Evercore ISI Raises KB Home (NYSE:KBH) Price Target to $89.00

KB Home (NYSE:KBH) had its price target hoisted by Evercore ISI from $86.00 to $89.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

A number of other equities research analysts have also recently commented on KBH. Wedbush increased their target price on KB Home from $64.00 to $67.00 and gave the company a neutral rating in a report on Thursday, June 20th. JPMorgan Chase & Co. increased their price objective on KB Home from $68.50 to $70.50 and gave the company a neutral rating in a research note on Wednesday, March 27th. Zelman & Associates reissued an underperform rating and issued a $69.00 target price on shares of KB Home in a research note on Monday, May 13th. Royal Bank of Canada raised their price target on shares of KB Home from $69.00 to $70.00 and gave the stock a sector perform rating in a research note on Thursday, June 20th. Finally, StockNews.com lowered shares of KB Home from a buy rating to a hold rating in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $71.88.

KB Home Stock Down 1.7 %

KB Home stock opened at $80.74 on Monday. The firm has a market capitalization of $6.07 billion, a PE ratio of 10.68, a P/E/G ratio of 0.78 and a beta of 1.80. KB Home has a 52 week low of $42.11 and a 52 week high of $82.79. The firm’s 50-day simple moving average is $70.25 and its 200 day simple moving average is $66.40.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, June 18th. The construction company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.37. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.64 billion. KB Home had a net margin of 9.43% and a return on equity of 15.66%. On average, research analysts expect that KB Home will post 8.31 EPS for the current fiscal year.

Insider Activity

In related news, Director Thomas W. Gilligan sold 3,914 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $70.48, for a total value of $275,858.72. Following the transaction, the director now directly owns 48,217 shares of the company’s stock, valued at approximately $3,398,334.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Thomas W. Gilligan sold 3,914 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $70.48, for a total transaction of $275,858.72. Following the completion of the sale, the director now owns 48,217 shares in the company, valued at approximately $3,398,334.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Albert Z. Praw sold 22,160 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $70.11, for a total transaction of $1,553,637.60. Following the completion of the transaction, the executive vice president now owns 135,512 shares in the company, valued at approximately $9,500,746.32. The disclosure for this sale can be found here. Corporate insiders own 4.44% of the company’s stock.

Hedge Funds Weigh In On KB Home

Several hedge funds and other institutional investors have recently made changes to their positions in KBH. Vanguard Group Inc. lifted its stake in shares of KB Home by 3.5% during the third quarter. Vanguard Group Inc. now owns 7,819,706 shares of the construction company’s stock worth $361,896,000 after purchasing an additional 263,194 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of KB Home by 2.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company’s stock valued at $63,692,000 after buying an additional 18,981 shares during the period. Wedge Capital Management L L P NC lifted its position in KB Home by 2,728.9% during the 1st quarter. Wedge Capital Management L L P NC now owns 642,869 shares of the construction company’s stock worth $45,567,000 after acquiring an additional 620,144 shares in the last quarter. Norges Bank acquired a new position in KB Home during the 4th quarter worth approximately $36,761,000. Finally, Principal Financial Group Inc. boosted its holdings in KB Home by 1.3% in the 4th quarter. Principal Financial Group Inc. now owns 320,087 shares of the construction company’s stock worth $19,993,000 after acquiring an additional 3,983 shares during the period. 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.