KB Home (NYSE:KBH) Earns “Hold” Rating from Royal Bank Of Canada

KB Home (NYSE:KBH)‘s stock had its “hold” rating reissued by Royal Bank Of Canada in a note issued to investors on Wednesday, November 15th. They presently have a $31.00 target price on the construction company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 1.81% from the stock’s previous close.

KBH has been the subject of several other reports. MKM Partners restated a “neutral” rating on shares of KB Home in a research report on Tuesday, September 5th. KeyCorp restated a “hold” rating on shares of KB Home in a research report on Tuesday, September 26th. Wedbush restated a “buy” rating and set a $26.00 price objective on shares of KB Home in a research report on Friday, September 22nd. Zacks Investment Research upgraded shares of KB Home from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Wednesday, October 4th. Finally, Credit Suisse Group upped their price target on shares of KB Home from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, September 29th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $22.44.

Shares of KB Home (NYSE:KBH) traded down $0.33 on Wednesday, reaching $30.45. 2,497,971 shares of the company’s stock traded hands, compared to its average volume of 2,538,125. KB Home has a 1-year low of $15.16 and a 1-year high of $31.47. The firm has a market capitalization of $2,662.48, a P/E ratio of 22.14, a P/E/G ratio of 0.73 and a beta of 1.69.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Thursday, September 28th. The construction company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.47 by $0.04. KB Home had a net margin of 3.22% and a return on equity of 7.57%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. research analysts predict that KB Home will post 1.77 earnings per share for the current year.

In related news, EVP Albert Z. Praw sold 150,000 shares of the stock in a transaction on Monday, October 9th. The stock was sold at an average price of $25.85, for a total value of $3,877,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian J. Woram sold 49,529 shares of the stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $27.11, for a total value of $1,342,731.19. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Investment Management Company LLC increased its holdings in KB Home by 0.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 14,426 shares of the construction company’s stock valued at $219,000 after purchasing an additional 94 shares during the period. Amalgamated Bank increased its holdings in KB Home by 2.5% in the second quarter. Amalgamated Bank now owns 11,945 shares of the construction company’s stock valued at $286,000 after purchasing an additional 289 shares during the period. Comerica Bank increased its holdings in KB Home by 0.6% in the second quarter. Comerica Bank now owns 64,359 shares of the construction company’s stock valued at $1,506,000 after purchasing an additional 396 shares during the period. Arizona State Retirement System increased its holdings in KB Home by 1.2% in the second quarter. Arizona State Retirement System now owns 35,000 shares of the construction company’s stock valued at $839,000 after purchasing an additional 400 shares during the period. Finally, Texas Permanent School Fund increased its holdings in KB Home by 0.8% in the second quarter. Texas Permanent School Fund now owns 60,669 shares of the construction company’s stock valued at $1,454,000 after purchasing an additional 459 shares during the period. Institutional investors and hedge funds own 96.95% of the company’s stock.

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About KB Home

KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.

Analyst Recommendations for KB Home (NYSE:KBH)

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