KB Home (NYSE:KBH) Price Target Lowered to $76.00 at Bank of America

KB Home (NYSE:KBH) had its price objective cut by research analysts at Bank of America from $80.00 to $76.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. Bank of America‘s price target points to a potential upside of 18.62% from the stock’s previous close.

A number of other brokerages have also recently issued reports on KBH. Evercore ISI upped their price target on shares of KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday. 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 note on Wednesday, September 25th. Royal Bank of Canada raised shares of KB Home from an “underperform” rating to a “sector perform” rating and reduced their price target for the company from $70.00 to $67.00 in a research report on Friday. Barclays cut KB Home from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $99.00 to $85.00 in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. reduced their target price on KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $78.58.

KB Home Stock Performance

Shares of KBH opened at $64.07 on Tuesday. KB Home has a fifty-two week low of $58.05 and a fifty-two week high of $89.70. The firm’s 50-day simple moving average is $73.85 and its two-hundred day simple moving average is $78.01. The stock has a market cap of $4.70 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 0.57 and a beta of 1.86.

KB Home (NYSE:KBH) last posted 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 company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.99 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the company earned $1.85 EPS. Equities research analysts predict that KB Home will post 8.42 EPS for the current year.

Institutional Investors Weigh In On KB Home

Large investors have recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in shares of KB Home in the 3rd quarter worth approximately $32,000. Riggs Asset Managment Co. Inc. purchased a new stake in KB Home during the third quarter valued at approximately $43,000. Versant Capital Management Inc raised its position in KB Home by 275.7% in the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after acquiring an additional 557 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of KB Home during the 3rd quarter worth $59,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of KB Home during the 3rd quarter valued at $61,000. 96.09% of the stock is currently owned by institutional investors.

KB Home Company Profile

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.