gravitate from places that had been like Dell . . .and it might go to Lennar. It might go to Toll Brothers. Because rates are coming down. And they’re coming down really hard, really fast. We should recognize that. The rates are really braking.”

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Disclosure: None. This article is originally published at Insider Monkey.