JPMorgan Chase & Co. Issues Pessimistic Forecast for KB Home (NYSE:KBH) Stock Price

KB Home (NYSE:KBH) had its price target lowered by research analysts at JPMorgan Chase & Co. from $92.50 to $82.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 14.81% from the stock’s previous close.

A number of other brokerages have also issued reports on KBH. Wells Fargo & Company lowered KB Home from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $80.00 to $83.00 in a research report on Monday, October 7th. Barclays downgraded KB Home from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $99.00 to $85.00 in a report on Wednesday. Bank of America upped their target price on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. The Goldman Sachs Group raised their price target on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Finally, Wedbush upped their price target on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $79.92.

KB Home Stock Down 2.9 %

Shares of NYSE:KBH opened at $71.42 on Friday. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 0.59 and a beta of 1.81. The company has a 50 day moving average of $79.83 and a two-hundred day moving average of $78.38. KB Home has a 52-week low of $58.05 and a 52-week high of $89.70.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business posted $1.80 earnings per share. KB Home’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts anticipate that KB Home will post 8.42 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,737,156.20. This represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in KB Home by 47.9% in the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after buying an additional 1,752,498 shares during the period. State Street Corp increased its holdings in shares of KB Home by 1.3% in the 3rd quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock worth $303,285,000 after acquiring an additional 45,311 shares during the period. Fisher Asset Management LLC increased its holdings in shares of KB Home by 3.4% in the 3rd quarter. Fisher Asset Management LLC now owns 2,206,172 shares of the construction company’s stock worth $189,047,000 after acquiring an additional 73,051 shares during the period. Geode Capital Management LLC boosted its stake in KB Home by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock valued at $166,125,000 after purchasing an additional 16,593 shares during the period. Finally, American Century Companies Inc. grew its position in KB Home by 9.6% in the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock worth $118,244,000 after purchasing an additional 147,326 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.