KB Home (NYSE:KBH)‘s stock had its “buy” rating reissued by equities research analysts at Royal Bank of Canada in a note issued to investors on Thursday, AnalystRatings.com reports. They currently have a $26.00 price target on the construction company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 37.86% from the company’s previous close.
Several other research firms also recently weighed in on KBH. Raymond James upgraded KB Home from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $38.00 to $40.00 in a research note on Tuesday, January 7th. Evercore ISI restated a “buy” rating on shares of KB Home in a research note on Wednesday, December 18th. Zacks Investment Research upped their price target on KB Home to $40.50 in a research note on Thursday, March 5th. ValuEngine downgraded KB Home from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 11th. Finally, SunTrust Banks downgraded KB Home from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $33.03.
Shares of NYSE:KBH traded down $0.61 during mid-day trading on Thursday, reaching $18.86. 387,829 shares of the company traded hands, compared to its average volume of 3,395,003. The company’s 50 day moving average price is $31.05 and its 200-day moving average price is $33.61. The firm has a market cap of $1.41 billion, a PE ratio of 6.57, a PEG ratio of 0.69 and a beta of 1.13. KB Home has a 52 week low of $9.82 and a 52 week high of $40.51.
KB Home (NYSE:KBH) last posted its quarterly earnings results on Thursday, January 9th. The construction company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.02. KB Home had a return on equity of 11.99% and a net margin of 5.90%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the company posted $0.96 EPS. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, analysts forecast that KB Home will post 3.48 EPS for the current year.
In other news, CEO Jeffrey T. Mezger sold 224,951 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $39.01, for a total transaction of $8,775,338.51. Following the sale, the chief executive officer now directly owns 1,098,226 shares of the company’s stock, valued at approximately $42,841,796.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.36% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC raised its holdings in shares of KB Home by 14.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 281,753 shares of the construction company’s stock worth $9,580,000 after acquiring an additional 35,964 shares in the last quarter. California State Teachers Retirement System raised its holdings in KB Home by 2.4% during the 3rd quarter. California State Teachers Retirement System now owns 133,625 shares of the construction company’s stock valued at $4,543,000 after buying an additional 3,096 shares during the period. Jefferies Group LLC raised its holdings in KB Home by 18.8% during the 4th quarter. Jefferies Group LLC now owns 57,150 shares of the construction company’s stock valued at $1,959,000 after buying an additional 9,033 shares during the period. Castleark Management LLC purchased a new stake in KB Home during the 3rd quarter valued at $2,797,000. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in KB Home by 477.7% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,310,371 shares of the construction company’s stock valued at $44,908,000 after buying an additional 1,083,552 shares during the period. 87.45% of the stock is currently owned by institutional investors and hedge funds.
KB Home Company Profile
KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers.
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