KB Home (NYSE:KBH) Price Target Lowered to $63.00 at Wells Fargo & Company

KB Home (NYSE:KBH) had its target price lowered by research analysts at Wells Fargo & Company from $65.00 to $63.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “underweight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 3.02% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI lifted their target price on shares of KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 14th. UBS Group dropped their price objective on shares of KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Raymond James restated an “outperform” rating and issued a $80.00 price target (down from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. Royal Bank of Canada raised KB Home from an “underperform” rating to a “sector perform” rating and lowered their price objective for the stock from $70.00 to $67.00 in a research note on Friday, January 10th. Finally, Keefe, Bruyette & Woods cut their target price on KB Home from $85.00 to $76.00 and set a “market perform” rating for the company in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, KB Home has an average rating of “Hold” and a consensus price target of $75.21.

KB Home Stock Performance

KBH stock traded up $0.94 during midday trading on Monday, reaching $64.96. The stock had a trading volume of 88,438 shares, compared to its average volume of 1,368,501. The firm has a fifty day simple moving average of $64.99 and a two-hundred day simple moving average of $74.62. The stock has a market cap of $4.69 billion, a PE ratio of 7.67, a P/E/G ratio of 0.90 and a beta of 1.89. KB Home has a 52-week low of $59.00 and a 52-week high of $89.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Monday, January 13th. The construction company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.08. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.99 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. KB Home’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.85 EPS. As a group, equities research analysts anticipate that KB Home will post 8.42 EPS for the current year.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the sale, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. The trade was a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KB Home

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of KB Home by 47.9% during the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after purchasing an additional 1,752,498 shares during the last quarter. State Street Corp grew its holdings in KB Home by 1.3% in the third quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock valued at $303,285,000 after purchasing an additional 45,311 shares during the period. Invesco Ltd. increased its position in KB Home by 2.4% during the fourth quarter. Invesco Ltd. now owns 2,396,967 shares of the construction company’s stock worth $157,529,000 after purchasing an additional 56,142 shares during the last quarter. Fisher Asset Management LLC raised its stake in KB Home by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company’s stock worth $149,928,000 after purchasing an additional 75,143 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of KB Home by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock valued at $166,125,000 after purchasing an additional 16,593 shares during 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.