KB Home (NYSE:KBH) Upgraded by Zacks Research to “Hold” Rating

KB Home (NYSE:KBH) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other equities research analysts also recently commented on KBH. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $53.00 target price on shares of KB Home in a research report on Wednesday. Bank of America dropped their price target on KB Home from $63.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. Wall Street Zen raised KB Home from a “sell” rating to a “hold” rating in a report on Saturday. Seaport Research Partners reiterated a “sell” rating and set a $43.00 price objective (down from $65.00) on shares of KB Home in a research report on Tuesday, April 7th. Finally, Weiss Ratings cut KB Home from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, KB Home has a consensus rating of “Hold” and an average price target of $60.17.

KB Home Stock Up 2.4%

Shares of NYSE KBH opened at $62.15 on Thursday. The firm’s 50-day moving average price is $51.81 and its 200-day moving average price is $56.03. The company has a market cap of $3.89 billion, a PE ratio of 15.77, a PEG ratio of 10.56 and a beta of 1.37. KB Home has a 52-week low of $44.03 and a 52-week high of $68.71.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, June 23rd. The construction company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). KB Home had a return on equity of 7.67% and a net margin of 4.94%.The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $1.50 earnings per share. The business’s revenue was down 27.3% compared to the same quarter last year. As a group, equities research analysts anticipate that KB Home will post 3.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KBH. Deprince Race & Zollo Inc. increased its stake in shares of KB Home by 13.1% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,054,280 shares of the construction company’s stock worth $59,472,000 after purchasing an additional 122,457 shares in the last quarter. Lincluden Management Ltd. purchased a new position in KB Home during the third quarter valued at $1,965,000. Entropy Technologies LP grew its holdings in KB Home by 59.1% during the third quarter. Entropy Technologies LP now owns 77,962 shares of the construction company’s stock valued at $4,962,000 after purchasing an additional 28,948 shares during the period. International Assets Investment Management LLC bought a new stake in KB Home during the fourth quarter valued at about $4,232,000. Finally, iSAM Funds UK Ltd bought a new stake in KB Home during the third quarter valued at about $1,451,000. 96.09% of the stock is currently owned by institutional investors.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.