RBC Capital Markets Reiterates “Sector Perform” Rating for KB Home (KBH)
KB Home (NYSE:KBH)‘s stock had its “sector perform” rating reiterated by analysts at RBC Capital Markets in a research note issued on Thursday. They currently have a $17.00 price target on the stock, up from their previous price target of $16.00. RBC Capital Markets’ price target points to a potential upside of 8.63% from the company’s previous close.
Several other equities analysts also recently commented on the stock. Bank of America Corp. reissued a “sell” rating and set a $12.50 target price on shares of KB Home in a research report on Wednesday. Royal Bank Of Canada increased their target price on shares of KB Home from $16.00 to $17.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Wedbush began coverage on shares of KB Home in a research report on Monday. They set an “outperform” rating and a $22.00 target price on the stock. Buckingham Research raised shares of KB Home from a “neutral” rating to a “buy” rating in a research report on Monday. Finally, MKM Partners set a $13.00 target price on shares of KB Home and gave the stock a “hold” rating in a research report on Wednesday, September 14th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.38.
Shares of KB Home (NYSE:KBH) traded up 2.76% during mid-day trading on Thursday, reaching $15.65. The company’s stock had a trading volume of 3,577,555 shares. KB Home has a 12 month low of $9.04 and a 12 month high of $16.76. The stock has a market capitalization of $1.32 billion, a P/E ratio of 16.02 and a beta of 1.96. The company has a 50 day moving average price of $15.46 and a 200 day moving average price of $14.62.
KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, September 20th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.03. KB Home had a return on equity of 6.80% and a net margin of 3.31%. The business earned $913.30 million during the quarter. During the same quarter in the prior year, the business posted $0.23 earnings per share. KB Home’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts anticipate that KB Home will post $1.32 earnings per share for the current fiscal year.
In other news, insider Jeffrey T. Mezger sold 500,000 shares of KB Home stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $16.47, for a total value of $8,235,000.00. Following the completion of the transaction, the insider now owns 606,716 shares in the company, valued at $9,992,612.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey T. Mezger sold 110,000 shares of KB Home stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $16.39, for a total transaction of $1,802,900.00. Following the completion of the transaction, the chief executive officer now owns 606,716 shares of the company’s stock, valued at approximately $9,944,075.24. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mason Street Advisors LLC purchased a new position in KB Home during the second quarter worth about $580,000. Royal Bank of Canada boosted its position in KB Home by 46.7% in the second quarter. Royal Bank of Canada now owns 151,340 shares of the company’s stock worth $2,302,000 after buying an additional 48,163 shares during the period. Sterling Capital Management LLC purchased a new position in KB Home during the second quarter worth about $743,000. Schwab Charles Investment Management Inc. boosted its position in KB Home by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 303,504 shares of the company’s stock worth $4,617,000 after buying an additional 1,771 shares during the period. Finally, Strategic Wealth Advisors Group LLC boosted its position in KB Home by 16.5% in the second quarter. Strategic Wealth Advisors Group LLC now owns 17,483 shares of the company’s stock worth $266,000 after buying an additional 2,476 shares during the period. Institutional investors own 92.39% of the company’s stock.
KB Home Company Profile
KB Home is a homebuilding company in the United States. The Company constructs and sells a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. Its segments include the West Coast, Southwest, Central and Southeast homebuilding segments, and financial services segment.
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