Keefe, Bruyette & Woods Cuts KB Home (NYSE:KBH) Price Target to $54.00

KB Home (NYSE:KBH) had its price target reduced by Keefe, Bruyette & Woods from $65.00 to $54.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a market perform rating on the construction company’s stock.

KBH has been the topic of several other reports. Morgan Stanley initiated coverage on KB Home in a research note on Thursday, October 1st. They issued an “underweight” rating and a $39.00 target price on the stock. Zacks Research cut KB Home from a “hold” rating to a “strong sell” rating in a report on Thursday, September 17th. Citigroup reiterated an “outperform” rating on shares of KB Home in a research report on Wednesday, September 23rd. Truist Financial reduced their target price on KB Home from $55.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday, September 23rd. Finally, Barclays decreased their target price on KB Home from $57.00 to $49.00 and set an “overweight” rating for the company in a report on Wednesday, September 23rd. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.08.

KB Home Stock Down 2.9%

Shares of KB Home stock opened at $44.07 on Monday. The firm has a market cap of $2.70 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 2.36 and a beta of 1.34. KB Home has a 12-month low of $43.37 and a 12-month high of $67.57. The company’s fifty day simple moving average is $51.98 and its two-hundred day simple moving average is $52.78.

KB Home (NYSE:KBH) last released its quarterly earnings data on Tuesday, September 22nd. The construction company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.30 billion. KB Home had a net margin of 4.39% and a return on equity of 6.56%. The company’s revenue for the quarter was down 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.61 earnings per share. As a group, sell-side analysts expect that KB Home will post 3.25 earnings per share for the current fiscal year.

Insider Transactions at KB Home

In other KB Home news, EVP Albert Praw sold 22,015 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $58.70, for a total value of $1,292,280.50. Following the completion of the sale, the executive vice president directly owned 104,062 shares in the company, valued at $6,108,439.40. This trade represents a 17.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Arthur Collins sold 4,000 shares of KB Home stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $56.96, for a total value of $227,840.00. Following the sale, the director directly owned 9,157 shares in the company, valued at approximately $521,582.72. The trade was a 30.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Eastern Bank purchased a new stake in KB Home in the second quarter worth $26,000. Bessemer Group Inc. raised its holdings in KB Home by 80.0% in 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. Ameritas Advisory Services LLC purchased a new position in KB Home during the second quarter valued at $46,000. Polaris Financial Partners purchased a new position in KB Home during the third quarter valued at $43,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of KB Home during the 2nd quarter valued at $73,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

About KB Home

KB Home is a national homebuilder that designs, constructs and sells single-family homes and townhomes. The company offers homes in a range of floor plans, sizes and price points, with options that allow buyers to personalize features and finishes. Its communities typically include amenities such as parks, open spaces and other neighborhood improvements.

Founded in 1957, KB Home is headquartered in Los Angeles, California. The company serves residential markets across the United States, including Arizona, California, Colorado, Florida, Idaho, Nevada, North Carolina, South Carolina, Texas and Washington.