Wells Fargo & Company Lowers KB Home (NYSE:KBH) Price Target to $63.00

KB Home (NYSE:KBH) had its price target dropped by equities researchers at Wells Fargo & Company from $65.00 to $63.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 0.45% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Barclays decreased 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 research report on Tuesday, January 14th. Raymond James reiterated an “outperform” rating and set a $80.00 price target (down previously from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. Seaport Res Ptn upgraded shares of KB Home from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Keefe, Bruyette & Woods reduced their price target on shares of KB Home from $85.00 to $76.00 and set a “market perform” rating on the stock in a research report on Friday, January 17th. Finally, The Goldman Sachs Group reduced their price target on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $75.21.

KB Home Stock Down 2.0 %

Shares of KBH stock opened at $62.72 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51. The firm’s 50-day moving average is $64.90 and its 200-day moving average is $74.33. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 7.40, a PEG ratio of 0.90 and a beta of 1.89. KB Home has a 52-week low of $59.00 and a 52-week high of $89.70.

KB Home (NYSE:KBH) last released its quarterly 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. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the prior year, the firm earned $1.85 EPS. The business’s revenue was up 19.5% on a year-over-year basis. Sell-side analysts predict that KB Home will post 8.42 EPS for the current year.

Insider Buying and Selling

In other news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total value of $1,891,175.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,370,708.21. The trade was a 44.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On KB Home

A number of institutional investors and hedge funds have recently modified their holdings of KBH. Jones Financial Companies Lllp raised its position in KB Home by 65.6% during the 4th quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock valued at $36,000 after purchasing an additional 214 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of KB Home by 43.6% in the 4th quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock valued at $39,000 after buying an additional 179 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in KB Home in the 3rd quarter worth about $59,000. Banque Cantonale Vaudoise acquired a new position in KB Home in the 3rd quarter worth about $61,000. Finally, Versant Capital Management Inc raised its holdings in shares of KB Home by 275.7% during the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after acquiring an additional 557 shares during the last quarter. 96.09% of the stock is owned by institutional investors.

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.