KB Home (KBH) Shares Up 2.2% Following Analyst Upgrade
KB Home (NYSE:KBH)’s share price rose 2.2% during trading on Monday after Barclays PLC raised their price target on the stock from $17.00 to $18.00. Barclays PLC currently has an underweight rating on the stock. KB Home traded as high as $24.60 and last traded at $24.66. Approximately 4,022,000 shares were traded during trading, an increase of 78% from the average daily volume of 2,254,920 shares. The stock had previously closed at $24.12.
KBH has been the subject of a number of other research reports. Zacks Investment Research cut shares of KB Home from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Wedbush set a $22.00 target price on shares of KB Home and gave the stock a “buy” rating in a report on Thursday, June 15th. Credit Suisse Group started coverage on shares of KB Home in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $23.00 price target on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $25.00 price target (up previously from $22.00) on shares of KB Home in a research note on Friday, June 23rd. Finally, Bank of America Corporation upped their price target on shares of KB Home from $17.00 to $19.00 and gave the company an “underperform” rating in a research note on Wednesday, June 28th. 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 company’s stock. The company currently has an average rating of “Hold” and an average target price of $21.60.
In related news, SVP William R. Hollinger sold 57,405 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $23.19, for a total value of $1,331,221.95. Following the completion of the transaction, the senior vice president now owns 214,306 shares of the company’s stock, valued at $4,969,756.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey T. Mezger sold 400,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 682,996 shares of the company’s stock, valued at approximately $15,579,138.76. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in KB Home by 19,999.6% during the first quarter. BlackRock Inc. now owns 10,064,270 shares of the construction company’s stock worth $200,078,000 after buying an additional 10,014,198 shares in the last quarter. Vanguard Group Inc. raised its position in shares of KB Home by 7.7% in the 2nd quarter. Vanguard Group Inc. now owns 6,884,880 shares of the construction company’s stock valued at $165,031,000 after buying an additional 492,594 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of KB Home by 16.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,803,374 shares of the construction company’s stock valued at $67,196,000 after buying an additional 394,584 shares in the last quarter. State Street Corp raised its position in shares of KB Home by 3.2% in the 2nd quarter. State Street Corp now owns 2,665,501 shares of the construction company’s stock valued at $63,890,000 after buying an additional 83,179 shares in the last quarter. Finally, Capital World Investors raised its position in shares of KB Home by 30.1% in the 2nd quarter. Capital World Investors now owns 2,117,000 shares of the construction company’s stock valued at $50,744,000 after buying an additional 490,000 shares in the last quarter. Hedge funds and other institutional investors own 98.37% of the company’s stock.
The stock has a market capitalization of $2.12 billion, a P/E ratio of 17.66 and a beta of 1.53. The company’s 50-day moving average is $21.84 and its 200 day moving average is $21.68.
KB Home (NYSE:KBH) last issued its quarterly earnings data on Thursday, September 28th. The construction company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. KB Home had a return on equity of 7.57% and a net margin of 3.22%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. On average, equities analysts predict that KB Home will post $1.73 earnings per share for the current fiscal year.
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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