KB Home (NYSE:KBH) Shares Gap Down After Analyst Downgrade

KB Home (NYSE:KBH – Get Rating) gapped down before the market opened on Thursday after UBS Group lowered their price target on the stock from $48.00 to $45.00. The stock had previously closed at $35.94, but opened at $34.80. UBS Group currently has a buy rating on the stock. KB Home shares last traded at $34.29, with a volume of 32,245 shares.

Several other equities research analysts have also issued reports on the stock. Evercore ISI reduced their price objective on shares of KB Home from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, September 22nd. JPMorgan Chase & Co. boosted their target price on shares of KB Home from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 22nd. Raymond James lowered shares of KB Home from a “strong-buy” rating to a “market perform” rating in a research report on Friday, October 21st. Barclays upped their price objective on shares of KB Home from $41.00 to $42.00 in a research report on Wednesday, December 14th. Finally, StockNews.com assumed coverage on shares of KB Home in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, KB Home presently has a consensus rating of “Moderate Buy” and an average price target of $38.77.

Insider Activity

In other news, EVP Albert Z. Praw sold 29,777 shares of the firm’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $28.77, for a total transaction of $856,684.29. Following the completion of the sale, the executive vice president now owns 143,363 shares in the company, valued at approximately $4,124,553.51. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.90% of the company’s stock.

Institutional Trading of KB Home

Hedge funds have recently modified their holdings of the stock. Aptus Capital Advisors LLC lifted its stake in shares of KB Home by 88.6% during the 2nd quarter. Aptus Capital Advisors LLC now owns 117,336 shares of the construction company’s stock worth $3,339,000 after buying an additional 55,117 shares during the last quarter. Cobalt Capital Management Inc. raised its stake in KB Home by 7.4% in the 2nd quarter. Cobalt Capital Management Inc. now owns 300,000 shares of the construction company’s stock worth $8,538,000 after purchasing an additional 20,800 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in KB Home in the 2nd quarter worth about $228,000. Xponance Inc. raised its stake in KB Home by 7.0% in the 2nd quarter. Xponance Inc. now owns 13,109 shares of the construction company’s stock worth $373,000 after purchasing an additional 855 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in KB Home in the 2nd quarter worth about $1,197,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

KB Home Trading Down 2.9 %

The firm’s 50 day simple moving average is $31.52 and its two-hundred day simple moving average is $30.16. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 4.08, a PEG ratio of 0.78 and a beta of 1.53.

KB Home Company Profile

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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.