KB Home (NYSE:KBH) Price Target Lowered to $50.00 at JPMorgan Chase & Co.

KB Home (NYSE:KBH) had its target price reduced by JPMorgan Chase & Co. from $71.00 to $50.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 12.80% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada decreased their target price on KB Home from $59.00 to $54.00 and set a “sector perform” rating on the stock in a research report on Friday, December 19th. Evercore ISI set a $65.00 price objective on KB Home and gave the company an “in-line” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods dropped their target price on shares of KB Home from $67.00 to $62.00 and set a “market perform” rating for the company in a report on Tuesday, December 23rd. Barclays reduced their target price on shares of KB Home from $71.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, December 22nd. Finally, Bank of America lowered their price target on shares of KB Home from $62.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $63.82.

KB Home Stock Down 0.1%

KBH opened at $57.34 on Monday. The firm’s fifty day simple moving average is $61.76 and its two-hundred day simple moving average is $60.26. KB Home has a 52-week low of $48.90 and a 52-week high of $72.64. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 2.53 and a beta of 1.40.

KB Home (NYSE:KBH) last released its quarterly earnings results on Thursday, December 18th. The construction company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.13. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. KB Home had a net margin of 6.88% and a return on equity of 11.40%. The company’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.52 EPS. On average, research analysts forecast that KB Home will post 8.42 EPS for the current year.

Insider Activity at KB Home

In related news, EVP Albert Z. Praw sold 20,284 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $60.08, for a total transaction of $1,218,662.72. Following the completion of the sale, the executive vice president directly owned 104,062 shares of the company’s stock, valued at approximately $6,252,044.96. This trade represents a 16.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of KBH. Fulcrum Asset Management LLP acquired a new stake in shares of KB Home in the third quarter valued at $36,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in KB Home during the 2nd quarter worth about $44,000. Jones Financial Companies Lllp raised its position in KB Home by 44.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company’s stock valued at $49,000 after purchasing an additional 240 shares in the last quarter. SBI Securities Co. Ltd. raised its position in KB Home by 2,848.4% in the 3rd quarter. SBI Securities Co. Ltd. now owns 914 shares of the construction company’s stock valued at $58,000 after purchasing an additional 883 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of KB Home in the 2nd quarter valued at about $59,000. Hedge funds and other 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.