KB Home (NYSE:KBH – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.
A number of other research analysts have also recently weighed in on KBH. Wall Street Zen upgraded shares of KB Home from a “sell” rating to a “hold” rating in a research note on Saturday. Barclays raised their price target on KB Home from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank Of Canada restated a “sector perform” rating and issued a $53.00 price objective on shares of KB Home in a research report on Wednesday. Weiss Ratings downgraded KB Home from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 7th. Finally, UBS Group upped their price objective on KB Home from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, KB Home has an average rating of “Hold” and a consensus target price of $60.17.
KB Home Trading Up 2.4%
KB Home (NYSE:KBH – Get Free Report) last posted its quarterly earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. KB Home had a return on equity of 7.67% and a net margin of 4.94%.The business’s revenue for the quarter was down 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.50 earnings per share. Sell-side analysts forecast that KB Home will post 3.14 EPS for the current year.
Hedge Funds Weigh In On KB Home
Several institutional investors have recently bought and sold shares of KBH. Freestone Grove Partners LP bought a new stake in KB Home in the 3rd quarter valued at $111,050,000. Norges Bank bought a new position in shares of KB Home during the 4th quarter valued at about $48,418,000. Donald Smith & CO. Inc. boosted its holdings in shares of KB Home by 387.8% during the 4th quarter. Donald Smith & CO. Inc. now owns 725,394 shares of the construction company’s stock valued at $40,919,000 after purchasing an additional 576,694 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of KB Home by 102.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 932,178 shares of the construction company’s stock valued at $52,584,000 after purchasing an additional 471,598 shares in the last quarter. Finally, Engineers Gate Manager LP grew its position in shares of KB Home by 519.2% during the fourth quarter. Engineers Gate Manager LP now owns 353,739 shares of the construction company’s stock valued at $19,954,000 after purchasing an additional 296,615 shares in the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.
KB Home Company Profile
KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.
At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.
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