Keefe, Bruyette & Woods Cuts KB Home (NYSE:KBH) Price Target to $65.00

KB Home (NYSE:KBH) had its target price reduced by Keefe, Bruyette & Woods from $76.00 to $65.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 9.77% from the company’s current price.

Several other brokerages have also issued reports on KBH. UBS Group cut their price objective on shares of KB Home from $97.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday. Evercore ISI lifted their price target on KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. decreased their price objective on KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Barclays cut their target price on KB Home from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company decreased their price target on shares of KB Home from $63.00 to $57.00 and set an “underweight” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.21.

KB Home Trading Up 1.1 %

Shares of NYSE:KBH traded up $0.65 during trading on Wednesday, reaching $59.22. 216,079 shares of the company were exchanged, compared to its average volume of 1,508,648. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83. The firm has a market capitalization of $4.23 billion, a PE ratio of 6.99, a P/E/G ratio of 0.90 and a beta of 1.89. The business’s fifty day simple moving average is $63.99 and its 200-day simple moving average is $72.81. KB Home has a 12-month low of $56.41 and a 12-month high of $89.70.

KB Home (NYSE:KBH) last issued its earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share 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 the consensus estimate of $1.51 billion. During the same period last year, the firm earned $1.76 earnings per share. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, research analysts anticipate that KB Home will post 8.42 EPS for the current year.

Insider Buying and Selling at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total value of $1,891,175.00. Following the transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.89% of the company’s stock.

Hedge Funds Weigh In On KB Home

Hedge funds have recently made changes to their positions in the company. Quest Partners LLC increased its position in shares of KB Home by 101,600.0% during the third quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock worth $87,000 after purchasing an additional 1,016 shares in the last quarter. Pathstone Holdings LLC grew its holdings 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 worth $1,759,000 after buying an additional 263 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 valued at $77,655,000 after buying an additional 164,010 shares during the last quarter. Citigroup Inc. lifted its stake in shares of KB Home by 62.1% in the third quarter. Citigroup Inc. now owns 107,051 shares of the construction company’s stock worth $9,173,000 after buying an additional 40,992 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in KB Home by 24.7% during the third quarter. Cerity Partners LLC now owns 38,742 shares of the construction company’s stock worth $3,320,000 after acquiring an additional 7,679 shares during the last quarter. Institutional investors and hedge funds 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.