KB Home (KBH) Earns “Hold” Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reiterated their hold rating on shares of KB Home (NYSE:KBH) in a report issued on Friday morning. The firm currently has a $24.00 target price on the construction company’s stock.
Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of KB Home from a strong-buy rating to a buy rating in a research note on Friday, August 11th. KeyCorp reaffirmed a hold rating on shares of KB Home in a report on Tuesday, September 26th. Mizuho cut shares of KB Home from a neutral rating to an underperform rating and set a $21.00 target price on the stock. in a research report on Monday, July 10th. Credit Suisse Group lifted their target price on shares of KB Home from $24.00 to $25.00 and gave the stock a neutral rating in a research report on Friday. Finally, Barclays PLC boosted their price target on shares of KB Home from $17.00 to $18.00 and gave the stock an underweight rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. KB Home has a consensus rating of Hold and a consensus target price of $21.60.
KB Home (NYSE:KBH) opened at 24.70 on Friday. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 17.66 and a beta of 1.53. The stock’s 50 day moving average is $21.84 and its 200-day moving average is $21.68. KB Home has a one year low of $14.06 and a one year high of $24.79.
KB Home (NYSE:KBH) last released its earnings results on Thursday, September 28th. The construction company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. KB Home had a return on equity of 7.57% and a net margin of 3.22%. KB Home’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. On average, equities research analysts expect that KB Home will post $1.73 earnings per share for the current fiscal year.
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In other news, SVP William R. Hollinger sold 57,405 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $23.19, for a total value of $1,331,221.95. Following the completion of the sale, the senior vice president now directly owns 214,306 shares of the company’s stock, valued at approximately $4,969,756.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey T. Mezger sold 400,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $22.81, for a total transaction of $9,124,000.00. Following the completion of the sale, the insider now directly owns 682,996 shares of the company’s stock, valued at $15,579,138.76. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning increased its position in shares of KB Home by 34.9% during the second quarter. Creative Planning now owns 4,289 shares of the construction company’s stock valued at $103,000 after buying an additional 1,110 shares during the period. Envestnet Asset Management Inc. raised its stake in KB Home by 10.5% in the first quarter. Envestnet Asset Management Inc. now owns 6,749 shares of the construction company’s stock worth $134,000 after buying an additional 639 shares in the last quarter. Victory Capital Management Inc. raised its stake in KB Home by 40.2% in the first quarter. Victory Capital Management Inc. now owns 7,047 shares of the construction company’s stock worth $140,000 after buying an additional 2,020 shares in the last quarter. LS Investment Advisors LLC raised its stake in KB Home by 18.0% in the second quarter. LS Investment Advisors LLC now owns 6,511 shares of the construction company’s stock worth $156,000 after buying an additional 991 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in KB Home by 28.7% in the first quarter. Lazard Asset Management LLC now owns 9,418 shares of the construction company’s stock worth $187,000 after buying an additional 2,100 shares in the last quarter. 98.37% of the stock is currently owned by hedge funds and other institutional investors.
KB Home Company Profile
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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