KB Home (NYSE:KBH) was upgraded by equities researchers at JMP Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, September 26th, MarketBeat Ratings reports. The firm currently has a $30.00 target price on the construction company’s stock. JMP Securities’ price target indicates a potential upside of 45.00% from the company’s previous close.
KBH has been the subject of a number of other reports. Bank of America upgraded KB Home from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $32.00 to $37.00 in a research report on Friday, June 29th. Barclays upgraded KB Home from an “underweight” rating to an “equal weight” rating in a research report on Friday, June 29th. ValuEngine upgraded KB Home from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Credit Suisse Group set a $29.00 price objective on KB Home and gave the stock a “hold” rating in a research report on Friday, July 13th. Finally, Zacks Investment Research downgraded KB Home from a “buy” rating to a “hold” rating in a research note on Monday, June 11th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.39.
Shares of NYSE:KBH traded down $0.23 during midday trading on Wednesday, reaching $20.69. The company had a trading volume of 2,211,027 shares, compared to its average volume of 2,114,958. KB Home has a 1-year low of $20.55 and a 1-year high of $38.80. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 0.46 and a beta of 1.35.
KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, September 25th. The construction company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.10. KB Home had a return on equity of 13.96% and a net margin of 3.43%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the company posted $0.51 EPS. KB Home’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts anticipate that KB Home will post 2.87 EPS for the current year.
In related news, insider Jeffrey T. Mezger sold 272,818 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $23.39, for a total value of $6,381,213.02. Following the transaction, the insider now directly owns 861,287 shares of the company’s stock, valued at approximately $20,145,502.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey T. Mezger sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $23.56, for a total value of $2,356,000.00. Following the completion of the transaction, the chief executive officer now directly owns 861,287 shares in the company, valued at $20,291,921.72. The disclosure for this sale can be found here. Insiders sold a total of 577,382 shares of company stock worth $13,658,566 over the last three months. 8.60% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in KBH. Itau Unibanco Holding S.A. acquired a new stake in KB Home in the 2nd quarter valued at $115,000. CenterStar Asset Management LLC acquired a new stake in KB Home in the 2nd quarter valued at $128,000. Cerebellum GP LLC acquired a new stake in KB Home in the 2nd quarter valued at $176,000. Point72 Asia Hong Kong Ltd acquired a new stake in KB Home in the 1st quarter valued at $238,000. Finally, Koch Industries Inc. acquired a new stake in KB Home in the 1st quarter valued at $246,000. 85.33% of the stock is currently owned by hedge funds and other institutional investors.
KB Home Company Profile
KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.
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