KB Home (NYSE:KBH) Raised to “Strong-Buy” at Seaport Res Ptn

KB Home (NYSE:KBH) was upgraded by investment analysts at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other analysts also recently weighed in on KBH. Keefe, Bruyette & Woods decreased their price target on shares of KB Home from $85.00 to $76.00 and set a “market perform” rating for the company in a research report on Friday, January 17th. UBS Group decreased their price target 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. Raymond James reaffirmed an “outperform” rating and issued a $80.00 price objective (down previously from $93.00) on shares of KB Home in a report on Tuesday, January 21st. Bank of America decreased their price objective on shares of KB Home from $76.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, Evercore ISI lifted their price objective on shares of KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $76.21.

KB Home Stock Up 3.9 %

KBH stock opened at $64.39 on Thursday. KB Home has a twelve month low of $59.00 and a twelve month high of $89.70. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $4.65 billion, a P/E ratio of 7.60, a PEG ratio of 0.90 and a beta of 1.86. The firm has a 50 day simple moving average of $65.02 and a 200-day simple moving average of $74.83.

KB Home (NYSE:KBH) last released its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share 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 during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the company earned $1.85 earnings per share. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts predict that KB Home will post 8.42 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. The trade was a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.44% of the company’s stock.

Hedge Funds Weigh In On KB Home

Several hedge funds and other institutional investors have recently modified their holdings of KBH. FMR LLC boosted its holdings in shares of KB Home by 47.9% during the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock valued at $463,690,000 after acquiring an additional 1,752,498 shares during the period. Holocene Advisors LP bought a new stake in shares of KB Home during the third quarter valued at about $89,899,000. Norges Bank bought a new stake in shares of KB Home during the fourth quarter valued at about $49,638,000. Hennessy Advisors Inc. bought a new stake in shares of KB Home during the fourth quarter valued at about $44,118,000. Finally, Two Sigma Advisers LP raised its stake in shares of KB Home by 4,408.6% during the fourth quarter. Two Sigma Advisers LP now owns 523,000 shares of the construction company’s stock valued at $34,372,000 after purchasing an additional 511,400 shares in the last quarter. Institutional investors and hedge funds 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.