Bank of America Cuts KB Home (NYSE:KBH) Price Target to $76.00

KB Home (NYSE:KBH) had its price target reduced by Bank of America from $80.00 to $76.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada upgraded shares of KB Home from an “underperform” rating to a “sector perform” rating and decreased their target price for the stock from $70.00 to $67.00 in a research report on Friday, January 10th. UBS Group lowered their target price on KB Home from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Barclays downgraded KB Home from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $99.00 to $85.00 in a research note on Wednesday, December 11th. Evercore ISI raised their price target on KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Wedbush upped their price objective on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.88.

KB Home Trading Down 0.3 %

Shares of NYSE KBH opened at $68.33 on Tuesday. KB Home has a 12-month low of $58.05 and a 12-month high of $89.70. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 0.54 and a beta of 1.86. The stock’s 50 day simple moving average is $73.08 and its 200 day simple moving average is $77.86.

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

Institutional Trading of KB Home

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its position in KB Home by 24.5% in the third quarter. Barclays PLC now owns 196,229 shares of the construction company’s stock worth $16,816,000 after buying an additional 38,638 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of KB Home by 22.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after acquiring an additional 164,010 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of KB Home during the 3rd quarter worth $956,000. Cerity Partners LLC grew its holdings in shares of KB Home by 24.7% in the 3rd quarter. Cerity Partners LLC now owns 38,742 shares of the construction company’s stock worth $3,320,000 after acquiring an additional 7,679 shares during the last quarter. Finally, Citigroup Inc. raised its position in shares of KB Home by 62.1% during the third quarter. Citigroup Inc. now owns 107,051 shares of the construction company’s stock worth $9,173,000 after purchasing an additional 40,992 shares during the period. 96.09% of the stock is owned by institutional investors and hedge funds.

About KB Home

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.