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

KB Home (NYSE:KBH) had its target price dropped by stock analysts at Wells Fargo & Company from $70.00 to $65.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the construction company’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 3.20% from the company’s current price.

A number of other brokerages also recently commented on KBH. Evercore ISI boosted their target price on shares of KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 14th. Raymond James reaffirmed an “outperform” rating and issued a $80.00 target price (down from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. Royal Bank of Canada raised KB Home from an “underperform” rating to a “sector perform” rating and dropped their price objective for the stock from $70.00 to $67.00 in a report on Friday, January 10th. Keefe, Bruyette & Woods dropped their price target on KB Home from $85.00 to $76.00 and set a “market perform” rating on the stock in a research note on Friday, January 17th. Finally, Bank of America cut their target price on shares of KB Home from $76.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $76.21.

KB Home Stock Performance

NYSE:KBH opened at $67.15 on Tuesday. KB Home has a fifty-two week low of $58.15 and a fifty-two week high of $89.70. The company has a 50 day moving average price of $71.27 and a 200 day moving average price of $77.98. The stock has a market capitalization of $4.92 billion, a P/E ratio of 7.93, a PEG ratio of 0.93 and a beta of 1.86.

KB Home (NYSE:KBH) last released its earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share (EPS) 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 company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the prior year, the business earned $1.85 EPS. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. Research analysts forecast that KB Home will post 8.5 earnings per share for the current fiscal year.

Institutional Trading of KB Home

A number of large investors have recently made changes to their positions in KBH. Financial Management Professionals Inc. purchased a new position in shares of KB Home during the third quarter valued at approximately $32,000. Riggs Asset Managment Co. Inc. acquired a new position in shares of KB Home during the 3rd quarter valued at about $43,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of KB Home in the third quarter worth approximately $59,000. Banque Cantonale Vaudoise acquired a new position in KB Home during the third quarter worth approximately $61,000. Finally, Versant Capital Management Inc grew its stake in shares of KB Home by 275.7% during the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after buying an additional 557 shares during the period. 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.