KB Home (NYSE:KBH) PT Raised to $89.00

KB Home (NYSE:KBH) had its price objective raised by investment analysts at Evercore ISI from $86.00 to $89.00 in a report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Evercore ISI’s price target points to a potential upside of 8.39% from the company’s current price.

A number of other brokerages have also recently issued reports on KBH. JPMorgan Chase & Co. lifted their price target on shares of KB Home from $68.50 to $70.50 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Zelman & Associates reissued an “underperform” rating and set a $69.00 price target on shares of KB Home in a research report on Monday, May 13th. StockNews.com cut shares of KB Home from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Wedbush lifted their price target on shares of KB Home from $64.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday, June 20th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of KB Home from $74.00 to $77.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $71.88.

KB Home Trading Up 7.2 %

Shares of KBH opened at $82.11 on Monday. The firm’s 50-day moving average price is $70.02 and its 200-day moving average price is $66.30. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 0.78 and a beta of 1.80. KB Home has a 1-year low of $42.11 and a 1-year high of $82.40.

KB Home (NYSE:KBH) last announced its earnings results on Tuesday, June 18th. The construction company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.37. KB Home had a net margin of 9.43% and a return on equity of 15.66%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.64 billion. On average, research analysts forecast that KB Home will post 8.31 EPS for the current fiscal year.

Insider Activity

In other news, EVP Albert Z. Praw sold 22,160 shares of the business’s stock in a transaction that occurred 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 directly owns 135,512 shares of the company’s stock, valued at $9,500,746.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Albert Z. Praw sold 22,160 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 135,512 shares in the company, valued at $9,500,746.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas W. Gilligan sold 3,914 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $70.48, for a total transaction of $275,858.72. Following the sale, the director now owns 48,217 shares of the company’s stock, valued at $3,398,334.16. The disclosure for this sale can be found here. 4.44% of the stock is owned by corporate insiders.

Institutional Trading of KB Home

Several large investors have recently added to or reduced their stakes in KBH. Falcon Wealth Planning bought a new position in shares of KB Home in the second quarter worth approximately $870,000. Diversified Trust Co boosted its position in shares of KB Home by 8.3% in the second quarter. Diversified Trust Co now owns 10,346 shares of the construction company’s stock worth $726,000 after purchasing an additional 790 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of KB Home in the second quarter worth approximately $1,690,000. Signature Wealth Management Group boosted its position in shares of KB Home by 2.2% in the second quarter. Signature Wealth Management Group now owns 29,218 shares of the construction company’s stock worth $2,050,000 after purchasing an additional 630 shares during the period. Finally, S. R. Schill & Associates bought a new position in shares of KB Home in the second quarter worth approximately $341,000. 96.09% of the stock is currently owned by 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.