KB Home (NYSE:KBH) Price Target Cut to $39.00

KB Home (NYSE:KBHGet Rating) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $49.00 to $39.00 in a research note issued on Wednesday, The Fly reports. The brokerage currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 17.47% from the stock’s current price.

Several other analysts have also issued reports on KBH. Zacks Investment Research lowered KB Home from a “buy” rating to a “hold” rating and set a $39.00 price objective for the company. in a report on Wednesday, March 16th. Royal Bank of Canada cut their price objective on KB Home from $55.00 to $51.00 and set an “outperform” rating for the company in a report on Thursday, March 24th. Barclays lowered their target price on shares of KB Home from $50.00 to $47.00 in a research report on Thursday, March 31st. Seaport Res Ptn raised shares of KB Home from a “neutral” rating to a “buy” rating in a research report on Friday, January 21st. Finally, KeyCorp lowered their target price on shares of KB Home from $38.00 to $30.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, KB Home currently has a consensus rating of “Buy” and a consensus target price of $49.85.

Shares of NYSE:KBH opened at $33.20 on Wednesday. KB Home has a 1 year low of $30.13 and a 1 year high of $52.48. The business has a fifty day simple moving average of $36.39 and a 200 day simple moving average of $40.10. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 5.12, a P/E/G ratio of 0.24 and a beta of 1.71.

KB Home (NYSE:KBHGet Rating) last announced its quarterly earnings data on Wednesday, March 23rd. The construction company reported $1.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.56 by ($0.09). KB Home had a return on equity of 20.40% and a net margin of 10.06%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the business posted $1.02 earnings per share. KB Home’s revenue was up 22.6% on a year-over-year basis. On average, sell-side analysts anticipate that KB Home will post 10.18 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of KBH. KRS Capital Management LLC acquired a new stake in shares of KB Home in the fourth quarter valued at about $29,000. Massmutual Trust Co. FSB ADV grew its position in KB Home by 1,375.4% during the first quarter. Massmutual Trust Co. FSB ADV now owns 900 shares of the construction company’s stock worth $29,000 after buying an additional 839 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in KB Home by 50.1% during the third quarter. O Shaughnessy Asset Management LLC now owns 902 shares of the construction company’s stock worth $35,000 after buying an additional 301 shares in the last quarter. Allegheny Financial Group LTD acquired a new stake in KB Home during the fourth quarter worth about $48,000. Finally, Acadian Asset Management LLC grew its position in KB Home by 36.3% during the fourth quarter. Acadian Asset Management LLC now owns 1,601 shares of the construction company’s stock worth $71,000 after buying an additional 426 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

About KB Home (Get Rating)

KB Home engages in selling and building a variety of new homes. It builds various types of homes, including attached and detached single-family homes, townhomes, and condominiums. The firm operates through the following segments: West Coast, Southwest, Central, and Southeast. It offer homes in development communities, at urban in-fill locations and as part of mixed-use projects.

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