KB Home (NYSE:KBH) Upgraded to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of KB Home (NYSE:KBH) from an underperform rating to a sector perform rating in a report published on Friday morning, Marketbeat Ratings reports. They currently have $67.00 target price on the construction company’s stock, down from their prior target price of $70.00.

KBH has been the subject of a number of other research reports. UBS Group cut their price target on shares of KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. Barclays cut shares of KB Home from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $99.00 to $85.00 in a report on Wednesday, December 11th. Wells Fargo & Company lowered their price target on KB Home from $83.00 to $74.00 and set an “underweight” rating on the stock in a report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price objective on KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, Bank of America boosted their target price on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $80.00.

KB Home Stock Performance

NYSE:KBH opened at $63.18 on Friday. KB Home has a 1 year low of $58.05 and a 1 year high of $89.70. The stock has a fifty day moving average price of $74.16 and a two-hundred day moving average price of $77.92. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 0.57 and a beta of 1.86.

Insider Activity at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the completion of the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,737,156.20. The trade was a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.44% of the stock is currently owned by corporate insiders.

Institutional Trading of KB Home

A number of hedge funds have recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new position in shares of KB Home during the 3rd quarter worth $32,000. Riggs Asset Managment Co. Inc. purchased a new stake in KB Home during the 3rd quarter worth approximately $43,000. Wilmington Savings Fund Society FSB acquired a new position in shares of KB Home in the 3rd quarter valued at approximately $59,000. Banque Cantonale Vaudoise purchased a new position in shares of KB Home during the 3rd quarter valued at approximately $61,000. Finally, Versant Capital Management Inc grew its position in shares of KB Home by 275.7% during the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after buying an additional 557 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

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.