KB Home (NYSE:KBH) Stock Rating Lowered by Barclays

KB Home (NYSE:KBH) was downgraded by stock analysts at Barclays from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $85.00 price objective on the construction company’s stock, down from their prior price objective of $99.00. Barclays‘s target price would indicate a potential upside of 15.60% from the stock’s current price.

A number of other research analysts have also issued reports on KBH. Royal Bank of Canada lowered shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a research note on Thursday, September 5th. Bank of America lifted their price target on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Wedbush increased their price objective on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. The Goldman Sachs Group upped their price target on shares of KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company downgraded KB Home from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $80.00 to $83.00 in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $78.96.

KB Home Price Performance

NYSE KBH opened at $73.53 on Wednesday. The firm’s fifty day moving average price is $80.04 and its 200 day moving average price is $78.38. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.62 and a beta of 1.81. KB Home has a 12 month low of $54.94 and a 12 month high of $89.70.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.02). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $1.80 EPS. As a group, sell-side analysts forecast that KB Home will post 8.42 earnings per share for the current year.

Insider Buying and Selling at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the sale, the chief financial officer now owns 34,473 shares in the company, valued at $2,737,156.20. 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. 3.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On KB Home

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of KB Home by 47.9% during the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock valued at $463,690,000 after acquiring an additional 1,752,498 shares in the last quarter. State Street Corp boosted its holdings in KB Home by 1.3% in the third quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock valued at $303,285,000 after purchasing an additional 45,311 shares during the last quarter. Fisher Asset Management LLC grew its stake in KB Home by 3.4% during the 3rd quarter. Fisher Asset Management LLC now owns 2,206,172 shares of the construction company’s stock valued at $189,047,000 after purchasing an additional 73,051 shares in the last quarter. Geode Capital Management LLC increased its holdings in KB Home by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock worth $166,125,000 after purchasing an additional 16,593 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of KB Home by 9.6% in the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock valued at $118,244,000 after purchasing an additional 147,326 shares in the last quarter. Hedge funds and other 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.