KB Home (NYSE:KBH) Stock Gets Price Target Trim from Morgan Stanley

KB Home (NYSE:KBH) had its target price reduced by research analysts at Morgan Stanley from $39.00 to $37.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the construction company’s stock. Morgan Stanley‘s price objective suggests a potential downside of 24.55% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Melius Research initiated coverage on KB Home in a research note on Tuesday, October 6th. They set a “sell” rating and a $43.00 target price on the stock. Stonex Financia raised shares of KB Home to a “hold” rating in a research report on Thursday, October 15th. Wells Fargo & Company dropped their target price on shares of KB Home from $50.00 to $42.00 and set an “underweight” rating for the company in a research report on Friday, October 16th. Weiss Ratings raised shares of KB Home from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Finally, Citigroup reissued an “outperform” rating on shares of KB Home in a research note on Wednesday, September 23rd. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $52.08.

KB Home Trading Down 3.2%

Shares of KB Home stock traded down $1.62 during trading on Tuesday, hitting $49.04. The stock had a trading volume of 270,418 shares, compared to its average volume of 1,239,803. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 2.39 and a beta of 1.34. KB Home has a 12 month low of $40.92 and a 12 month high of $67.57. The business’s 50-day moving average is $47.93 and its 200 day moving average is $53.69.

KB Home (NYSE:KBH) last announced its earnings results on Tuesday, September 22nd. The construction company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.17. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. KB Home had a net margin of 4.39% and a return on equity of 6.56%. KB Home’s revenue for the quarter was down 20.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.61 earnings per share. As a group, equities analysts expect that KB Home will post 3.26 EPS for the current year.

Insider Buying and Selling at KB Home

In related news, EVP Albert Praw sold 22,015 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $58.70, for a total value of $1,292,280.50. Following the transaction, the executive vice president directly owned 104,062 shares of the company’s stock, valued at approximately $6,108,439.40. This trade represents a 17.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arthur Collins sold 4,000 shares of KB Home stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $56.96, for a total value of $227,840.00. Following the transaction, the director owned 9,157 shares in the company, valued at $521,582.72. This trade represents a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.69% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. State of Wyoming lifted its stake in KB Home by 9.7% in the 3rd quarter. State of Wyoming now owns 9,472 shares of the construction company’s stock worth $440,000 after purchasing an additional 836 shares in the last quarter. Signaturefd LLC increased its holdings in shares of KB Home by 3.3% in the 3rd quarter. Signaturefd LLC now owns 9,476 shares of the construction company’s stock worth $440,000 after buying an additional 305 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of KB Home by 24.8% in the 3rd quarter. Inspire Investing LLC now owns 13,578 shares of the construction company’s stock worth $631,000 after buying an additional 2,697 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of KB Home by 49.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,503 shares of the construction company’s stock valued at $163,000 after buying an additional 1,158 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of KB Home during the 3rd quarter valued at about $34,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

About KB Home

KB Home (NYSE: KBH) is a homebuilder that develops and constructs residential communities across the United States. The company primarily builds single-family homes, along with certain attached homes and townhomes, serving first-time, move-up and active-adult buyers.

KB Home offers a range of home designs, floor plans and personalization options, allowing buyers to select features and finishes during the construction process. Its activities generally include land acquisition and development, home construction, sales and customer support, with homes built in both suburban and urban communities.

Founded in 1957, KB Home operates in markets across Arizona, California, Colorado, Florida, Idaho, Nevada, North Carolina, South Carolina, Texas and Washington.