Wells Fargo & Company Has Lowered Expectations for KB Home (NYSE:KBH) Stock Price

KB Home (NYSE:KBH) had its price target dropped by Wells Fargo & Company from $53.00 to $52.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 1.52% from the stock’s current price.

A number of other brokerages have also weighed in on KBH. Royal Bank Of Canada lowered their price target on shares of KB Home from $67.00 to $63.00 and set a “sector perform” rating on the stock in a research report on Tuesday, March 25th. Wedbush restated a “neutral” rating and set a $75.00 target price on shares of KB Home in a research note on Tuesday, March 25th. Barclays decreased their price target on KB Home from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 25th. Bank of America reduced their price objective on KB Home from $58.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Seaport Res Ptn raised KB Home from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, KB Home currently has a consensus rating of “Hold” and a consensus target price of $69.68.

KB Home Stock Down 1.0%

KBH traded down $0.52 during trading on Tuesday, reaching $52.80. 782,506 shares of the stock were exchanged, compared to its average volume of 1,300,317. The stock has a market cap of $3.79 billion, a P/E ratio of 6.45, a price-to-earnings-growth ratio of 3.87 and a beta of 1.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.56 and a current ratio of 6.01. The stock’s 50 day moving average price is $52.87 and its two-hundred day moving average price is $59.84. KB Home has a twelve month low of $48.90 and a twelve month high of $89.70.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.05. KB Home had a return on equity of 15.52% and a net margin of 9.13%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the business earned $2.15 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. Equities analysts expect that KB Home will post 8.42 EPS for the current year.

Insider Buying and Selling at KB Home

In related news, Director Arthur Reginald Collins sold 5,000 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $54.38, for a total value of $271,900.00. Following the sale, the director now owns 10,262 shares in the company, valued at approximately $558,047.56. This trade represents a 32.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.89% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in KBH. SG Americas Securities LLC grew its position in KB Home by 11.5% during the 1st quarter. SG Americas Securities LLC now owns 10,252 shares of the construction company’s stock worth $596,000 after acquiring an additional 1,057 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in KB Home by 112.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 59,131 shares of the construction company’s stock valued at $3,437,000 after buying an additional 31,288 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in KB Home by 73.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company’s stock valued at $35,000 after buying an additional 258 shares during the period. Northern Trust Corp increased its position in shares of KB Home by 7.3% in the fourth quarter. Northern Trust Corp now owns 1,101,300 shares of the construction company’s stock valued at $72,377,000 after acquiring an additional 75,206 shares during the period. Finally, Principal Securities Inc. raised its stake in shares of KB Home by 43.6% during the fourth quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock valued at $39,000 after acquiring an additional 179 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

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.