KB Home (NYSE:KBH) had its price objective decreased by Credit Suisse Group from $29.00 to $27.00 in a research note published on Wednesday. Credit Suisse Group currently has a hold rating on the construction company’s stock.
Several other research analysts have also issued reports on KBH. JMP Securities upgraded shares of KB Home from a market perform rating to an outperform rating and set a $30.00 price target for the company in a report on Wednesday. Zacks Investment Research lowered shares of KB Home from a buy rating to a hold rating in a report on Monday, June 11th. Barclays set a $27.00 price target on shares of KB Home and gave the stock a hold rating in a report on Friday, September 14th. Wedbush lowered their price target on shares of KB Home from $33.00 to $29.00 and set a neutral rating for the company in a report on Friday, June 29th. Finally, Bank of America upgraded shares of KB Home from an underperform rating to a buy rating and raised their price target for the stock from $32.00 to $37.00 in a report on Friday, June 29th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $31.06.
NYSE KBH traded down $0.42 during trading hours on Wednesday, reaching $24.09. The company’s stock had a trading volume of 57,328 shares, compared to its average volume of 1,816,671. The firm has a market cap of $2.22 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 0.51 and a beta of 1.38. KB Home has a 52 week low of $21.32 and a 52 week high of $38.80.
In related news, insider Jeffrey T. Mezger sold 125,000 shares of KB Home stock in a transaction on Friday, August 10th. The shares were sold at an average price of $24.12, for a total value of $3,015,000.00. Following the completion of the sale, the insider now owns 811,287 shares of the company’s stock, valued at approximately $19,568,242.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey T. Mezger sold 100,000 shares of KB Home stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $23.56, for a total transaction of $2,356,000.00. Following the completion of the sale, the chief executive officer now directly owns 861,287 shares of the company’s stock, valued at approximately $20,291,921.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 497,818 shares of company stock valued at $11,752,213. Insiders own 8.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. acquired a new stake in KB Home in the 2nd quarter valued at $115,000. CenterStar Asset Management LLC acquired a new stake in KB Home in the 2nd quarter valued at $128,000. Cerebellum GP LLC acquired a new stake in KB Home in the 2nd quarter valued at $176,000. Point72 Asia Hong Kong Ltd acquired a new stake in KB Home in the 1st quarter valued at $238,000. Finally, Koch Industries Inc. acquired a new stake in KB Home in the 1st quarter valued at $246,000. 85.33% of the stock is owned by institutional investors and hedge funds.
KB Home Company Profile
KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.
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