Bank of America Lowers KB Home (NYSE:KBH) Price Target to $71.00

KB Home (NYSE:KBH) had its target price lowered by equities researchers at Bank of America from $76.00 to $71.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Bank of America‘s target price would indicate a potential upside of 3.86% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on KB Home from $85.00 to $76.00 and set a “market perform” rating for the company in a report on Friday, January 17th. Barclays cut their target price on shares of KB Home from $85.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price target on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. UBS Group cut their price objective on shares of KB Home from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Evercore ISI upped their target price on KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $76.21.

KB Home Trading Down 2.4 %

Shares of KBH opened at $68.36 on Monday. The firm has a fifty day moving average price of $71.45 and a 200-day moving average price of $78.04. The firm has a market capitalization of $5.01 billion, a P/E ratio of 8.07, a P/E/G ratio of 0.93 and a beta of 1.86. KB Home has a 12-month low of $58.15 and a 12-month high of $89.70.

KB Home (NYSE:KBH) last issued its earnings results on Monday, January 13th. The construction company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the firm earned $1.85 EPS. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. Analysts predict that KB Home will post 8.5 earnings per share for the current year.

Institutional Investors Weigh In On KB Home

A number of large investors have recently modified their holdings of the business. Thrivent Financial for Lutherans increased its position in shares of KB Home by 0.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 18,578 shares of the construction company’s stock valued at $1,304,000 after acquiring an additional 162 shares during the period. Creative Planning increased its holdings in shares of KB Home by 20.9% in the second quarter. Creative Planning now owns 23,662 shares of the construction company’s stock valued at $1,661,000 after purchasing an additional 4,096 shares during the period. Invst LLC raised its stake in shares of KB Home by 6.4% in the second quarter. Invst LLC now owns 12,547 shares of the construction company’s stock worth $846,000 after purchasing an additional 751 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of KB Home by 3.1% during the second quarter. Cetera Investment Advisers now owns 23,097 shares of the construction company’s stock worth $1,621,000 after purchasing an additional 698 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in KB Home in the second quarter valued at approximately $691,000. 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.