KB Home (NYSE:KBH) Receives Average Rating of “Hold” from Analysts

KB Home (NYSE:KBH) has been assigned an average rating of “Hold” from the fifteen research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $63.2727.

Several equities analysts recently commented on KBH shares. Bank of America reduced their price target on KB Home from $62.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. Wells Fargo & Company dropped their price objective on shares of KB Home from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Friday, December 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of KB Home in a research report on Wednesday, October 8th. Zacks Research downgraded shares of KB Home from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 23rd. Finally, Evercore ISI set a $65.00 price target on shares of KB Home and gave the stock an “in-line” rating in a research note on Tuesday, October 7th.

KB Home Trading Up 7.0%

Shares of KB Home stock opened at $61.62 on Monday. KB Home has a twelve month low of $48.90 and a twelve month high of $72.64. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 3.56 and a beta of 1.43. The company has a fifty day moving average price of $60.66 and a 200 day moving average price of $60.63.

KB Home (NYSE:KBH) last released its quarterly earnings data on Thursday, December 18th. The construction company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.79 by $0.13. KB Home had a return on equity of 11.40% and a net margin of 6.88%.The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the company posted $2.52 earnings per share. The firm’s revenue was down 15.5% compared to the same quarter last year. Analysts forecast that KB Home will post 8.42 earnings per share for the current year.

Insider Activity

In other news, EVP Albert Z. Praw sold 20,284 shares of KB Home stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $60.08, for a total transaction of $1,218,662.72. Following the sale, the executive vice president directly owned 104,062 shares of the company’s stock, valued at approximately $6,252,044.96. The trade was a 16.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.89% of the company’s stock.

Institutional Investors Weigh In On KB Home

A number of hedge funds have recently bought and sold shares of the business. Freestone Grove Partners LP acquired a new position in shares of KB Home in the 3rd quarter valued at approximately $111,050,000. Norges Bank bought a new stake in shares of KB Home in the second quarter worth $55,329,000. Deprince Race & Zollo Inc. acquired a new stake in KB Home in the third quarter valued at $59,301,000. Bank of America Corp DE raised its holdings in KB Home by 36.4% in the third quarter. Bank of America Corp DE now owns 1,033,287 shares of the construction company’s stock valued at $65,758,000 after acquiring an additional 275,965 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in KB Home by 408.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 300,739 shares of the construction company’s stock valued at $15,930,000 after acquiring an additional 241,608 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.