KB Home (NYSE:KBH) Shares Gap Up to $60.92

Shares of KB Home (NYSE:KBH) gapped up before the market opened on Thursday . The stock had previously closed at $60.92, but opened at $62.82. KB Home shares last traded at $61.62, with a volume of 171,889 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KBH shares. StockNews.com lowered KB Home from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Wells Fargo & Company lifted their target price on KB Home from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. Keefe, Bruyette & Woods lifted their target price on KB Home from $67.00 to $77.00 and gave the stock a “market perform” rating in a report on Thursday, March 28th. UBS Group lifted their target price on KB Home from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Evercore ISI reduced their target price on KB Home from $82.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $66.11.

KB Home Stock Up 1.3 %

The company has a market cap of $4.68 billion, a P/E ratio of 8.40, a price-to-earnings-growth ratio of 0.70 and a beta of 1.73. The company has a fifty day moving average of $65.93 and a 200 day moving average of $58.40.

KB Home (NYSE:KBH) last released its earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.19. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. KB Home had a return on equity of 15.78% and a net margin of 9.29%. KB Home’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 earnings per share. As a group, research analysts forecast that KB Home will post 8.01 EPS for the current year.

Insider Activity at KB Home

In related news, CFO Jeff Kaminski sold 38,386 shares of KB Home stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total transaction of $2,554,972.16. Following the transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,294,522.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO William R. Hollinger sold 45,471 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.47, for a total value of $2,749,631.37. Following the transaction, the chief accounting officer now directly owns 109,981 shares in the company, valued at $6,650,551.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeff Kaminski sold 38,386 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $66.56, for a total value of $2,554,972.16. Following the completion of the transaction, the chief financial officer now owns 34,473 shares in the company, valued at $2,294,522.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 412,021 shares of company stock worth $24,954,977. Corporate insiders own 4.44% of the company’s stock.

Hedge Funds Weigh In On KB Home

Several large investors have recently made changes to their positions in KBH. AQR Capital Management LLC lifted its position in shares of KB Home by 93.9% in the third quarter. AQR Capital Management LLC now owns 2,526,838 shares of the construction company’s stock valued at $116,942,000 after acquiring an additional 1,223,612 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of KB Home by 125.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,861 shares of the construction company’s stock worth $67,281,000 after buying an additional 1,156,233 shares in the last quarter. Norges Bank purchased a new stake in shares of KB Home in the fourth quarter worth about $29,141,000. Jacobs Levy Equity Management Inc. lifted its position in shares of KB Home by 225.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 895,313 shares of the construction company’s stock worth $41,435,000 after buying an additional 620,238 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of KB Home by 1,871.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 615,588 shares of the construction company’s stock worth $24,734,000 after buying an additional 584,363 shares in the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

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.