Wells Fargo & Company Lowers KB Home (NYSE:KBH) Price Target to $65.00

KB Home (NYSE:KBH) had its price objective cut by Wells Fargo & Company from $74.00 to $65.00 in a research report report published on Monday morning,Benzinga reports. They currently have an underweight rating on the construction company’s stock.

KBH has been the subject of a number of other reports. JPMorgan Chase & Co. cut their target price on KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Royal Bank of Canada raised KB Home from an “underperform” rating to a “sector perform” rating and reduced their target price for the company from $70.00 to $67.00 in a report on Friday. Wedbush upped their price target on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. UBS Group decreased their price objective on shares of KB Home from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Barclays lowered shares of KB Home from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $99.00 to $85.00 in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $79.25.

KB Home Price Performance

Shares of NYSE KBH opened at $64.07 on Monday. The company has a market cap of $4.70 billion, a PE ratio of 8.21, a P/E/G ratio of 0.57 and a beta of 1.86. The stock has a fifty day moving average price of $73.85 and a 200 day moving average price of $78.01. KB Home has a 1-year low of $58.05 and a 1-year high of $89.70.

KB Home (NYSE:KBH) last issued its earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.08. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.99 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.85 earnings per share. Analysts anticipate that KB Home will post 8.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KB Home

Several hedge funds have recently bought and sold shares of KBH. Commonwealth Equity Services LLC boosted its stake in shares of KB Home by 6.8% during the second quarter. Commonwealth Equity Services LLC now owns 6,689 shares of the construction company’s stock valued at $469,000 after acquiring an additional 427 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of KB Home by 4.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the construction company’s stock worth $463,000 after purchasing an additional 300 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of KB Home by 19.5% during the second quarter. Mercer Global Advisors Inc. ADV now owns 26,753 shares of the construction company’s stock worth $1,878,000 after buying an additional 4,357 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of KB Home by 4.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,128 shares of the construction company’s stock valued at $781,000 after buying an additional 446 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of KB Home by 236.8% during the second quarter. Hsbc Holdings PLC now owns 56,920 shares of the construction company’s stock valued at $4,010,000 after buying an additional 40,018 shares during the period. Hedge funds and other institutional investors 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.