KB Home’s (KBH) “Buy” Rating Reaffirmed at Wedbush
KBH has been the subject of a number of other research reports. Deutsche Bank AG boosted their price objective on KB Home from $20.00 to $23.00 and gave the stock a hold rating in a report on Friday, June 30th. MKM Partners restated a neutral rating on shares of KB Home in a report on Tuesday, September 5th. Royal Bank Of Canada restated a hold rating and set a $25.00 price objective on shares of KB Home in a report on Tuesday, August 29th. Barclays PLC restated a sell rating and set a $17.00 price objective on shares of KB Home in a report on Friday, June 30th. Finally, Credit Suisse Group started coverage on KB Home in a report on Thursday, June 22nd. They set a neutral rating and a $23.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $20.93.
KB Home (NYSE:KBH) traded up 0.48% during trading on Friday, reaching $20.88. The company’s stock had a trading volume of 5,762,489 shares. The stock has a market cap of $1.79 billion, a P/E ratio of 16.09 and a beta of 1.60. KB Home has a 52-week low of $14.06 and a 52-week high of $24.37. The firm’s 50-day moving average is $22.15 and its 200-day moving average is $21.46.
KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, June 27th. The construction company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. KB Home had a return on equity of 7.11% and a net margin of 3.13%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $929.85 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The business’s revenue was up 23.7% on a year-over-year basis. Equities research analysts forecast that KB Home will post $1.69 EPS for the current year.
In other KB Home news, insider Jeffrey T. Mezger sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $22.81, for a total transaction of $9,124,000.00. Following the completion of the transaction, the insider now directly owns 682,996 shares in the company, valued at $15,579,138.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jeff Kaminski sold 163,017 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $23.40, for a total transaction of $3,814,597.80. Following the transaction, the chief financial officer now owns 178,251 shares of the company’s stock, valued at $4,171,073.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 620,422 shares of company stock valued at $14,269,820. Company insiders own 8.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position 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 valued at $200,078,000 after purchasing an additional 10,014,198 shares in the last quarter. Donald Smith & CO. Inc. raised its position in KB Home by 2.5% during the first quarter. Donald Smith & CO. Inc. now owns 6,930,463 shares of the construction company’s stock valued at $137,778,000 after purchasing an additional 169,696 shares in the last quarter. Vanguard Group Inc. raised its position in KB Home by 7.7% during the second quarter. Vanguard Group Inc. now owns 6,884,880 shares of the construction company’s stock valued at $165,031,000 after purchasing an additional 492,594 shares in the last quarter. Dimensional Fund Advisors LP raised its position in KB Home by 16.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,803,374 shares of the construction company’s stock valued at $67,196,000 after purchasing an additional 394,584 shares in the last quarter. Finally, State Street Corp raised its position in KB Home by 3.2% during the second quarter. State Street Corp now owns 2,665,501 shares of the construction company’s stock valued at $63,890,000 after purchasing an additional 83,179 shares in the last quarter. Institutional investors and hedge funds own 98.37% of the company’s stock.
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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