Bank of America Corp. Reaffirms Sell Rating for KB Home (KBH)
KB Home (NYSE:KBH)‘s stock had its “sell” rating reissued by Bank of America Corp. in a research note issued to investors on Wednesday. They currently have a $12.50 price target on the stock. Bank of America Corp.’s price target indicates a potential downside of 16.28% from the stock’s previous close.
Several other research firms have also recently issued reports on KBH. Zacks Investment Research upgraded KB Home from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Monday, July 18th. Argus restated a “hold” rating on shares of KB Home in a report on Monday, July 18th. Buckingham Research cut KB Home from a “buy” rating to a “neutral” rating and set a $18.00 target price on the stock. in a report on Monday, July 18th. Wedbush began coverage on KB Home in a report on Monday. They set an “outperform” rating and a $22.00 target price on the stock. Finally, MKM Partners set a $13.00 target price on KB Home and gave the stock a “hold” rating in a report on Wednesday, September 14th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. KB Home currently has an average rating of “Hold” and an average price target of $15.27.
Shares of KB Home (NYSE:KBH) traded up 1.6082% on Wednesday, reaching $15.1701. The company had a trading volume of 3,020,561 shares. The stock has a market capitalization of $1.28 billion, a P/E ratio of 15.5272 and a beta of 1.96. The company’s 50 day moving average price is $15.47 and its 200-day moving average price is $14.62. KB Home has a 1-year low of $9.04 and a 1-year high of $16.76.
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KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, September 20th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.03. KB Home had a return on equity of 5.83% and a net margin of 2.89%. The company had revenue of $913.30 million for the quarter. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts predict that KB Home will post $1.34 EPS for the current year.
In other news, insider Jeffrey T. Mezger sold 500,000 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $16.47, for a total transaction of $8,235,000.00. Following the sale, the insider now owns 606,716 shares of the company’s stock, valued at $9,992,612.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey T. Mezger sold 230,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $16.43, for a total value of $3,778,900.00. Following the sale, the chief executive officer now directly owns 606,716 shares in the company, valued at approximately $9,968,343.88. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of KBH. BlackRock Fund Advisors raised its stake in KB Home by 1.8% in the second quarter. BlackRock Fund Advisors now owns 6,104,115 shares of the company’s stock worth $92,844,000 after buying an additional 108,960 shares in the last quarter. Donald Smith & CO. Inc. increased its position in shares of KB Home by 11.6% in the second quarter. Donald Smith & CO. Inc. now owns 4,409,525 shares of the company’s stock worth $67,069,000 after buying an additional 457,484 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of KB Home by 4.3% in the second quarter. Fisher Asset Management LLC now owns 3,708,830 shares of the company’s stock worth $59,823,000 after buying an additional 151,347 shares during the last quarter. Systematic Financial Management LP increased its position in shares of KB Home by 740.8% in the second quarter. Systematic Financial Management LP now owns 3,292,229 shares of the company’s stock worth $50,074,000 after buying an additional 2,900,654 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of KB Home by 85.6% in the second quarter. AQR Capital Management LLC now owns 3,151,739 shares of the company’s stock worth $47,938,000 after buying an additional 1,453,844 shares during the last quarter. 92.39% of the stock is currently owned by institutional investors and hedge funds.
About KB Home
KB Home is a homebuilding company in the United States. The Company constructs and sells a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. Its segments include the West Coast, Southwest, Central and Southeast homebuilding segments, and financial services segment.
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