KB Home (NYSE:KBH) Given New $62.00 Price Target at Bank of America

KB Home (NYSE:KBH) had its price objective lowered by Bank of America from $67.00 to $62.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Bank of America‘s target price would suggest a potential upside of 4.84% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Wells Fargo & Company cut their target price on KB Home from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. JPMorgan Chase & Co. reduced their price objective on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Seaport Res Ptn raised shares of KB Home from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Royal Bank of Canada raised shares of KB Home from an “underperform” rating to a “sector perform” rating and cut their price target for the stock from $70.00 to $67.00 in a report on Friday, January 10th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of 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. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $71.21.

KB Home Price Performance

Shares of KB Home stock opened at $59.14 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 5.51 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 6.98, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. KB Home has a twelve month low of $56.41 and a twelve month high of $89.70. The company has a 50-day simple moving average of $63.81 and a two-hundred day simple moving average of $72.71.

KB Home (NYSE:KBH) last released its quarterly earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.51 billion. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 earnings per share. Analysts forecast that KB Home will post 8.42 EPS for the current year.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,370,708.21. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KB Home

Large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its stake in shares of KB Home by 7.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,125 shares of the construction company’s stock worth $1,520,000 after purchasing an additional 1,631 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of KB Home in the 4th quarter valued at about $11,543,000. GHE LLC increased its stake in shares of KB Home by 6.8% in the fourth quarter. GHE LLC now owns 32,239 shares of the construction company’s stock valued at $2,119,000 after buying an additional 2,042 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of KB Home during the fourth quarter worth about $9,965,000. Finally, Forum Financial Management LP lifted its stake in shares of KB Home by 19.9% in the fourth quarter. Forum Financial Management LP now owns 3,197 shares of the construction company’s stock worth $210,000 after acquiring an additional 531 shares during the period. 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.