Bank of America Issues Pessimistic Forecast for KB Home (NYSE:KBH) Stock Price

KB Home (NYSE:KBH) had its price objective decreased by investment analysts at Bank of America from $76.00 to $71.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. Bank of America‘s target price suggests a potential upside of 3.86% from the stock’s current price.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. lowered their price objective on KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company lowered their price target on KB Home from $74.00 to $65.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. UBS Group cut their price objective on shares of KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Barclays lowered their target price on shares of KB Home from $85.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Royal Bank of Canada raised shares of KB Home from an “underperform” rating to a “sector perform” rating and cut their target price for the company from $70.00 to $67.00 in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $76.21.

KB Home Trading Down 2.4 %

Shares of NYSE:KBH opened at $68.36 on Monday. The stock has a 50 day moving average of $71.45 and a 200 day moving average of $78.04. The company has a market cap of $5.01 billion, a PE ratio of 8.07, a price-to-earnings-growth ratio of 0.93 and a beta of 1.86. KB Home has a 12-month low of $58.15 and a 12-month high of $89.70.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period in the prior year, the business posted $1.85 earnings per share. The company’s revenue was up 19.5% on a year-over-year basis. Equities research analysts predict that KB Home will post 8.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KB Home

Several institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in KB Home by 0.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 21,494 shares of the construction company’s stock valued at $1,842,000 after buying an additional 161 shares during the period. Thrivent Financial for Lutherans increased its position in KB Home by 0.9% during the second quarter. Thrivent Financial for Lutherans now owns 18,578 shares of the construction company’s stock valued at $1,304,000 after acquiring an additional 162 shares during the last quarter. CWM LLC raised its stake in shares of KB Home by 10.2% in the third quarter. CWM LLC now owns 1,975 shares of the construction company’s stock valued at $169,000 after acquiring an additional 183 shares during the period. Jupiter Wealth Management LLC lifted its holdings in shares of KB Home by 1.2% in the 3rd quarter. Jupiter Wealth Management LLC now owns 18,891 shares of the construction company’s stock worth $1,619,000 after acquiring an additional 225 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of KB Home by 23.4% during the 3rd quarter. Blue Trust Inc. now owns 1,271 shares of the construction company’s stock worth $109,000 after purchasing an additional 241 shares during the period. 96.09% of the stock is owned by institutional investors.

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.