KB Home (NYSE:KBH) Price Target Cut to $65.00 by Analysts at Wells Fargo & Company

KB Home (NYSE:KBH) had its price target trimmed by Wells Fargo & Company from $74.00 to $65.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an underweight rating on the construction company’s stock.

A number of other research firms also recently weighed in on KBH. Wedbush increased their price objective on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Bank of America increased their price objective on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. decreased their price objective on KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Barclays downgraded KB Home from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $99.00 to $85.00 in a report on Wednesday, December 11th. Finally, Royal Bank of Canada upgraded KB Home from an “underperform” rating to a “sector perform” rating and decreased their price objective for the company from $70.00 to $67.00 in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $75.88.

KB Home Stock Performance

Shares of NYSE:KBH opened at $68.36 on Monday. The company has a fifty day moving average of $73.32 and a 200-day moving average of $77.92. The company has a market capitalization of $5.01 billion, a PE ratio of 8.76, a price-to-earnings-growth ratio of 0.57 and a beta of 1.86. KB Home has a 52-week low of $58.05 and a 52-week high of $89.70.

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

Hedge Funds Weigh In On KB Home

A number of institutional investors and hedge funds have recently made changes to their positions in KBH. Financial Management Professionals Inc. bought a new position in shares of KB Home during the 3rd quarter worth about $32,000. Riggs Asset Managment Co. Inc. bought a new position in shares of KB Home during the 3rd quarter worth about $43,000. Versant Capital Management Inc boosted its position in shares of KB Home by 275.7% during the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after purchasing an additional 557 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of KB Home during the 3rd quarter worth about $59,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of KB Home during the 3rd quarter worth about $61,000. 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.