KB Home (NYSE:KBH) Price Target Cut to $74.00 by Analysts at Wells Fargo & Company

KB Home (NYSE:KBH) had its target price lowered by analysts at Wells Fargo & Company from $83.00 to $74.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the construction company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 4.55% from the stock’s previous close.

A number of other equities research analysts have also commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a research note on Friday. Barclays lowered KB Home from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $99.00 to $85.00 in a report on Wednesday, December 11th. The Goldman Sachs Group boosted their price target on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada downgraded shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price on the stock. in a research note on Thursday, September 5th. Finally, Wedbush upped their target price on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $79.17.

KB Home Trading Down 0.7 %

NYSE KBH traded down $0.50 on Tuesday, reaching $70.78. The stock had a trading volume of 190,801 shares, compared to its average volume of 1,198,780. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 0.59 and a beta of 1.81. KB Home has a 1 year low of $58.05 and a 1 year high of $89.70. The business has a 50 day moving average price of $79.66 and a 200 day moving average price of $78.53.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the business earned $1.80 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts anticipate that KB Home will post 8.42 earnings per share for the current fiscal year.

Insider Transactions at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the transaction, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,737,156.20. This represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.44% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KB Home

Large investors have recently made changes to their positions in the business. FMR LLC lifted its position in KB Home by 47.9% during the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock valued at $463,690,000 after acquiring an additional 1,752,498 shares during the last quarter. Holocene Advisors LP acquired a new position in KB Home in the third quarter valued at $89,899,000. LSV Asset Management increased its holdings in KB Home by 118.4% in the second quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock valued at $74,138,000 after buying an additional 572,800 shares in the last quarter. WINTON GROUP Ltd grew its stake in KB Home by 754.7% in the 2nd quarter. WINTON GROUP Ltd now owns 206,789 shares of the construction company’s stock worth $14,512,000 after acquiring an additional 182,595 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 worth $77,655,000 after purchasing an additional 164,010 shares during the period. 96.09% of the stock is currently owned by hedge funds and other 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.