Wealthcare Advisory Partners LLC lowered its stake in KB Home (NYSE:KBH – Free Report) by 2.1% in the fourth quarter, Holdings Channel reports. The fund owned 10,664 shares of the construction company’s stock after selling 229 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in KB Home were worth $701,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Hennessy Advisors Inc. acquired a new stake in KB Home in the fourth quarter valued at approximately $44,118,000. Mirador Capital Partners LP acquired a new stake in shares of KB Home during the 4th quarter valued at $239,000. Burney Co. bought a new stake in KB Home during the 4th quarter worth $230,000. Assenagon Asset Management S.A. increased its holdings in KB Home by 7.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 27,843 shares of the construction company’s stock worth $1,830,000 after purchasing an additional 1,890 shares in the last quarter. Finally, Bank of New Hampshire raised its position in KB Home by 3.1% in the fourth quarter. Bank of New Hampshire now owns 33,343 shares of the construction company’s stock valued at $2,191,000 after purchasing an additional 989 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Seaport Res Ptn raised shares of KB Home from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods cut their price target on shares of KB Home from $85.00 to $76.00 and set a “market perform” rating on the stock in a report on Friday. Royal Bank of Canada upgraded KB Home from an “underperform” rating to a “sector perform” rating and decreased their price objective for the company from $70.00 to $67.00 in a report on Friday, January 10th. Finally, Wedbush lifted their target price on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $76.32.
KB Home Trading Down 0.4 %
KBH stock opened at $67.99 on Monday. KB Home has a 1-year low of $58.05 and a 1-year high of $89.70. The stock has a 50-day moving average price of $72.80 and a 200-day moving average price of $78.02. The firm has a market cap of $4.99 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 0.54 and a beta of 1.86.
KB Home (NYSE:KBH – Get Free Report) last issued its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.08. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.99 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.85 earnings per share. On average, analysts forecast that KB Home will post 8.42 earnings per share for the current year.
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.
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