KB Home (NYSE:KBH) had its price objective hoisted by Wedbush from $28.00 to $30.00 in a research note issued on Friday. The firm currently has a “neutral” rating on the construction company’s stock. Wedbush’s price target would indicate a potential downside of 6.98% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded KB Home from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Friday, September 22nd. Deutsche Bank restated a “hold” rating and set a $24.00 price objective (up from $23.00) on shares of KB Home in a research report on Monday, October 2nd. Keefe, Bruyette & Woods restated a “hold” rating and set a $24.00 price objective on shares of KB Home in a research report on Friday, September 29th. KeyCorp restated a “hold” rating on shares of KB Home in a research report on Tuesday, September 26th. Finally, Royal Bank of Canada restated a “hold” rating and set a $31.00 price objective on shares of KB Home in a research report on Wednesday, November 15th. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. KB Home has a consensus rating of “Hold” and a consensus target price of $23.47.
Shares of KB Home (KBH) traded up $0.43 during mid-day trading on Friday, reaching $32.25. The company’s stock had a trading volume of 1,303,600 shares, compared to its average volume of 2,482,719. KB Home has a fifty-two week low of $15.51 and a fifty-two week high of $32.35. The stock has a market capitalization of $2,760.00, a P/E ratio of 23.20, a PEG ratio of 0.75 and a beta of 1.69.
In other news, EVP Brian J. Woram sold 49,529 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $27.11, for a total value of $1,342,731.19. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Albert Z. Praw sold 150,000 shares of the stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $25.85, for a total value of $3,877,500.00. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Atlantic Trust Group LLC purchased a new stake in shares of KB Home in the third quarter worth approximately $1,250,000. GSA Capital Partners LLP purchased a new position in KB Home during the 3rd quarter worth $247,000. Piedmont Investment Advisors LLC purchased a new position in KB Home during the 3rd quarter worth $1,041,000. California Public Employees Retirement System increased its holdings in KB Home by 12.1% during the 3rd quarter. California Public Employees Retirement System now owns 280,808 shares of the construction company’s stock worth $6,773,000 after purchasing an additional 30,408 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in KB Home during the 3rd quarter worth $706,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.
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About KB Home
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.
