KB Home (NYSE:KBH) Price Target Increased to $90.00 by Analysts at Bank of America

KB Home (NYSE:KBH) had its target price upped by stock analysts at Bank of America from $75.00 to $90.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Bank of America‘s price objective points to a potential upside of 3.19% from the company’s previous close.

A number of other brokerages have also issued reports on KBH. Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a research note on Thursday, September 5th. Wells Fargo & Company raised their target price on shares of KB Home from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Monday, September 9th. The Goldman Sachs Group boosted their target price on shares of KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Wedbush reiterated a “neutral” rating and issued a $67.00 price target on shares of KB Home in a report on Thursday, September 12th. Finally, Evercore ISI boosted their price objective on shares of KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $74.96.

KB Home Stock Performance

Shares of KBH opened at $87.22 on Thursday. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 0.80 and a beta of 1.81. KB Home has a 1 year low of $42.11 and a 1 year high of $89.70. The company’s 50 day simple moving average is $81.99 and its 200 day simple moving average is $73.04.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, June 18th. The construction company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.37. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.64 billion. KB Home had a return on equity of 15.66% and a net margin of 9.43%. Equities analysts expect that KB Home will post 8.38 EPS for the current fiscal year.

Institutional Investors Weigh In On KB Home

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new position in KB Home in the 1st quarter valued at about $60,000. Plato Investment Management Ltd lifted its stake in shares of KB Home by 72.0% in the first quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock worth $77,000 after acquiring an additional 452 shares in the last quarter. Tortoise Investment Management LLC boosted its holdings in KB Home by 625.3% in the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock valued at $78,000 after purchasing an additional 963 shares during the last quarter. Manchester Capital Management LLC grew its stake in KB Home by 134.4% during the 1st quarter. Manchester Capital Management LLC now owns 1,137 shares of the construction company’s stock valued at $81,000 after purchasing an additional 652 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in KB Home during the 1st quarter worth approximately $120,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

About KB Home

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.