KB Home (NYSE:KBH) Given New $52.00 Price Target at Wells Fargo & Company

KB Home (NYSE:KBH) had its target price reduced by stock analysts at Wells Fargo & Company from $53.00 to $52.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the construction company’s stock. Wells Fargo & Company‘s price target points to a potential downside of 1.52% from the company’s previous close.

KBH has been the subject of several other research reports. Royal Bank Of Canada decreased their price target on KB Home from $67.00 to $63.00 and set a “sector perform” rating for the company in a research note on Tuesday, March 25th. The Goldman Sachs Group decreased their target price on KB Home from $81.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Keefe, Bruyette & Woods dropped their price target on shares of KB Home from $76.00 to $65.00 and set a “market perform” rating on the stock in a report on Wednesday, March 26th. Barclays decreased their price objective on shares of KB Home from $60.00 to $56.00 and set an “equal weight” rating for the company in a report on Tuesday, March 25th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $75.00 target price on shares of KB Home in a research report on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $69.68.

KB Home Stock Down 1.0%

NYSE:KBH traded down $0.52 during trading hours on Tuesday, reaching $52.80. 782,506 shares of the company traded hands, compared to its average volume of 1,300,317. KB Home has a 1 year low of $48.90 and a 1 year high of $89.70. The business’s 50-day moving average price is $52.87 and its two-hundred day moving average price is $59.84. The stock has a market capitalization of $3.79 billion, a P/E ratio of 6.45, a P/E/G ratio of 3.87 and a beta of 1.35. The company has a current ratio of 6.01, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Monday, June 23rd. The construction company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.05. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. KB Home had a net margin of 9.13% and a return on equity of 15.52%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.15 earnings per share. Analysts predict that KB Home will post 8.42 earnings per share for the current year.

Insider Transactions at KB Home

In other KB Home news, Director Arthur Reginald Collins sold 5,000 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $54.38, for a total value of $271,900.00. Following the sale, the director now owns 10,262 shares in the company, valued at $558,047.56. The trade was a 32.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.89% of the company’s stock.

Institutional Investors Weigh In On KB Home

Several large investors have recently made changes to their positions in the company. Militia Capital Partners LP purchased a new position in KB Home in the first quarter worth about $849,000. Inspire Investing LLC lifted its position in KB Home by 35.4% in the first quarter. Inspire Investing LLC now owns 43,496 shares of the construction company’s stock worth $2,528,000 after buying an additional 11,374 shares during the last quarter. Strs Ohio purchased a new position in KB Home during the first quarter worth $244,000. SCS Capital Management LLC bought a new position in KB Home during the first quarter valued at $350,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of KB Home by 5.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,525 shares of the construction company’s stock valued at $13,108,000 after acquiring an additional 11,103 shares during the period. 96.09% of the stock is owned by institutional investors.

KB Home Company Profile

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.