KB Home (NYSE:KBH) Given New $54.00 Price Target at Keefe, Bruyette & Woods

KB Home (NYSE:KBH – Get Free Report) had its target price reduced by equities researchers at Keefe, Bruyette & Woods from $65.00 to $54.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 20.00% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company dropped their price objective on KB Home from $52.00 to $50.00 and set an “underweight” rating for the company in a report on Friday, September 11th. Zacks Research downgraded KB Home from a “hold” rating to a “strong sell” rating in a report on Thursday, September 17th. Weiss Ratings raised KB Home from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Evercore set a $59.00 price target on shares of KB Home in a report on Wednesday, September 23rd. Finally, Morgan Stanley began coverage on shares of KB Home in a research report on Thursday. They set an “underweight” rating and a $39.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $53.92.

Check Out Our Latest Report on KBH

KB Home Price Performance

KBH traded down $0.75 during trading on Monday, hitting $45.00. 350,975 shares of the stock traded hands, compared to its average volume of 1,222,967. The firm has a market capitalization of $2.76 billion, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 2.37 and a beta of 1.34. KB Home has a 12-month low of $44.03 and a 12-month high of $67.57. The firm has a 50-day moving average of $52.74 and a 200 day moving average of $52.97.

KB Home (NYSE:KBH – Get Free Report) last issued its quarterly earnings data on Tuesday, September 22nd. The construction company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.88 by $0.17. KB Home had a net margin of 4.39% and a return on equity of 6.56%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. The company’s quarterly revenue was down 20.0% compared to the same quarter last year. As a group, equities analysts predict that KB Home will post 3.27 EPS for the current fiscal year.

Insider Buying and Selling at KB Home

In other news, EVP Albert Praw sold 22,015 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $58.70, for a total value of $1,292,280.50. Following the sale, the executive vice president directly owned 104,062 shares of the company’s stock, valued at approximately $6,108,439.40. This represents a 17.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arthur Collins sold 4,000 shares of KB Home stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $56.96, for a total value of $227,840.00. Following the completion of the transaction, the director directly owned 9,157 shares of the company’s stock, valued at approximately $521,582.72. This represents a 30.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.69% of the company’s stock.

Institutional Investors Weigh In On KB Home

Several institutional investors and hedge funds have recently made changes to their positions in KBH. Polaris Financial Partners bought a new stake in shares of KB Home in the 3rd quarter worth $43,000. Cim Investment Management Inc. raised its position in KB Home by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 7,802 shares of the construction company’s stock worth $488,000 after buying an additional 528 shares during the last quarter. QRG Capital Management Inc. raised its position in KB Home by 3.5% in the 2nd quarter. QRG Capital Management Inc. now owns 7,446 shares of the construction company’s stock worth $466,000 after buying an additional 252 shares during the last quarter. Van Hulzen Asset Management LLC bought a new position in KB Home during the 2nd quarter valued at about $563,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of KB Home during the 2nd quarter valued at about $658,000. Institutional investors own 96.09% of the company’s stock.

KB Home Company Profile

(Get Free Report)

KB Home is a national homebuilder that designs, constructs and sells single-family homes and townhomes. The company offers homes in a range of floor plans, sizes and price points, with options that allow buyers to personalize features and finishes. Its communities typically include amenities such as parks, open spaces and other neighborhood improvements.

Founded in 1957, KB Home is headquartered in Los Angeles, California. The company serves residential markets across the United States, including Arizona, California, Colorado, Florida, Idaho, Nevada, North Carolina, South Carolina, Texas and Washington.

See Also

Analyst Recommendations for KB Home (NYSE:KBH)

Receive News & Ratings for KB Home Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KB Home and related companies with MarketBeat.com's FREE daily email newsletter.