KB Home (NYSE:KBH) Stock Price Target Lowered at Keefe, Bruyette & Woods

by · The Markets Daily

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

Several other equities analysts also recently weighed in on the stock. Evercore set a $59.00 price target on shares of KB Home in a report on Wednesday, September 23rd. Barclays cut their price target on KB Home from $57.00 to $49.00 and set an “overweight” rating for the company in a research note on Wednesday, September 23rd. 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 research note on Friday, September 11th. UBS Group reissued a “buy” rating on shares of KB Home in a research note on Wednesday, September 23rd. Finally, Morgan Stanley began coverage on KB Home in a research note on Thursday. They issued an “underweight” rating and a $39.00 price target for the company. Four investment 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 an average rating of “Hold” and an average price target of $53.92.

Read Our Latest Research Report on KB Home

KB Home Trading Down 1.6%

NYSE KBH traded down $0.75 during trading hours on Monday, hitting $45.00. 350,975 shares of the company’s stock traded hands, compared to its average volume of 1,222,967. KB Home has a 52 week low of $44.03 and a 52 week high of $67.57. The firm has a market capitalization of $2.76 billion, a P/E ratio of 12.67, a P/E/G ratio of 2.37 and a beta of 1.34. The business’s fifty day moving average price is $52.74 and its two-hundred day moving average price is $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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm posted $1.61 EPS. The company’s revenue for the quarter was down 20.0% compared to the same quarter last year. On average, sell-side analysts expect that KB Home will post 3.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Albert Z. Praw sold 22,015 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $58.70, for a total value of $1,292,280.50. Following the completion of the transaction, the executive vice president owned 104,062 shares of the company’s stock, valued at approximately $6,108,439.40. The trade was a 17.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arthur Collins sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $56.96, for a total transaction of $227,840.00. Following the sale, the director owned 9,157 shares of the company’s stock, valued at approximately $521,582.72. This represents a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its holdings in shares of KB Home by 80.0% in the 1st quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock worth $26,000 after purchasing an additional 220 shares during the last quarter. QRG Capital Management Inc. raised its stake in KB Home by 3.5% during the 2nd quarter. QRG Capital Management Inc. now owns 7,446 shares of the construction company’s stock valued at $466,000 after acquiring an additional 252 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in KB Home by 15.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,275 shares of the construction company’s stock worth $128,000 after purchasing an additional 304 shares during the period. Eastern Bank acquired a new stake in shares of KB Home in the 2nd quarter worth approximately $26,000. Finally, Cim Investment Management Inc. lifted its position in KB Home by 7.3% in the second quarter. Cim Investment Management Inc. now owns 7,802 shares of the construction company’s stock worth $488,000 after purchasing an additional 528 shares during the period. 96.09% of the stock is currently owned by institutional investors.

About KB Home

(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.

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