KB Home (KBH) Price Target Raised to $17.00 at Royal Bank Of Canada
KB Home (NYSE:KBH) had its price target increased by research analysts at Royal Bank Of Canada from $16.00 to $17.00 in a report issued on Wednesday. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 13.86% from the stock’s current price.
Several other research firms have also commented on KBH. Zacks Investment Research upgraded KB Home from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Monday, July 18th. Argus restated a “hold” rating on shares of KB Home in a research report on Monday, July 18th. Buckingham Research lowered KB Home from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a research report on Monday, July 18th. Wedbush assumed coverage on KB Home in a research report on Monday. They set an “outperform” rating and a $22.00 price target for the company. Finally, MKM Partners set a $13.00 price target on KB Home and gave the stock a “hold” rating in a research report on Wednesday, September 14th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. KB Home presently has an average rating of “Hold” and an average target price of $15.47.
Shares of KB Home (NYSE:KBH) opened at 14.93 on Wednesday. The firm’s 50-day moving average price is $15.47 and its 200-day moving average price is $14.62. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 15.28 and a beta of 1.96. KB Home has a 12 month low of $9.04 and a 12 month high of $16.76.
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KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, September 20th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The company earned $913.30 million during the quarter. KB Home had a return on equity of 5.83% and a net margin of 2.89%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 earnings per share. Equities research analysts expect that KB Home will post $1.34 EPS for the current year.
In related news, CEO Jeffrey T. Mezger sold 230,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $16.43, for a total transaction of $3,778,900.00. Following the transaction, the chief executive officer now owns 606,716 shares of the company’s stock, valued at $9,968,343.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey T. Mezger sold 110,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $16.39, for a total value of $1,802,900.00. Following the transaction, the chief executive officer now directly owns 606,716 shares in the company, valued at approximately $9,944,075.24. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in shares of KB Home during the second quarter worth $161,000. Teacher Retirement System of Texas raised its stake in shares of KB Home by 5.3% in the second quarter. Teacher Retirement System of Texas now owns 10,689 shares of the company’s stock worth $163,000 after buying an additional 538 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of KB Home during the second quarter worth $166,000. Wedbush Securities Inc. acquired a new stake in shares of KB Home during the second quarter worth $189,000. Finally, Bank of Montreal Can acquired a new stake in shares of KB Home during the second quarter worth $219,000. 92.39% of the stock is currently owned by hedge funds and other institutional investors.
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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