KB Home (NYSE:KBH) Price Target Raised to $70.00 at Royal Bank of Canada

KB Home (NYSE:KBH) had its price objective boosted by equities research analysts at Royal Bank of Canada from $69.00 to $70.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “sector perform” rating on the construction company’s stock. Royal Bank of Canada’s price target points to a potential downside of 1.55% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Barclays boosted their target price on shares of KB Home from $75.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. StockNews.com lowered shares of KB Home from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. The Goldman Sachs Group upped their price objective on shares of KB Home from $61.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. Evercore ISI upped their price objective on shares of KB Home from $78.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of KB Home from $68.50 to $70.50 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $67.10.

KB Home Stock Up 4.5 %

NYSE:KBH traded up $3.06 on Thursday, hitting $71.10. The stock had a trading volume of 413,017 shares, compared to its average volume of 1,182,829. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 0.77 and a beta of 1.77. The company has a fifty day moving average price of $68.02 and a two-hundred day moving average price of $64.87. KB Home has a 1-year low of $42.11 and a 1-year high of $74.65.

KB Home (NYSE:KBH) last posted 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 analyst estimates of $1.46 billion. KB Home had a net margin of 9.43% and a return on equity of 15.81%. KB Home’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.45 EPS. As a group, analysts anticipate that KB Home will post 8.01 earnings per share for the current year.

Insider Buying and Selling at KB Home

In other news, Director Thomas W. Gilligan sold 3,914 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $70.48, for a total value of $275,858.72. Following the completion of the transaction, the director now owns 48,217 shares in the company, valued at approximately $3,398,334.16. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Thomas W. Gilligan sold 3,914 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $70.48, for a total value of $275,858.72. Following the completion of the transaction, the director now owns 48,217 shares in the company, valued at approximately $3,398,334.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Albert Z. Praw sold 22,160 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $70.11, for a total transaction of $1,553,637.60. Following the completion of the transaction, the executive vice president now owns 135,512 shares of the company’s stock, valued at approximately $9,500,746.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,460 shares of company stock valued at $4,384,468. Insiders own 4.44% of the company’s stock.

Institutional Trading of KB Home

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in KB Home by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 7,819,706 shares of the construction company’s stock worth $361,896,000 after purchasing an additional 263,194 shares during the period. AQR Capital Management LLC lifted its stake in shares of KB Home by 93.9% in the 3rd quarter. AQR Capital Management LLC now owns 2,526,838 shares of the construction company’s stock worth $116,942,000 after acquiring an additional 1,223,612 shares during the period. Invesco Ltd. lifted its stake in shares of KB Home by 26.1% in the 3rd quarter. Invesco Ltd. now owns 1,546,880 shares of the construction company’s stock worth $71,590,000 after acquiring an additional 320,554 shares during the period. American Century Companies Inc. lifted its stake in shares of KB Home by 32.3% in the 3rd quarter. American Century Companies Inc. now owns 1,251,656 shares of the construction company’s stock worth $57,927,000 after acquiring an additional 305,820 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of KB Home by 2.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company’s stock worth $63,692,000 after acquiring an additional 18,981 shares during the period. Institutional investors and hedge funds 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.