KB Home (KBH) Rating Reiterated by Bank of America Corp.
KB Home (NYSE:KBH)‘s stock had its “sell” rating reiterated by equities research analysts at Bank of America Corp. in a note issued to investors on Wednesday. They presently have a $12.50 price target on the stock. Bank of America Corp.’s price target indicates a potential downside of 17.93% from the company’s previous close.
A number of other equities research analysts also recently commented on the company. MKM Partners set a $13.00 price objective on KB Home and gave the company a “hold” rating in a research report on Wednesday, September 14th. Wedbush initiated coverage on KB Home in a research report on Monday. They issued an “outperform” rating and a $22.00 price objective for the company. Zacks Investment Research raised KB Home from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Monday, July 18th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $15.00 price objective (up previously from $14.00) on shares of KB Home in a research report on Sunday, June 26th. Finally, Buckingham Research raised KB Home from a “neutral” rating to a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $15.27.
Shares of KB Home (NYSE:KBH) traded up 2.01% during midday trading on Wednesday, reaching $15.23. The company’s stock had a trading volume of 5,777,398 shares. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 15.59 and a beta of 1.96. KB Home has a 52 week low of $9.04 and a 52 week high of $16.76. The firm’s 50 day moving average is $15.47 and its 200 day moving average is $14.62.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/kb-home-kbh-rating-reiterated-by-bank-of-america-corp.html
KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, September 20th. The company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. The business earned $913.30 million during 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. Equities analysts forecast that KB Home will post $1.34 EPS for the current fiscal year.
In other KB Home news, CEO Jeffrey T. Mezger sold 110,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 606,716 shares in the company, valued at $9,944,075.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey T. Mezger sold 230,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 606,716 shares in the company, valued at approximately $9,968,343.88. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank bought a new position in shares of KB Home during the second quarter worth approximately $161,000. Teacher Retirement System of Texas boosted its position 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 bought a new position in shares of KB Home during the second quarter worth approximately $166,000. Wedbush Securities Inc. bought a new position in shares of KB Home during the second quarter worth approximately $189,000. Finally, Seven Eight Capital LLC bought a new position in shares of KB Home during the first quarter worth approximately $219,000. Institutional investors own 92.39% of the company’s stock.
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.
Receive News & Ratings for KB Home Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KB Home and related companies with MarketBeat.com's FREE daily email newsletter.