Keefe, Bruyette & Woods Issues Pessimistic Forecast for KB Home (NYSE:KBH) Stock Price

KB Home (NYSE:KBH) had its target price lowered by Keefe, Bruyette & Woods from $67.00 to $62.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 7.27% from the company’s previous close.

Several other research firms have also recently weighed in on KBH. JPMorgan Chase & Co. dropped their price objective on shares of KB Home from $63.00 to $53.00 and set a “neutral” rating for the company in a report on Monday, September 29th. Zacks Research upgraded KB Home from a “strong sell” rating to a “hold” rating in a research report on Friday, September 5th. Oppenheimer assumed coverage on KB Home in a research note on Wednesday, September 3rd. They set a “market perform” rating for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of KB Home in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada decreased their price objective on KB Home from $59.00 to $54.00 and set a “sector perform” rating on the stock in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $64.09.

KB Home Trading Up 1.7%

Shares of KBH opened at $57.80 on Tuesday. KB Home has a 12-month low of $48.90 and a 12-month high of $72.64. The company has a market cap of $3.74 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 2.31 and a beta of 1.40. The stock has a 50-day moving average price of $61.93 and a 200-day moving average price of $60.16.

KB Home (NYSE:KBH) last announced its earnings results on Thursday, December 18th. The construction company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.13. KB Home had a net margin of 6.88% and a return on equity of 11.40%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the firm posted $2.52 earnings per share. KB Home’s quarterly revenue was down 15.5% on a year-over-year basis. As a group, analysts predict that KB Home will post 8.42 earnings per share for the current year.

Insider Transactions at KB Home

In other KB Home news, EVP Albert Z. Praw sold 20,284 shares of KB Home stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $60.08, for a total value of $1,218,662.72. Following the transaction, the executive vice president directly owned 104,062 shares of the company’s stock, valued at $6,252,044.96. The trade was a 16.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fulcrum Asset Management LLP purchased a new position in shares of KB Home in the third quarter worth $36,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of KB Home in the second quarter valued at about $44,000. Jones Financial Companies Lllp increased its position in shares of KB Home by 44.4% in the third quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company’s stock valued at $49,000 after acquiring an additional 240 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of KB Home by 2,848.4% during the third quarter. SBI Securities Co. Ltd. now owns 914 shares of the construction company’s stock valued at $58,000 after acquiring an additional 883 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of KB Home during the second quarter worth about $59,000. Institutional investors own 96.09% of the company’s stock.

About KB Home

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.