KB Home (NYSE:KBH) PT Raised to $89.00 at Evercore ISI

KB Home (NYSE:KBH) had its price objective lifted by Evercore ISI from $86.00 to $89.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

Other analysts have also recently issued research reports about the stock. Barclays upped their target price on shares of KB Home from $75.00 to $77.00 and gave the company an overweight rating in a research note on Friday, March 22nd. The Goldman Sachs Group upped their target price on shares of KB Home from $61.00 to $70.00 and gave the company a neutral rating in a research note on Friday, March 22nd. Wells Fargo & Company upped their target price on shares of KB Home from $65.00 to $70.00 and gave the company an equal weight rating in a research note on Thursday, March 21st. Wedbush upped their target price on shares of KB Home from $64.00 to $67.00 and gave the company a neutral rating in a research note on Thursday, June 20th. Finally, Keefe, Bruyette & Woods upped their target price on shares of KB Home from $74.00 to $77.00 and gave the company a market perform rating in a research note on Thursday, June 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, KB Home presently has a consensus rating of Hold and an average price target of $71.88.

KB Home Stock Performance

Shares of KBH opened at $79.90 on Monday. The company has a 50-day simple moving average of $70.44 and a 200-day simple moving average of $66.50. The firm has a market capitalization of $6.01 billion, a P/E ratio of 10.57, a P/E/G ratio of 0.84 and a beta of 1.80. KB Home has a 52 week low of $42.11 and a 52 week high of $83.74.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, June 18th. The construction company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.37. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.64 billion. KB Home had a net margin of 9.43% and a return on equity of 15.66%. As a group, equities analysts forecast that KB Home will post 8.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Thomas W. Gilligan sold 3,914 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $70.48, for a total transaction of $275,858.72. Following the sale, the director now directly owns 48,217 shares of the company’s stock, valued at $3,398,334.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Thomas W. Gilligan sold 3,914 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $70.48, for a total transaction of $275,858.72. Following the sale, the director now directly owns 48,217 shares of the company’s stock, valued at $3,398,334.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Albert Z. Praw sold 22,160 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $70.11, for a total transaction of $1,553,637.60. Following the sale, the executive vice president now directly owns 135,512 shares in the company, valued at $9,500,746.32. The disclosure for this sale can be found here. Insiders own 4.44% of the company’s stock.

Institutional Trading of KB Home

Hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC lifted its holdings in KB Home by 433.0% in the fourth quarter. Manchester Capital Management LLC now owns 485 shares of the construction company’s stock valued at $30,000 after buying an additional 394 shares during the period. Byrne Asset Management LLC acquired a new position in KB Home in the first quarter valued at approximately $41,000. GAMMA Investing LLC acquired a new position in KB Home in the fourth quarter valued at approximately $47,000. Daiwa Securities Group Inc. acquired a new position in KB Home in the fourth quarter valued at approximately $56,000. Finally, Fidelis Capital Partners LLC acquired a new position in KB Home in the first quarter valued at approximately $60,000. 96.09% of the stock is owned by institutional investors.

About KB Home

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.