Hennessy Advisors Inc. Takes Position in KB Home (NYSE:KBH)

Hennessy Advisors Inc. purchased a new position in shares of KB Home (NYSE:KBH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 671,300 shares of the construction company’s stock, valued at approximately $44,118,000. KB Home comprises 1.3% of Hennessy Advisors Inc.’s holdings, making the stock its 25th biggest holding. Hennessy Advisors Inc. owned about 0.92% of KB Home as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mirador Capital Partners LP purchased a new stake in shares of KB Home in the fourth quarter valued at about $239,000. Burney Co. purchased a new position in shares of KB Home during the fourth quarter worth about $230,000. Assenagon Asset Management S.A. increased its position in KB Home by 7.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 27,843 shares of the construction company’s stock valued at $1,830,000 after acquiring an additional 1,890 shares during the period. Bank of New Hampshire raised its stake in KB Home by 3.1% during the 4th quarter. Bank of New Hampshire now owns 33,343 shares of the construction company’s stock valued at $2,191,000 after acquiring an additional 989 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in KB Home by 4.2% during the 4th quarter. Nordea Investment Management AB now owns 152,056 shares of the construction company’s stock worth $10,059,000 after acquiring an additional 6,195 shares during the period. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Stock Performance

Shares of NYSE:KBH opened at $68.33 on Friday. The business’s fifty day moving average price is $73.08 and its two-hundred day moving average price is $77.86. The stock has a market cap of $5.01 billion, a PE ratio of 8.76, a price-to-earnings-growth ratio of 0.54 and a beta of 1.86. KB Home has a one year low of $58.05 and a one year high of $89.70.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Monday, January 13th. The construction company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.99 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.85 EPS. As a group, equities research analysts predict that KB Home will post 8.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

KBH has been the subject of several analyst reports. Wedbush upped their price target on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. UBS Group reduced their target price on shares of KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Barclays dropped their price target on shares of KB Home from $85.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods reduced their price objective on shares of KB Home from $85.00 to $76.00 and set a “market perform” rating for the company in a research report on Friday. Finally, Bank of America cut their target price on KB Home from $80.00 to $76.00 and set a “neutral” rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, KB Home currently has an average rating of “Hold” and an average target price of $75.79.

KB Home Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.