Wedbush Raises KB Home (KBH) Price Target to $30.00
KB Home (NYSE:KBH) had its price objective upped by Wedbush from $28.00 to $30.00 in a research note published on Friday, MarketBeat reports. They currently have a neutral rating on the construction company’s stock.
Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of KB Home from a hold rating to a buy rating and set a $23.00 target price for the company in a research report on Friday, September 22nd. Deutsche Bank reissued a hold rating and set a $24.00 target price (up previously from $23.00) on shares of KB Home in a research report on Monday, October 2nd. Keefe, Bruyette & Woods reissued a hold rating and set a $24.00 target price on shares of KB Home in a research report on Friday, September 29th. KeyCorp reissued a hold rating on shares of KB Home in a research report on Tuesday, September 26th. Finally, Royal Bank of Canada reissued a hold rating and set a $31.00 target price on shares of KB Home in a research report on Wednesday, November 15th. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $23.47.
KB Home (NYSE:KBH) opened at $31.95 on Friday. The firm has a market cap of $2,763.68, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 0.75 and a beta of 1.69. KB Home has a 52-week low of $15.51 and a 52-week high of $32.48.
KB Home (NYSE:KBH) last released its earnings results on Thursday, September 28th. The construction company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. KB Home had a net margin of 3.22% and a return on equity of 7.57%. The business’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. equities research analysts anticipate that KB Home will post 1.77 earnings per share for the current year.
In related news, EVP Brian J. Woram sold 49,529 shares of the company’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $27.11, for a total value of $1,342,731.19. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Albert Z. Praw sold 150,000 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $25.85, for a total transaction of $3,877,500.00. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Investment Management Company LLC increased its stake in KB Home by 0.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 14,426 shares of the construction company’s stock valued at $219,000 after acquiring an additional 94 shares during the period. Amalgamated Bank increased its stake in KB Home by 2.5% in the second quarter. Amalgamated Bank now owns 11,945 shares of the construction company’s stock valued at $286,000 after acquiring an additional 289 shares during the period. Comerica Bank increased its stake in KB Home by 0.6% in the second quarter. Comerica Bank now owns 64,359 shares of the construction company’s stock valued at $1,506,000 after acquiring an additional 396 shares during the period. Arizona State Retirement System increased its stake in KB Home by 1.2% in the second quarter. Arizona State Retirement System now owns 35,000 shares of the construction company’s stock valued at $839,000 after acquiring an additional 400 shares during the period. Finally, Victory Capital Management Inc. increased its stake in KB Home by 17.6% in the second quarter. Victory Capital Management Inc. now owns 8,288 shares of the construction company’s stock valued at $199,000 after acquiring an additional 1,241 shares during the period. 96.73% of the stock is currently owned by institutional investors and hedge funds.
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About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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