Credit Suisse Group Reaffirms “Sell” Rating for KB Home (KBH)
Credit Suisse Group reissued their sell rating on shares of KB Home (NYSE:KBH) in a report published on Thursday. The brokerage currently has a $17.00 price target on the construction company’s stock.
Several other research firms also recently issued reports on KBH. Evercore ISI upgraded KB Home from an in-line rating to an outperform rating in a report on Thursday, October 25th. They noted that the move was a valuation call. Barclays cut their price objective on KB Home from $27.00 to $21.00 and set an equal weight rating on the stock in a report on Thursday, November 15th. Bank of America boosted their price objective on KB Home from $37.00 to $38.00 and gave the stock a buy rating in a report on Wednesday, September 26th. Wedbush cut their price objective on KB Home from $23.00 to $22.00 and set a neutral rating on the stock in a report on Thursday. Finally, Raymond James upgraded KB Home from a market perform rating to an outperform rating and set a $30.00 price objective on the stock in a report on Thursday, September 27th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. KB Home has an average rating of Hold and a consensus price target of $26.78.
Shares of NYSE KBH opened at $21.17 on Thursday. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 7.51, a price-to-earnings-growth ratio of 0.47 and a beta of 1.46. KB Home has a twelve month low of $16.82 and a twelve month high of $38.16.
Institutional investors and hedge funds have recently modified their holdings of the company. First Hawaiian Bank acquired a new position in shares of KB Home in the 3rd quarter valued at about $262,000. Russell Investments Group Ltd. increased its holdings in shares of KB Home by 17.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 122,108 shares of the construction company’s stock valued at $2,919,000 after purchasing an additional 17,871 shares during the period. SG Americas Securities LLC increased its holdings in shares of KB Home by 601.0% in the 3rd quarter. SG Americas Securities LLC now owns 271,393 shares of the construction company’s stock valued at $6,489,000 after purchasing an additional 232,680 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of KB Home by 2,112.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 157,100 shares of the construction company’s stock valued at $3,890,000 after purchasing an additional 150,000 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of KB Home by 283.4% in the 3rd quarter. Prudential Financial Inc. now owns 1,289,413 shares of the construction company’s stock valued at $30,829,000 after purchasing an additional 953,079 shares during the period. Institutional investors own 86.39% of the company’s stock.
About KB Home
KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.
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