Bank of America Cuts KB Home (NYSE:KBH) Price Target to $76.00

KB Home (NYSE:KBH) had its price objective lowered by Bank of America from $80.00 to $76.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

Other equities analysts have also issued reports about the company. Evercore ISI lifted their price objective on KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wells Fargo & Company lowered their target price on KB Home from $74.00 to $65.00 and set an “underweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. cut their price target on KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a report on Friday, December 13th. UBS Group reduced their price objective on KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Wedbush boosted their target price on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $75.88.

KB Home Stock Down 0.3 %

Shares of KB Home stock opened at $68.33 on Tuesday. KB Home has a 12-month low of $58.05 and a 12-month high of $89.70. The stock has a 50 day moving average price of $73.08 and a two-hundred day moving average price of $77.86. The stock has a market capitalization of $5.01 billion, a P/E ratio of 8.76, a PEG ratio of 0.54 and a beta of 1.86.

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

Hedge Funds Weigh In On KB Home

A number of hedge funds and other institutional investors have recently made changes to their positions in KBH. FMR LLC raised its position in KB Home by 47.9% in the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after purchasing an additional 1,752,498 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of KB Home in the 3rd quarter worth approximately $89,899,000. Hennessy Advisors Inc. acquired a new position in shares of KB Home in the 4th quarter worth approximately $44,118,000. Charles Schwab Investment Management Inc. lifted its position in shares of KB Home by 22.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock worth $77,655,000 after buying an additional 164,010 shares during the period. Finally, Empowered Funds LLC boosted its stake in KB Home by 201.8% in the 3rd quarter. Empowered Funds LLC now owns 216,645 shares of the construction company’s stock valued at $18,564,000 after buying an additional 144,854 shares in the last quarter. 96.09% of the stock is owned by institutional investors.

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.