KB Home (NYSE:KBH) Price Target Increased to $63.00 by Analysts at Raymond James

KB Home (NYSE:KBH) had its price objective hoisted by Raymond James from $55.00 to $63.00 in a report issued on Friday morning, The Fly reports. Raymond James currently has a strong-buy rating on the construction company’s stock.

A number of other research analysts also recently commented on the company. Zelman & Associates upgraded KB Home from a hold rating to a buy rating in a research report on Monday, December 13th. Barclays lifted their price objective on shares of KB Home from $56.00 to $57.00 and gave the stock an overweight rating in a research note on Wednesday, December 15th. JPMorgan Chase & Co. decreased their target price on shares of KB Home from $59.00 to $53.00 and set a neutral rating on the stock in a research report on Thursday, October 14th. Wedbush upped their target price on shares of KB Home from $60.00 to $73.00 in a research report on Thursday. Finally, Bank of America initiated coverage on shares of KB Home in a research report on Monday, November 8th. They set a neutral rating on the stock. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, KB Home has a consensus rating of Buy and an average target price of $54.73.

NYSE:KBH opened at $49.04 on Friday. The business’s 50-day simple moving average is $43.04 and its two-hundred day simple moving average is $41.86. The stock has a market cap of $4.29 billion, a PE ratio of 8.13, a P/E/G ratio of 0.17 and a beta of 1.76. KB Home has a 52 week low of $34.92 and a 52 week high of $52.48.

KB Home (NYSE:KBH) last issued its earnings results on Wednesday, January 12th. The construction company reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.14. KB Home had a return on equity of 19.79% and a net margin of 9.86%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm posted $1.12 earnings per share. The business’s revenue was up 40.3% compared to the same quarter last year. As a group, research analysts forecast that KB Home will post 7.88 EPS for the current year.

In other news, EVP Brian J. Woram sold 39,370 shares of the firm’s stock in a transaction that occurred on Wednesday, November 10th. The shares were sold at an average price of $41.56, for a total transaction of $1,636,217.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey T. Mezger sold 166,861 shares of the firm’s stock in a transaction that occurred on Tuesday, November 9th. The stock was sold at an average price of $42.66, for a total transaction of $7,118,290.26. The disclosure for this sale can be found here. Insiders sold a total of 352,032 shares of company stock worth $14,837,469 over the last three months. 4.40% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Millennium Management LLC boosted its stake in shares of KB Home by 961.8% during the second quarter. Millennium Management LLC now owns 1,473,440 shares of the construction company’s stock valued at $59,998,000 after purchasing an additional 1,334,668 shares in the last quarter. Balyasny Asset Management LLC boosted its stake in shares of KB Home by 195.6% during the third quarter. Balyasny Asset Management LLC now owns 1,716,007 shares of the construction company’s stock valued at $66,787,000 after purchasing an additional 1,135,484 shares in the last quarter. Boston Common Asset Management LLC boosted its stake in shares of KB Home by 277.4% during the second quarter. Boston Common Asset Management LLC now owns 778,766 shares of the construction company’s stock valued at $31,711,000 after purchasing an additional 572,426 shares in the last quarter. Morgan Stanley boosted its stake in shares of KB Home by 254.9% during the second quarter. Morgan Stanley now owns 548,339 shares of the construction company’s stock valued at $22,328,000 after purchasing an additional 393,836 shares in the last quarter. Finally, Aristotle Capital Boston LLC acquired a new stake in KB Home in the second quarter valued at approximately $11,732,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

About KB Home

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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