KB Home (NYSE:KBH) Given New $60.00 Price Target at Barclays

by · The Markets Daily

KB Home (NYSE:KBH – Get Free Report) had its price objective dropped by research analysts at Barclays from $85.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Barclays‘s price target indicates a potential downside of 9.41% from the company’s current price.

Several other brokerages have also recently issued reports on KBH. Royal Bank of Canada upgraded KB Home from an “underperform” rating to a “sector perform” rating and reduced their price objective for the company from $70.00 to $67.00 in a research note on Friday. Wells Fargo & Company reduced their price target on KB Home from $74.00 to $65.00 and set an “underweight” rating on the stock in a research report on Monday. Wedbush raised their target price on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price target on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, Evercore ISI raised their price objective on shares of KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, KB Home presently has a consensus rating of “Hold” and a consensus price target of $76.50.

Check Out Our Latest Stock Analysis on KBH

KB Home Trading Up 3.4 %

KB Home stock traded up $2.15 during midday trading on Tuesday, reaching $66.23. 3,901,584 shares of the stock traded hands, compared to its average volume of 1,657,727. The firm has a market cap of $4.86 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 0.57 and a beta of 1.86. The company has a 50-day simple moving average of $73.85 and a two-hundred day simple moving average of $78.01. KB Home has a 12-month low of $58.05 and a 12-month high of $89.70.

KB Home (NYSE:KBH – Get Free Report) last announced its quarterly earnings data on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.08. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.99 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.85 earnings per share. Equities research analysts anticipate that KB Home will post 8.42 earnings per share for the current year.

Institutional Investors Weigh In On KB Home

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its position in KB Home by 24.5% during the 3rd quarter. Barclays PLC now owns 196,229 shares of the construction company’s stock worth $16,816,000 after acquiring an additional 38,638 shares during the period. Charles Schwab Investment Management Inc. grew its position in KB Home by 22.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after buying an additional 164,010 shares during the last quarter. Neo Ivy Capital Management acquired a new position in KB Home in the 3rd quarter valued at $956,000. Cerity Partners LLC raised its position in KB Home by 24.7% during the 3rd quarter. Cerity Partners LLC now owns 38,742 shares of the construction company’s stock worth $3,320,000 after buying an additional 7,679 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in shares of KB Home by 62.1% in the 3rd quarter. Citigroup Inc. now owns 107,051 shares of the construction company’s stock worth $9,173,000 after acquiring an additional 40,992 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Company Profile

(Get Free Report)

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.

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