KB Home (KBH) Upgraded at Mizuho
Mizuho upgraded shares of KB Home (NYSE:KBH) from an underperform rating to a neutral rating in a research note published on Friday morning, MarketBeat.com reports. They currently have $21.00 target price on the construction company’s stock.
Several other research firms have also weighed in on KBH. Zacks Investment Research lowered 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 price objective on shares of KB Home and gave the company a buy rating in a report on Thursday, June 15th. Credit Suisse Group began coverage on shares of KB Home in a research note on Thursday, June 22nd. They issued a neutral rating and a $23.00 target price for the company. Royal Bank Of Canada reaffirmed a sector perform rating and issued a $25.00 target price (up previously from $22.00) on shares of KB Home in a research note on Friday, June 23rd. Finally, Bank of America Corporation increased their target price on shares of KB Home from $17.00 to $19.00 and gave the stock an underperform rating in a report on Wednesday, June 28th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. KB Home presently has an average rating of Hold and a consensus target price of $21.20.
Shares of KB Home (NYSE:KBH) opened at 24.12 on Friday. KB Home has a 52 week low of $14.06 and a 52 week high of $24.60. The firm has a market capitalization of $2.07 billion, a P/E ratio of 17.24 and a beta of 1.53. The firm’s 50-day moving average is $22.15 and its 200 day moving average is $21.46.
KB Home (NYSE:KBH) last posted its earnings results on Thursday, September 28th. The construction company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. KB Home had a return on equity of 7.57% and a net margin of 3.22%. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 EPS. Equities research analysts forecast that KB Home will post $1.68 EPS for the current fiscal year.
In other news, insider Jeffrey T. Mezger sold 400,000 shares of KB Home stock in a transaction that occurred on 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 sale, the insider now directly owns 682,996 shares in the company, valued at $15,579,138.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William R. Hollinger sold 57,405 shares of KB Home stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $23.19, for a total transaction of $1,331,221.95. Following the completion of the sale, the senior vice president now owns 214,306 shares in the company, valued at $4,969,756.14. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Creative Planning boosted its holdings in KB Home by 34.9% during the second quarter. Creative Planning now owns 4,289 shares of the construction company’s stock worth $103,000 after purchasing an additional 1,110 shares during the last quarter. Envestnet Asset Management Inc. grew its position 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 valued at $134,000 after purchasing an additional 639 shares in the last quarter. Victory Capital Management Inc. grew its position 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 valued at $140,000 after purchasing an additional 2,020 shares in the last quarter. LS Investment Advisors LLC grew its position 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 valued at $156,000 after purchasing an additional 991 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position 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 valued at $187,000 after purchasing an additional 2,100 shares in the last quarter. 98.37% of the stock is currently owned by institutional investors and hedge funds.
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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