KB Home (NYSE:KBH) PT Raised to $75.00

KB Home (NYSE:KBH) had its price target hoisted by equities researchers at Wedbush from $67.00 to $75.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. Wedbush’s price objective points to a potential downside of 11.04% from the company’s current price.

Several other equities research analysts also recently commented on KBH. Royal Bank of Canada downgraded KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price for the company. in a report on Thursday, September 5th. Evercore ISI upped their price objective on shares of KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Bank of America lifted their target price on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Keefe, Bruyette & Woods boosted their price target on shares of KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Finally, The Goldman Sachs Group raised their price objective on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, KB Home presently has a consensus rating of “Hold” and a consensus target price of $77.27.

KB Home Price Performance

Shares of KBH opened at $84.31 on Wednesday. The firm’s 50 day moving average is $82.37 and its 200-day moving average is $73.43. KB Home has a 12-month low of $42.11 and a 12-month high of $89.70. The stock has a market capitalization of $6.34 billion, a P/E ratio of 11.15, a P/E/G ratio of 0.89 and a beta of 1.81.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a return on equity of 15.66% and a net margin of 9.43%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm posted $1.80 EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts forecast that KB Home will post 8.38 EPS for the current fiscal year.

Institutional Trading of KB Home

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of KB Home in the fourth quarter worth about $36,761,000. LSV Asset Management lifted its holdings in KB Home by 118.4% in the 2nd quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock worth $74,138,000 after purchasing an additional 572,800 shares during the last quarter. Swedbank AB bought a new stake in KB Home during the first quarter worth approximately $13,047,000. WINTON GROUP Ltd grew its holdings in KB Home by 754.7% during the second quarter. WINTON GROUP Ltd now owns 206,789 shares of the construction company’s stock valued at $14,512,000 after purchasing an additional 182,595 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of KB Home by 9.6% in the second quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock valued at $118,244,000 after purchasing an additional 147,326 shares during the period. 96.09% of the stock is currently owned by institutional investors and hedge funds.

About KB Home

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.