KB Home (NYSE:KBH) Price Target Cut to $60.00 by Analysts at Barclays

KB Home (NYSE:KBH) had its price objective lowered by Barclays from $85.00 to $60.00 in a report released on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the construction company’s stock.

A number of other analysts also recently commented on KBH. Royal Bank of Canada upgraded shares of KB Home from an “underperform” rating to a “sector perform” rating and dropped their target price for the stock from $70.00 to $67.00 in a report on Friday, January 10th. JPMorgan Chase & Co. reduced their price objective on KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Bank of America cut their target price on KB Home from $80.00 to $76.00 and set a “neutral” rating on the stock in a research report on Tuesday. Wedbush increased their price target on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company cut their price objective on KB Home from $74.00 to $65.00 and set an “underweight” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, KB Home currently has an average rating of “Hold” and a consensus target price of $76.50.

KB Home Price Performance

Shares of NYSE:KBH opened at $67.36 on Tuesday. The stock’s 50 day moving average price is $73.56 and its 200 day moving average price is $77.99. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 0.57 and a beta of 1.86. KB Home has a 12 month low of $58.05 and a 12 month high of $89.70.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.08. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the firm posted $1.85 earnings per share. The company’s revenue was up 19.5% on a year-over-year basis. On average, sell-side analysts expect that KB Home will post 8.42 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in KBH. Financial Management Professionals Inc. acquired a new stake in shares of KB Home during the 3rd quarter valued at $32,000. Riggs Asset Managment Co. Inc. acquired a new stake in KB Home during the third quarter valued at $43,000. Versant Capital Management Inc grew its stake in KB Home by 275.7% in the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after purchasing an additional 557 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in KB Home in the 3rd quarter worth about $59,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of KB Home during the 3rd quarter worth about $61,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

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.