KB Home (NYSE:KBH) Given New $62.00 Price Target at Bank of America

KB Home (NYSE:KBH) had its target price lowered by stock analysts at Bank of America from $67.00 to $62.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Bank of America‘s price target points to a potential upside of 0.35% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Barclays decreased their price target on KB Home from $85.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Seaport Res Ptn upgraded shares of KB Home from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. The Goldman Sachs Group cut their price objective on KB Home from $81.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. cut their price target on KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company reduced their price objective on shares of KB Home from $65.00 to $63.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.46.

KB Home Stock Performance

Shares of NYSE:KBH opened at $61.78 on Tuesday. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $64.17 and a 200-day moving average price of $72.95. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 7.29, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. KB Home has a 12 month low of $58.80 and a 12 month high of $89.70.

KB Home (NYSE:KBH) last released its quarterly earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.07). KB Home had a net margin of 9.45% and a return on equity of 16.46%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the firm earned $1.76 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that KB Home will post 8.42 EPS for the current year.

Insiders Place Their Bets

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,370,708.21. The trade was a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KB Home

A number of hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its stake in KB Home by 65.6% in the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock worth $36,000 after acquiring an additional 214 shares during the last quarter. Principal Securities Inc. grew its position in shares of KB Home by 43.6% during the fourth quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock worth $39,000 after acquiring an additional 179 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of KB Home in the third quarter valued at about $59,000. Versant Capital Management Inc raised its stake in KB Home by 275.7% during the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after acquiring an additional 557 shares during the last quarter. Finally, Amundi lifted its holdings in shares of KB Home by 29.6% during the fourth quarter. Amundi now owns 880 shares of the construction company’s stock worth $58,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

About KB Home

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.