KB Home (NYSE:KBH) Price Target Cut to $74.00 by Analysts at Wells Fargo & Company

KB Home (NYSE:KBH) had its target price reduced by Wells Fargo & Company from $83.00 to $74.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the construction company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 4.55% from the stock’s previous close.

Several other research firms have also issued reports on KBH. Wedbush lifted their price target on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price objective on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a research report on Friday. Royal Bank of Canada downgraded shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective on the stock. in a report on Thursday, September 5th. Bank of America increased their price objective on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Finally, The Goldman Sachs Group increased their price objective on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.17.

KB Home Price Performance

Shares of KBH stock traded down $0.50 during trading hours on Tuesday, reaching $70.78. The company had a trading volume of 190,801 shares, compared to its average volume of 1,198,780. The business has a fifty day simple moving average of $79.66 and a 200-day simple moving average of $78.53. KB Home has a 12 month low of $58.05 and a 12 month high of $89.70. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 0.59 and a beta of 1.81.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.02). The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned $1.80 earnings per share. On average, equities research analysts expect that KB Home will post 8.42 earnings per share for the current year.

Insider Buying and Selling at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KB Home

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. increased its position in KB Home by 12.1% in the 3rd quarter. Franklin Resources Inc. now owns 65,715 shares of the construction company’s stock worth $5,337,000 after buying an additional 7,100 shares during the period. Castellan Group boosted its position in KB Home by 0.8% during the third quarter. Castellan Group now owns 75,585 shares of the construction company’s stock valued at $6,477,000 after purchasing an additional 570 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of KB Home during the 3rd quarter worth approximately $59,000. World Investment Advisors LLC bought a new position in shares of KB Home during the 3rd quarter worth approximately $1,226,000. Finally, Sanctuary Advisors LLC lifted its position in shares of KB Home by 5.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 11,080 shares of the construction company’s stock valued at $880,000 after acquiring an additional 545 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

About KB Home

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.