Barclays PLC Increases KB Home (KBH) Price Target to $18.00
KB Home (NYSE:KBH) had its price objective boosted by equities research analysts at Barclays PLC from $17.00 to $18.00 in a research report issued to clients and investors on Friday. The brokerage currently has an “underweight” rating on the construction company’s stock. Barclays PLC’s price target would suggest a potential downside of 25.37% from the stock’s previous close.
Several other analysts have also recently issued reports on KBH. Buckingham Research boosted their price objective on shares of KB Home from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday. Credit Suisse Group boosted their price objective on shares of KB Home from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday. Mizuho raised shares of KB Home from an “underperform” rating to a “neutral” rating and set a $21.00 price objective for the company in a research note on Friday. KeyCorp reissued a “hold” rating on shares of KB Home in a research note on Tuesday, September 26th. Finally, Zacks Investment Research cut shares of KB Home from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.20.
KB Home (NYSE:KBH) opened at 24.12 on Friday. KB Home has a 1-year low of $14.06 and a 1-year high of $24.60. The firm has a market capitalization of $2.07 billion, a PE ratio of 17.24 and a beta of 1.60. The firm’s 50-day moving average price is $22.15 and its 200-day moving average price is $21.46.
KB Home (NYSE:KBH) last released its earnings results on Thursday, September 28th. The construction company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.12 billion. KB Home had a net margin of 3.22% and a return on equity of 7.67%. KB Home’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 EPS. On average, equities research analysts predict that KB Home will post $1.68 EPS for the current fiscal year.
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In other KB Home news, insider Jeffrey T. Mezger sold 400,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $22.81, for a total value of $9,124,000.00. Following the transaction, the insider now owns 682,996 shares in the company, valued at approximately $15,579,138.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William R. Hollinger sold 57,405 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $23.19, for a total transaction of $1,331,221.95. Following the completion of the transaction, the senior vice president now owns 214,306 shares in the company, valued at approximately $4,969,756.14. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of KBH. Russell Investments Group Ltd. lifted its holdings in KB Home by 1,401.0% in the 1st quarter. Russell Investments Group Ltd. now owns 79,900 shares of the construction company’s stock worth $1,588,000 after buying an additional 74,577 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in KB Home by 4.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 48,962 shares of the construction company’s stock worth $973,000 after buying an additional 2,093 shares in the last quarter. First Trust Advisors LP lifted its holdings in KB Home by 39.1% in the 1st quarter. First Trust Advisors LP now owns 151,290 shares of the construction company’s stock worth $3,008,000 after buying an additional 42,540 shares in the last quarter. Comerica Bank lifted its holdings in KB Home by 4.6% in the 1st quarter. Comerica Bank now owns 63,963 shares of the construction company’s stock worth $1,352,000 after buying an additional 2,814 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in KB Home by 1.7% in the 1st quarter. Swiss National Bank now owns 125,700 shares of the construction company’s stock worth $2,499,000 after buying an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 98.37% of the company’s stock.
About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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