Bank of America Lowers KB Home (NYSE:KBH) Price Target to $76.00

KB Home (NYSE:KBH) had its price objective cut by research analysts at Bank of America from $80.00 to $76.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. Bank of America‘s price objective would suggest a potential upside of 18.62% from the stock’s current price.

Several other analysts have also recently weighed in on KBH. Evercore ISI raised their price objective on shares of KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday. Wedbush upped their price objective on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their target price on KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Royal Bank of Canada raised shares of KB Home from an “underperform” rating to a “sector perform” rating and reduced their target price for the company from $70.00 to $67.00 in a report on Friday. Finally, UBS Group reduced their price objective on KB Home from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $78.58.

KB Home Stock Performance

Shares of KBH stock opened at $64.07 on Tuesday. KB Home has a 52-week low of $58.05 and a 52-week high of $89.70. The business’s fifty day moving average is $73.85 and its 200 day moving average is $78.01. The company has a market capitalization of $4.70 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 0.57 and a beta of 1.86.

KB Home (NYSE:KBH) last released its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.08. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.99 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.85 EPS. On average, sell-side analysts forecast that KB Home will post 8.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of KB Home by 47.9% in the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after purchasing an additional 1,752,498 shares during the period. Holocene Advisors LP bought a new stake in KB Home during the 3rd quarter valued at approximately $89,899,000. Charles Schwab Investment Management Inc. grew its holdings in shares of KB Home by 22.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock worth $77,655,000 after acquiring an additional 164,010 shares during the period. Empowered Funds LLC raised its position in shares of KB Home by 201.8% in the 3rd quarter. Empowered Funds LLC now owns 216,645 shares of the construction company’s stock worth $18,564,000 after acquiring an additional 144,854 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of KB Home by 3.4% in the 3rd quarter. Fisher Asset Management LLC now owns 2,206,172 shares of the construction company’s stock valued at $189,047,000 after purchasing an additional 73,051 shares during the period. 96.09% of the stock is owned by hedge funds and other institutional investors.

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.