Bank of America Has Lowered Expectations for KB Home (NYSE:KBH) Stock Price

KB Home (NYSE:KBH) had its price objective reduced by Bank of America from $58.00 to $54.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. Bank of America‘s target price points to a potential upside of 1.09% from the stock’s previous close.

Several other analysts also recently issued reports on KBH. Wells Fargo & Company lowered their price target on KB Home from $55.00 to $53.00 and set an “underweight” rating for the company in a report on Tuesday, June 3rd. Royal Bank Of Canada lowered their target price on KB Home from $67.00 to $63.00 and set a “sector perform” rating for the company in a research note on Tuesday, March 25th. UBS Group reduced their price target on KB Home from $97.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Wall Street Zen cut KB Home from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. Finally, The Goldman Sachs Group dropped their price objective on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $70.32.

KB Home Stock Performance

NYSE KBH opened at $53.42 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 6.01 and a quick ratio of 0.56. KB Home has a 1-year low of $48.90 and a 1-year high of $89.70. The firm has a market capitalization of $3.83 billion, a P/E ratio of 6.51, a P/E/G ratio of 3.87 and a beta of 1.35. The business’s 50-day simple moving average is $52.87 and its 200-day simple moving average is $59.84.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Monday, June 23rd. The construction company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.45 by $0.05. KB Home had a net margin of 9.13% and a return on equity of 15.52%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the firm posted $2.15 earnings per share. KB Home’s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts predict that KB Home will post 8.42 EPS for the current year.

Insiders Place Their Bets

In other KB Home news, Director Arthur Reginald Collins sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $54.38, for a total transaction of $271,900.00. Following the sale, the director now owns 10,262 shares in the company, valued at $558,047.56. This represents a 32.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. raised its position in shares of KB Home by 73.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company’s stock valued at $35,000 after acquiring an additional 258 shares in the last quarter. Jones Financial Companies Lllp increased its stake in KB Home by 65.6% during the fourth 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 during the last quarter. Principal Securities Inc. raised its holdings in shares of KB Home by 43.6% during the fourth quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock worth $39,000 after purchasing an additional 179 shares during the period. Sachetta LLC lifted its position in shares of KB Home by 3,142.9% in the 1st quarter. Sachetta LLC now owns 681 shares of the construction company’s stock worth $40,000 after buying an additional 660 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of KB Home in the 1st quarter worth about $40,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

About KB Home

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.