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

KB Home (NYSE:KBH) had its price objective lowered by stock analysts at Bank of America from $67.00 to $62.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Bank of America‘s price objective would indicate a potential upside of 0.35% from the stock’s current price.

Other analysts have also issued research reports about the stock. Royal Bank of Canada raised shares of KB Home from an “underperform” rating to a “sector perform” rating and lowered their price target for the company from $70.00 to $67.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. dropped their target price 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 reduced their price target 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. Keefe, Bruyette & Woods dropped their price objective on KB Home from $85.00 to $76.00 and set a “market perform” rating on the stock in a report on Friday, January 17th. Finally, Evercore ISI lifted their target price on KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $74.46.

KB Home Trading Up 3.4 %

Shares of KBH stock opened at $61.78 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 firm has a market cap of $4.41 billion, a P/E ratio of 7.29, a PEG ratio of 0.90 and a beta of 1.89. The company has a 50 day moving average of $64.17 and a 200-day moving average of $72.95. KB Home has a 12-month low of $58.80 and a 12-month high of $89.70.

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

Insider Transactions at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was 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 owns 34,473 shares in the company, valued at $2,370,708.21. This trade represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KB Home

Several institutional investors have recently modified their holdings of KBH. Quest Partners LLC grew its holdings in shares of KB Home by 101,600.0% during the 3rd quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock valued at $87,000 after purchasing an additional 1,016 shares during the last quarter. Pathstone Holdings LLC grew its stake in shares of KB Home by 1.3% during the third quarter. Pathstone Holdings LLC now owns 20,528 shares of the construction company’s stock valued at $1,759,000 after buying an additional 263 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of KB Home by 22.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock worth $77,655,000 after buying an additional 164,010 shares during the period. Citigroup Inc. lifted its stake in shares of KB Home by 62.1% in the 3rd quarter. Citigroup Inc. now owns 107,051 shares of the construction company’s stock valued at $9,173,000 after acquiring an additional 40,992 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in KB Home by 24.7% during the 3rd quarter. Cerity Partners LLC now owns 38,742 shares of the construction company’s stock valued at $3,320,000 after acquiring an additional 7,679 shares during the period. 96.09% of the stock is currently 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.