KB Home (NYSE:KBH)‘s stock had its “sell” rating reiterated by stock analysts at Bank of America Corp. in a research report issued on Wednesday. They currently have a $12.50 price objective on the stock. Bank of America Corp.’s price objective indicates a potential downside of 16.28% from the stock’s current price.
Several other research firms have also weighed in on KBH. MKM Partners set a $13.00 price target on KB Home and gave the company a “hold” rating in a research report on Wednesday, September 14th. Argus reiterated a “hold” rating on shares of KB Home in a research note on Monday, July 18th. Zacks Investment Research upgraded KB Home from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Monday, July 18th. Buckingham Research cut KB Home from a “buy” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research note on Monday, July 18th. Finally, Credit Suisse Group AG reiterated a “sell” rating and set a $11.50 price objective on shares of KB Home in a research note on Wednesday, June 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $15.27.
KB Home (NYSE:KBH) traded up 1.6082% on Wednesday, hitting $15.1701. The stock had a trading volume of 3,020,561 shares. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 15.5272 and a beta of 1.96. KB Home has a 52 week low of $9.04 and a 52 week high of $16.76. The firm has a 50-day moving average of $15.47 and a 200 day moving average of $14.62.
KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, September 20th. The company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.03. KB Home had a return on equity of 5.83% and a net margin of 2.89%. The company had revenue of $913.30 million for the quarter. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts predict that KB Home will post $1.34 earnings per share for the current year.
In other KB Home news, CEO Jeffrey T. Mezger sold 110,000 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $16.39, for a total transaction of $1,802,900.00. Following the completion of the sale, the chief executive officer now owns 606,716 shares of the company’s stock, valued at $9,944,075.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey T. Mezger sold 230,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $16.43, for a total value of $3,778,900.00. Following the sale, the chief executive officer now directly owns 606,716 shares of the company’s stock, valued at approximately $9,968,343.88. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank bought a new stake in KB Home during the second quarter valued at about $161,000. Teacher Retirement System of Texas raised its position in KB Home by 5.3% in the second quarter. Teacher Retirement System of Texas now owns 10,689 shares of the company’s stock worth $163,000 after buying an additional 538 shares during the period. Capstone Investment Advisors LLC acquired a new position in KB Home during the second quarter worth $166,000. Wedbush Securities Inc. acquired a new position in KB Home during the second quarter worth $189,000. Finally, Bank of Montreal Can acquired a new position in KB Home during the second quarter worth $219,000. 92.39% of the stock is owned by institutional investors and hedge funds.
About KB Home
KB Home is a homebuilding company in the United States. The Company constructs and sells a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. Its segments include the West Coast, Southwest, Central and Southeast homebuilding segments, and financial services segment.
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