KB Home (KBH) Downgraded to “Neutral” at Wedbush
KB Home (NYSE:KBH) was downgraded by investment analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports.
Other research analysts have also issued reports about the company. BTIG Research reissued a “sell” rating and issued a $16.00 price objective on shares of KB Home in a research report on Monday, October 2nd. Royal Bank Of Canada reissued a “hold” rating and issued a $25.00 price objective on shares of KB Home in a research report on Tuesday, August 29th. Credit Suisse Group started coverage on KB Home in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $23.00 price objective for the company. Zacks Investment Research lowered KB Home from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. Finally, Keefe, Bruyette & Woods set a $24.00 price objective on KB Home and gave the stock a “hold” rating in a research report on Saturday, August 19th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $21.93.
KB Home (NYSE KBH) traded up 0.07% during midday trading on Thursday, reaching $27.05. The company had a trading volume of 1,609,968 shares. The company has a market capitalization of $2.34 billion, a PE ratio of 37.57 and a beta of 1.54. The stock has a 50-day moving average price of $23.60 and a 200 day moving average price of $22.35. KB Home has a 12-month low of $14.06 and a 12-month high of $27.67.
KB Home (NYSE:KBH) last announced its earnings results on Thursday, September 28th. The construction company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. KB Home had a return on equity of 7.57% and a net margin of 3.22%. KB Home’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. Equities analysts forecast that KB Home will post $1.74 EPS for the current year.
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In other news, EVP Brian J. Woram sold 49,529 shares of the company’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $27.11, for a total value of $1,342,731.19. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP William R. Hollinger sold 57,405 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $23.19, for a total transaction of $1,331,221.95. Following the completion of the transaction, the senior vice president now directly owns 214,306 shares in the company, valued at approximately $4,969,756.14. The disclosure for this sale can be found here. Insiders have sold a total of 656,934 shares of company stock worth $15,675,453 in the last three months. Insiders own 8.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of KB Home by 0.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 14,426 shares of the construction company’s stock worth $219,000 after purchasing an additional 94 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of KB Home by 0.4% in the second quarter. Meeder Asset Management Inc. now owns 48,655 shares of the construction company’s stock worth $1,167,000 after purchasing an additional 204 shares during the period. Amalgamated Bank increased its holdings in shares of KB Home by 2.5% in the second quarter. Amalgamated Bank now owns 11,945 shares of the construction company’s stock worth $286,000 after purchasing an additional 289 shares during the period. Advantus Capital Management Inc increased its holdings in shares of KB Home by 3.0% in the first quarter. Advantus Capital Management Inc now owns 10,648 shares of the construction company’s stock worth $212,000 after purchasing an additional 309 shares during the period. Finally, Comerica Bank increased its holdings in shares of KB Home by 0.6% in the second quarter. Comerica Bank now owns 64,359 shares of the construction company’s stock worth $1,506,000 after purchasing an additional 396 shares during the period. 97.28% of the stock is currently owned by hedge funds and other institutional investors.
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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