Lennar Corp (NYSE:LEN): A Stock to Watch

[Zacks] Lennar Corp (NYSE:LEN) delivered another strong quarterly result despite soft industry demand, beating the Zacks Consensus Estimate for both revenues and earnings in the third quarter of fiscal 2014.Earnings of 78 cents per share increased 44.4% year over year driven by double-digit growth in homebuilding revenues and solid margins. Home building revenues grew 25.3% year over year driven by pricing gains and strong deliveries. New home order grew 23% year over year.Stock PerformanceTaking a look at the company’s recent performance, Lennar Corpreported third quarter earnings for fiscal 2014 on September 17^th. The company reported actual earnings per share of $0.78 against the consensus Street estimate of $0.67. This represents year over year growth of 30.77%. Lennar Corpposted revenue of $1.40 billion against estimates of $1.28 billion.Lennar Corp (LEN)is currently valued at $8.73 billion and closed the last trading session at $43.76. The stock has a 50-day moving average of $39.40 and a 200-day moving average of $39.40.

Is this a Buying Opportunity?There are currently fifteen analysts that we track that cover the stock. Of those fifteen, six have a Buy rating, one has a strong buy rating and eight have a hold rating. On a consensus basis this yields a score of 2.53 and a Buy. The combined price objective of these covering analysts is $45.29, which represents a 13.64% upside difference to the last closing price.The most recent analyst activity consisted of BarclaysReiterating their overweight stance on the company. Barclays has a price target of $50.00 to $49.00 which represents an upside of 19.42% from the last closing price. On the date of the report, the stock closed at $41.03.Another research firm weighing in recently was Citigroup Inc who also reiterated their Neutral stance on the stock. On September 19^th Citigroup Inc upgraded their price target on the stock from $45.00, to $43.00 a 4.08% upside to the current price. On the day of the report, LENshares closed at $41.03.Company ProfileLennar Corporation(NYSE:LEN), together with its subsidiaries, is engaged in homebuilding activities in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida, Homebuilding Houston, Financial Services, Rialto Investments, and Lennar Multifamily segments. Its homebuilding activities primarily include the construction and sale of single-family attached and detached homes to first-time, move-up, and active adult homebuyers, as well as the purchase, development, and sale of residential land.