KB Home (KBH) PT Raised to $17.00
KB Home (NYSE:KBH) had its target price raised by research analysts at Royal Bank Of Canada from $16.00 to $17.00 in a research note issued to investors on Wednesday. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 13.86% from the company’s previous close.
Several other equities analysts have also issued reports on KBH. MKM Partners reaffirmed a “hold” rating on shares of KB Home in a research note on Tuesday, June 7th. Zacks Investment Research lowered KB Home from a “hold” rating to a “sell” rating in a research note on Tuesday, June 7th. FBR & Co upped their price target on KB Home from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday, June 22nd. Credit Suisse Group AG reaffirmed a “sell” rating and set a $11.50 price target on shares of KB Home in a research note on Wednesday, June 22nd. Finally, TheStreet raised KB Home from a “hold” rating to a “buy” rating in a research note on Wednesday, June 22nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $15.47.
KB Home (NYSE:KBH) opened at 14.93 on Wednesday. The company’s 50-day moving average price is $15.47 and its 200-day moving average price is $14.62. The firm 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 posted its quarterly earnings data on Tuesday, September 20th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $913.30 million for the quarter. KB Home had a return on equity of 5.83% and a net margin of 2.89%. KB Home’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS. Equities analysts expect that KB Home will post $1.34 EPS for the current fiscal year.
In related news, CEO Jeffrey T. Mezger sold 110,000 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $16.39, for a total transaction of $1,802,900.00. Following the completion of the transaction, the chief executive officer now directly owns 606,716 shares of the company’s stock, valued at $9,944,075.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey T. Mezger sold 500,000 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $16.47, for a total value of $8,235,000.00. Following the transaction, the insider now directly owns 606,716 shares of the company’s stock, valued at $9,992,612.52. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new position in shares of KB Home during the first quarter valued at approximately $529,000. Lazard Asset Management LLC bought a new position in shares of KB Home during the first quarter valued at approximately $1,455,000. Canada Pension Plan Investment Board boosted its position in shares of KB Home by 254.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,212,894 shares of the company’s stock valued at $17,320,000 after buying an additional 871,100 shares during the period. Spark Investment Management LLC bought a new position in shares of KB Home during the first quarter valued at approximately $3,135,000. Finally, Landscape Capital Management L.L.C. boosted its position in shares of KB Home by 57.6% in the first quarter. Landscape Capital Management L.L.C. now owns 72,200 shares of the company’s stock valued at $1,031,000 after buying an additional 26,400 shares during the period. 92.39% of the stock is owned by hedge funds and other institutional investors.
KB Home Company Profile
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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