KB Home (NYSE:KBH) Given New $76.00 Price Target at Bank of America

KB Home (NYSE:KBH) had its price objective lowered by Bank of America from $80.00 to $76.00 in a report released on Tuesday,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

KBH has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their price target on KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Evercore ISI increased their price target on KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday. Wedbush raised their target price on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Barclays downgraded KB Home from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $99.00 to $85.00 in a research note on Wednesday, December 11th. Finally, UBS Group reduced their target price on KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, KB Home presently has a consensus rating of “Hold” and a consensus target price of $75.88.

KB Home Stock Up 5.1 %

NYSE KBH opened at $67.36 on Tuesday. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 0.57 and a beta of 1.86. KB Home has a twelve month low of $58.05 and a twelve month high of $89.70. The stock has a fifty day simple moving average of $73.56 and a 200 day simple moving average of $77.99.

KB Home (NYSE:KBH) last issued 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 return on equity of 15.69% and a net margin of 9.31%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period last year, the business posted $1.85 EPS. The business’s revenue was up 19.5% compared to the same quarter last year. Research analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KB Home

Several large investors have recently added to or reduced their stakes in KBH. Commonwealth Equity Services LLC lifted its position in KB Home by 6.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 6,689 shares of the construction company’s stock valued at $469,000 after acquiring an additional 427 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in KB Home by 4.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the construction company’s stock valued at $463,000 after acquiring an additional 300 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of KB Home by 19.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 26,753 shares of the construction company’s stock worth $1,878,000 after buying an additional 4,357 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of KB Home by 4.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,128 shares of the construction company’s stock worth $781,000 after buying an additional 446 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of KB Home by 236.8% during the 2nd quarter. Hsbc Holdings PLC now owns 56,920 shares of the construction company’s stock worth $4,010,000 after buying an additional 40,018 shares in the last quarter. 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.