KB Home (KBH) Price Target Lowered to $27.00 at Credit Suisse Group

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.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, September 25th. The construction company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.10. KB Home had a net margin of 3.43% and a return on equity of 14.18%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business earned $0.51 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. analysts predict that KB Home will post 2.81 EPS for the current year.

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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Analyst Recommendations for KB Home (NYSE:KBH)

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