JPMorgan Chase & Co. Has Lowered Expectations for KB Home (NYSE:KBH) Stock Price

KB Home (NYSE:KBH) had its target price dropped by research analysts at JPMorgan Chase & Co. from $92.50 to $82.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 14.81% from the stock’s current price.

A number of other equities analysts have also recently issued reports on KBH. Wells Fargo & Company cut shares of KB Home from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $80.00 to $83.00 in a research report on Monday, October 7th. Barclays lowered KB Home from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $99.00 to $85.00 in a research note on Wednesday. Bank of America raised their price target on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective on the stock. in a research note on Thursday, September 5th. Finally, Wedbush upped their target price on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $79.92.

KB Home Price Performance

NYSE KBH opened at $71.42 on Friday. The business has a 50 day moving average price of $79.83 and a 200 day moving average price of $78.38. The company has a market capitalization of $5.24 billion, a P/E ratio of 9.16, a PEG ratio of 0.59 and a beta of 1.81. KB Home has a 1-year low of $58.05 and a 1-year high of $89.70.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the business earned $1.80 EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, research analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction on Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the transaction, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.44% of the company’s stock.

Institutional Investors Weigh In On KB Home

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in shares of KB Home during the 3rd quarter worth about $32,000. Riggs Asset Managment Co. Inc. acquired a new position in KB Home during the third quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB purchased a new stake in KB Home during the third quarter worth approximately $59,000. Banque Cantonale Vaudoise acquired a new stake in shares of KB Home in the third quarter worth $61,000. Finally, Quest Partners LLC raised its stake in shares of KB Home by 101,600.0% in the 3rd quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock valued at $87,000 after acquiring an additional 1,016 shares during the period. 96.09% of the stock is currently owned by institutional investors and hedge funds.

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.