Wells Fargo & Company Cuts KB Home (NYSE:KBH) Price Target to $57.00

KB Home (NYSE:KBH) had its price objective reduced by equities researchers at Wells Fargo & Company from $63.00 to $57.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 2.00% from the stock’s current price.

KBH has been the topic of a number of other reports. Barclays lowered their target price on KB Home from $60.00 to $56.00 and set an “equal weight” rating on the stock in a report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. UBS Group cut their target price on shares of KB Home from $97.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday. Raymond James restated an “outperform” rating and issued a $80.00 price target (down previously from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada raised KB Home from an “underperform” rating to a “sector perform” rating and dropped their price target for the company from $70.00 to $67.00 in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $72.46.

KB Home Price Performance

NYSE KBH opened at $58.17 on Tuesday. KB Home has a 12 month low of $58.80 and a 12 month high of $89.70. The firm has a market capitalization of $4.16 billion, a PE ratio of 6.86, a P/E/G ratio of 0.90 and a beta of 1.89. The company’s 50 day simple moving average is $64.17 and its 200 day simple moving average is $72.95. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). KB Home had a net margin of 9.45% and a return on equity of 16.46%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the business posted $1.76 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities research analysts forecast that KB Home will post 8.42 EPS for the current fiscal year.

Insider Transactions at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total value of $1,891,175.00. Following the completion of the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This represents a 44.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.89% of the stock is currently owned by insiders.

Institutional Trading of KB Home

Several institutional investors have recently made changes to their positions in KBH. Quest Partners LLC lifted its position in KB Home by 101,600.0% in the 3rd quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock worth $87,000 after buying an additional 1,016 shares in the last quarter. Pathstone Holdings LLC grew its holdings in shares of KB Home by 1.3% during the 3rd quarter. Pathstone Holdings LLC now owns 20,528 shares of the construction company’s stock valued at $1,759,000 after acquiring an additional 263 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of KB Home by 22.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock worth $77,655,000 after acquiring an additional 164,010 shares during the last quarter. Citigroup Inc. raised its holdings in shares of KB Home by 62.1% during the third quarter. Citigroup Inc. now owns 107,051 shares of the construction company’s stock worth $9,173,000 after acquiring an additional 40,992 shares in the last quarter. Finally, Cerity Partners LLC increased its position in KB Home by 24.7% in the 3rd quarter. Cerity Partners LLC now owns 38,742 shares of the construction company’s stock worth $3,320,000 after purchasing an additional 7,679 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Company Profile

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.