KB Home (NYSE:KBH) Given New $65.00 Price Target at Wells Fargo & Company

KB Home (NYSE:KBH) had its price target lowered by stock analysts at Wells Fargo & Company from $70.00 to $65.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the construction company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 3.20% from the company’s current price.

Several other brokerages have also recently issued reports on KBH. Barclays cut their price objective on KB Home from $85.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI raised 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, January 14th. JPMorgan Chase & Co. lowered their target price on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Royal Bank of Canada upgraded shares of KB Home from an “underperform” rating to a “sector perform” rating and reduced their price target for the stock from $70.00 to $67.00 in a research report on Friday, January 10th. Finally, UBS Group lowered their price objective on shares of KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, KB Home presently has an average rating of “Hold” and a consensus price target of $76.21.

KB Home Stock Performance

Shares of KBH opened at $67.15 on Tuesday. The company has a market capitalization of $4.92 billion, a P/E ratio of 7.93, a P/E/G ratio of 0.93 and a beta of 1.86. The stock has a 50-day moving average price of $71.27 and a 200 day moving average price of $77.98. KB Home has a one year low of $58.15 and a one year high of $89.70.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Financial Management Professionals Inc. acquired a new stake in KB Home in the third quarter worth about $32,000. Riggs Asset Managment Co. Inc. acquired a new stake in shares of KB Home in the 3rd quarter worth approximately $43,000. Wilmington Savings Fund Society FSB bought a new position in shares of KB Home in the third quarter valued at approximately $59,000. Banque Cantonale Vaudoise acquired a new position in shares of KB Home during the third quarter valued at approximately $61,000. Finally, Versant Capital Management Inc raised its holdings in KB Home by 275.7% during the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after purchasing an additional 557 shares in the last quarter. 96.09% of the stock is 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.