Wedbush Reaffirms “Buy” Rating for KB Home (KBH)
KB Home (NYSE:KBH)‘s stock had its “buy” rating reiterated by equities researchers at Wedbush in a report issued on Friday. They presently have a $26.00 price objective on the construction company’s stock. Wedbush’s price target would suggest a potential upside of 24.52% from the company’s previous close.
KBH has been the subject of a number of other research reports. Deutsche Bank AG raised their price target on shares of KB Home from $20.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, June 30th. MKM Partners restated a “neutral” rating on shares of KB Home in a report on Tuesday, September 5th. Royal Bank Of Canada restated a “hold” rating and set a $25.00 price target on shares of KB Home in a report on Tuesday, August 29th. Barclays PLC reiterated a “sell” rating and issued a $17.00 target price on shares of KB Home in a report on Friday, June 30th. Finally, Credit Suisse Group began coverage on shares of KB Home in a report on Thursday, June 22nd. They issued a “neutral” rating and a $23.00 target price for the company. Five 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. The stock presently has a consensus rating of “Hold” and a consensus price target of $20.60.
Shares of KB Home (NYSE:KBH) traded up 0.48% on Friday, hitting $20.88. The company’s stock had a trading volume of 5,761,761 shares. The stock has a 50-day moving average price of $22.15 and a 200 day moving average price of $21.46. KB Home has a one year low of $14.06 and a one year high of $24.37. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 16.09 and a beta of 1.60.
KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, June 27th. The construction company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $929.85 million. KB Home had a net margin of 3.13% and a return on equity of 7.11%. The business’s revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 EPS. Equities research analysts predict that KB Home will post $1.69 EPS for the current year.
In other news, insider Jeffrey T. Mezger sold 400,000 shares of KB Home stock in a transaction on Monday, August 14th. The shares were sold at an average price of $22.81, for a total transaction of $9,124,000.00. Following the completion of the sale, the insider now directly owns 682,996 shares of the company’s stock, valued at approximately $15,579,138.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jeff Kaminski sold 163,017 shares of KB Home stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $23.40, for a total transaction of $3,814,597.80. Following the sale, the chief financial officer now directly owns 178,251 shares of the company’s stock, valued at $4,171,073.40. The disclosure for this sale can be found here. Insiders sold a total of 620,422 shares of company stock valued at $14,269,820 in the last three months. 8.60% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in shares of KB Home by 17.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 93,500 shares of the construction company’s stock worth $2,241,000 after purchasing an additional 13,600 shares during the last quarter. Renaissance Group LLC purchased a new stake in shares of KB Home during the 2nd quarter worth $405,000. Geneva Advisors LLC purchased a new stake in shares of KB Home during the 2nd quarter worth $722,000. Chicago Equity Partners LLC lifted its position in shares of KB Home by 106.3% during the 2nd quarter. Chicago Equity Partners LLC now owns 192,155 shares of the construction company’s stock worth $4,606,000 after purchasing an additional 99,015 shares during the last quarter. Finally, James Investment Research Inc. purchased a new stake in shares of KB Home during the 2nd quarter worth $1,484,000. 98.37% of the stock is owned by institutional investors and hedge funds.
KB Home Company Profile
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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