Wall Street Zen Upgrades KB Home (NYSE:KBH) to “Hold”

KB Home (NYSE:KBH) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research firms have also commented on KBH. Evercore set a $59.00 price objective on shares of KB Home in a research note on Wednesday, September 23rd. Citizens Jmp decreased their target price on shares of KB Home from $77.00 to $70.00 and set a “market outperform” rating on the stock in a report on Wednesday, September 23rd. Truist Financial lowered their price objective on shares of KB Home from $55.00 to $50.00 and set a “hold” rating on the stock in a report on Wednesday, September 23rd. Citigroup reaffirmed an “outperform” rating on shares of KB Home in a report on Wednesday, September 23rd. Finally, Melius Research started coverage on shares of KB Home in a research note on Tuesday, October 6th. They issued a “sell” rating and a $43.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, KB Home presently has an average rating of “Hold” and a consensus target price of $52.23.

KB Home Stock Performance

NYSE:KBH opened at $47.94 on Friday. KB Home has a one year low of $40.92 and a one year high of $67.57. The firm has a 50-day simple moving average of $48.03 and a 200-day simple moving average of $53.75. The firm has a market cap of $2.91 billion, a P/E ratio of 13.50, a P/E/G ratio of 2.49 and a beta of 1.36.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Tuesday, September 22nd. The construction company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.88 by $0.17. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.30 billion. KB Home had a return on equity of 6.56% and a net margin of 4.39%. The business’s revenue for the quarter was down 20.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 earnings per share. On average, research analysts predict that KB Home will post 3.26 EPS for the current fiscal year.

Insider Transactions at KB Home

In other KB Home news, Director Arthur Collins sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $56.96, for a total transaction of $227,840.00. Following the completion of the transaction, the director owned 9,157 shares in the company, valued at $521,582.72. The trade was a 30.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Albert Z. Praw sold 22,015 shares of KB Home stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 104,062 shares in the company, valued at $6,108,439.40. This represents a 17.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.69% of the company’s stock.

Institutional Investors Weigh In On KB Home

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KBH. Eastern Bank bought a new position in shares of KB Home in the second quarter valued at approximately $26,000. Bessemer Group Inc. raised its holdings in shares of KB Home by 80.0% during the 1st quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock worth $26,000 after buying an additional 220 shares in the last quarter. Mather Group LLC. bought a new position in KB Home during the 3rd quarter worth approximately $34,000. Ameritas Advisory Services LLC purchased a new stake in shares of KB Home in the second quarter worth approximately $46,000. Finally, Polaris Financial Partners purchased a new stake in KB Home during the third quarter valued at about $43,000. Institutional investors own 96.09% of the company’s stock.

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.