KB Home (KBH) PT Lowered to $27.00
KB Home (NYSE:KBH) had its price objective decreased by Credit Suisse Group from $29.00 to $27.00 in a research note published on Wednesday morning. Credit Suisse Group currently has a hold rating on the construction company’s stock.
KBH has been the topic of several other reports. Citigroup raised their price objective on KB Home from $27.00 to $28.00 and gave the company a neutral rating in a research note on Wednesday, June 27th. MKM Partners set a $32.00 price objective on KB Home and gave the company a hold rating in a research note on Wednesday. Bank of America upgraded KB Home from an underperform rating to a buy rating and raised their price objective for the company from $32.00 to $37.00 in a research note on Friday, June 29th. JMP Securities upgraded KB Home from a market perform rating to an outperform rating and set a $30.00 price objective on the stock in a research note on Wednesday. Finally, Barclays upgraded KB Home from an underweight rating to an equal weight rating in a research note on Friday, June 29th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $31.06.
NYSE:KBH traded down $0.42 during trading hours on Wednesday, hitting $24.09. 57,328 shares of the company traded hands, compared to its average volume of 1,816,671. KB Home has a one year low of $21.32 and a one year high of $38.80. The stock has a market cap of $2.22 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 0.51 and a beta of 1.38.
In other news, insider Jeffrey T. Mezger sold 272,818 shares of KB Home stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $23.39, for a total transaction of $6,381,213.02. Following the sale, the insider now directly owns 861,287 shares in the company, valued at approximately $20,145,502.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey T. Mezger sold 100,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $23.56, for a total value of $2,356,000.00. Following the completion of the sale, the chief executive officer now owns 861,287 shares in the company, valued at $20,291,921.72. The disclosure for this sale can be found here. Insiders have sold a total of 497,818 shares of company stock worth $11,752,213 over the last quarter. Company insiders own 8.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Northern Trust Corp raised its stake in KB Home by 5.7% in the 2nd quarter. Northern Trust Corp now owns 2,047,845 shares of the construction company’s stock valued at $55,784,000 after acquiring an additional 109,984 shares during the period. South Street Advisors LLC raised its stake in KB Home by 2.6% in the 2nd quarter. South Street Advisors LLC now owns 194,272 shares of the construction company’s stock valued at $5,291,000 after acquiring an additional 4,980 shares during the period. Verition Fund Management LLC raised its stake in KB Home by 84.7% in the 2nd quarter. Verition Fund Management LLC now owns 14,965 shares of the construction company’s stock valued at $408,000 after acquiring an additional 6,863 shares during the period. Zacks Investment Management raised its stake in KB Home by 5.3% in the 2nd quarter. Zacks Investment Management now owns 56,337 shares of the construction company’s stock valued at $1,535,000 after acquiring an additional 2,831 shares during the period. Finally, Voya Investment Management LLC raised its stake in KB Home by 10.0% in the 2nd quarter. Voya Investment Management LLC now owns 266,046 shares of the construction company’s stock valued at $7,247,000 after acquiring an additional 24,259 shares during the period. Institutional investors and hedge funds own 85.33% of the company’s stock.
KB Home Company Profile
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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