JPMorgan Chase & Co. Cuts KB Home (NYSE:KBH) Price Target to $53.00

KB Home (NYSE:KBH) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $63.00 to $53.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 16.30% from the stock’s current price.

Several other equities analysts also recently weighed in on KBH. Bank of America boosted their target price on KB Home from $60.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday, September 18th. Oppenheimer began coverage on KB Home in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. UBS Group reiterated a “buy” rating and set a $83.00 target price on shares of KB Home in a research report on Thursday. Wall Street Zen upgraded shares of KB Home from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Evercore ISI lifted their price objective on shares of KB Home from $70.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, KB Home presently has an average rating of “Hold” and a consensus target price of $65.55.

KB Home Price Performance

NYSE KBH opened at $63.32 on Monday. The business’s fifty day moving average is $61.88 and its 200 day moving average is $56.89. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.23 and a current ratio of 2.13. KB Home has a fifty-two week low of $48.90 and a fifty-two week high of $86.73. The company has a market capitalization of $4.31 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 5.12 and a beta of 1.36.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Wednesday, September 24th. The construction company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.11. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.59 billion. KB Home had a return on equity of 12.91% and a net margin of 7.92%.The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period last year, the firm earned $2.04 earnings per share. Sell-side analysts predict that KB Home will post 8.42 earnings per share for the current year.

Insider Activity at KB Home

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total value of $749,280.00. Following the completion of the sale, the chief operating officer directly owned 78,345 shares in the company, valued at $4,193,024.40. This trade represents a 15.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.89% of the stock is currently owned by company insiders.

Institutional Trading of KB Home

Large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. raised its holdings in shares of KB Home by 73.7% in the first quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company’s stock worth $35,000 after buying an additional 258 shares during the last quarter. Sachetta LLC lifted its position in KB Home by 3,142.9% during the 1st quarter. Sachetta LLC now owns 681 shares of the construction company’s stock worth $40,000 after acquiring an additional 660 shares during the period. Banque Cantonale Vaudoise purchased a new stake in KB Home during the 1st quarter valued at about $40,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of KB Home in the second quarter valued at about $44,000. Finally, Byrne Asset Management LLC raised its stake in shares of KB Home by 51.8% in the first quarter. Byrne Asset Management LLC now owns 774 shares of the construction company’s stock worth $45,000 after purchasing an additional 264 shares during the last quarter. Hedge funds and other institutional investors 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.