Royal Bank Of Canada Cuts KB Home (NYSE:KBH) Price Target to $54.00

KB Home (NYSE:KBH) had its price target cut by research analysts at Royal Bank Of Canada from $59.00 to $54.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the construction company’s stock. Royal Bank Of Canada’s price objective suggests a potential downside of 7.01% from the company’s previous close.

KBH has been the topic of a number of other reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of KB Home in a research note on Wednesday, October 8th. Zacks Research raised KB Home from a “strong sell” rating to a “hold” rating in a research report on Friday, September 5th. Raymond James Financial increased their price objective on KB Home from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, September 25th. UBS Group reaffirmed a “buy” rating and set a $83.00 target price on shares of KB Home in a research report on Thursday, September 25th. Finally, JPMorgan Chase & Co. cut their target price on shares of KB Home from $63.00 to $53.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, KB Home has a consensus rating of “Hold” and an average price target of $63.45.

KB Home Stock Down 7.5%

KBH stock traded down $4.68 during midday trading on Friday, hitting $58.07. 949,432 shares of the company traded hands, compared to its average volume of 1,383,009. KB Home has a twelve month low of $48.90 and a twelve month high of $72.64. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 5.12 and a beta of 1.40. The business has a 50 day simple moving average of $62.13 and a 200-day simple moving average of $59.96.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Thursday, December 18th. The construction company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.13. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. KB Home had a net margin of 7.92% and a return on equity of 12.91%. KB Home’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.52 EPS. Equities research analysts forecast that KB Home will post 8.42 EPS for the current year.

Insider Buying and Selling at KB Home

In other news, EVP Albert Z. Praw sold 20,284 shares of KB Home stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $60.08, for a total value of $1,218,662.72. Following the completion of the transaction, the executive vice president owned 104,062 shares in the company, valued at approximately $6,252,044.96. The trade was a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.89% of the company’s stock.

Hedge Funds Weigh In On KB Home

Institutional investors and hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC acquired a new stake in shares of KB Home in the first quarter valued at $209,000. Van Hulzen Asset Management LLC increased its position in KB Home by 199.9% in the 1st quarter. Van Hulzen Asset Management LLC now owns 6,001 shares of the construction company’s stock valued at $349,000 after acquiring an additional 4,000 shares in the last quarter. AlphaQuest LLC acquired a new stake in KB Home in the 1st quarter valued at about $60,000. Systematic Financial Management LP lifted its position in shares of KB Home by 0.4% during the first quarter. Systematic Financial Management LP now owns 492,440 shares of the construction company’s stock worth $28,621,000 after purchasing an additional 2,137 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its position in shares of KB Home by 102.0% during the first quarter. Campbell & CO Investment Adviser LLC now owns 35,931 shares of the construction company’s stock worth $2,088,000 after purchasing an additional 18,139 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Company Profile

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.