KB Home (KBH) PT Raised to $38.00
KB Home (NYSE:KBH) had its price objective boosted by equities research analysts at Bank of America from $37.00 to $38.00 in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the construction company’s stock. Bank of America’s price target suggests a potential upside of 59.40% from the stock’s previous close.
Several other analysts also recently weighed in on KBH. JMP Securities raised shares of KB Home from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Wednesday. Zacks Investment Research downgraded shares of KB Home from a “buy” rating to a “hold” rating in a research note on Monday, June 11th. Barclays set a $27.00 price target on shares of KB Home and gave the stock a “hold” rating in a research note on Friday, September 14th. Wedbush lowered their price target on shares of KB Home from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, June 29th. Finally, Credit Suisse Group lowered their price target on shares of KB Home from $32.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, June 29th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. KB Home has an average rating of “Hold” and an average price target of $31.00.
Shares of NYSE:KBH opened at $23.84 on Wednesday. The firm has a market capitalization of $2.22 billion, a P/E ratio of 12.89, a P/E/G ratio of 0.51 and a beta of 1.38. KB Home has a 52-week low of $21.61 and a 52-week high of $38.80.
In other news, CEO Jeffrey T. Mezger sold 100,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $23.56, for a total transaction of $2,356,000.00. Following the completion of the transaction, the chief executive officer now directly owns 861,287 shares of the company’s stock, valued at $20,291,921.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey T. Mezger sold 125,000 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $24.12, for a total transaction of $3,015,000.00. Following the transaction, the insider now directly owns 811,287 shares of the company’s stock, valued at $19,568,242.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 497,818 shares of company stock valued at $11,752,213. Insiders own 8.60% of the company’s stock.
Several large investors have recently modified their holdings of KBH. Itau Unibanco Holding S.A. bought a new position in shares of KB Home during the second quarter valued at about $115,000. CenterStar Asset Management LLC bought a new position in shares of KB Home during the second quarter valued at about $128,000. Cerebellum GP LLC bought a new position in shares of KB Home during the second quarter valued at about $176,000. Point72 Asia Hong Kong Ltd bought a new position in shares of KB Home during the first quarter valued at about $238,000. Finally, Koch Industries Inc. bought a new position in shares of KB Home during the first quarter valued at about $246,000. 85.33% of the stock is owned by hedge funds and other institutional investors.
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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