KB Home (NYSE:KBH) Raised to “Hold” at Wall Street Zen

KB Home (NYSE:KBH) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

KBH has been the subject of several other research reports. Barclays upped their price target on shares of KB Home from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial boosted their price target on shares of KB Home from $50.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on KB Home from $50.00 to $52.00 and gave the stock an “underweight” rating in a research report on Wednesday. Seaport Research Partners reaffirmed a “sell” rating and set a $43.00 target price (down from $65.00) on shares of KB Home in a research note on Tuesday, April 7th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $77.00 price objective on shares of KB Home in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.17.

KB Home Trading Up 2.4%

NYSE:KBH opened at $62.15 on Friday. The firm has a fifty day simple moving average of $51.81 and a 200-day simple moving average of $56.03. KB Home has a 12 month low of $44.03 and a 12 month high of $68.71. The company has a market capitalization of $3.89 billion, a P/E ratio of 15.77, a PEG ratio of 10.56 and a beta of 1.37.

KB Home (NYSE:KBH) last released its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.01). The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. The firm’s revenue was down 27.3% on a year-over-year basis. During the same period last year, the company earned $1.50 earnings per share. Equities analysts forecast that KB Home will post 3.14 EPS for the current year.

Hedge Funds Weigh In On KB Home

Several institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. raised its holdings in KB Home by 80.0% during the first quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock worth $26,000 after purchasing an additional 220 shares in the last quarter. First Horizon Corp raised its holdings in shares of KB Home by 178.9% in the fourth quarter. First Horizon Corp now owns 502 shares of the construction company’s stock worth $28,000 after acquiring an additional 322 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in KB Home by 73.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock valued at $33,000 after purchasing an additional 250 shares in the last quarter. Fulcrum Asset Management LLP purchased a new stake in KB Home in the 3rd quarter worth approximately $36,000. Finally, Aventura Private Wealth LLC acquired a new stake in shares of KB Home during the fourth quarter worth $46,000. 96.09% of the stock is owned by institutional investors and hedge funds.

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.