ValuEngine upgraded shares of KB Home (NYSE:KBH) from a sell rating to a hold rating in a research report released on Friday morning.
Several other research analysts also recently commented on the company. Barclays set a $27.00 target price on KB Home and gave the stock a hold rating in a report on Friday. Credit Suisse Group set a $29.00 target price on KB Home and gave the stock a hold rating in a report on Friday, July 13th. Susquehanna Bancshares raised KB Home from a neutral rating to a positive rating and boosted their target price for the stock from $34.00 to $36.00 in a report on Tuesday, July 10th. UBS Group raised KB Home from a neutral rating to a positive rating in a report on Tuesday, July 10th. Finally, Bank of America raised KB Home from an underperform rating to a buy rating and boosted their target price for the stock from $32.00 to $37.00 in a report on Friday, June 29th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $31.00.
NYSE KBH opened at $25.81 on Friday. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 0.51 and a beta of 1.38. KB Home has a 1-year low of $20.68 and a 1-year high of $38.80.
KB Home (NYSE:KBH) last released its quarterly earnings data on Thursday, June 28th. The construction company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. KB Home had a return on equity of 12.31% and a net margin of 2.67%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 earnings per share. equities research analysts predict that KB Home will post 2.86 EPS for the current fiscal year.
In related news, CEO Jeffrey T. Mezger sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $23.56, for a total value of $2,356,000.00. Following the completion of the transaction, the chief executive officer now owns 861,287 shares in the company, valued at approximately $20,291,921.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey T. Mezger sold 272,818 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $23.39, for a total transaction of $6,381,213.02. Following the completion of the transaction, the insider now owns 861,287 shares of the company’s stock, valued at approximately $20,145,502.93. The disclosure for this sale can be found here. Insiders sold a total of 497,818 shares of company stock valued at $11,752,213 in the last 90 days. 8.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund raised its position in KB Home by 1.3% in the 1st quarter. New York State Common Retirement Fund now owns 171,413 shares of the construction company’s stock worth $4,877,000 after purchasing an additional 2,228 shares during the last quarter. OppenheimerFunds Inc. raised its position in KB Home by 5.0% in the 2nd quarter. OppenheimerFunds Inc. now owns 48,051 shares of the construction company’s stock worth $1,309,000 after purchasing an additional 2,298 shares during the last quarter. Mutual of America Capital Management LLC raised its position in KB Home by 3.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 72,138 shares of the construction company’s stock worth $1,965,000 after purchasing an additional 2,696 shares during the last quarter. CIBC World Markets Inc. raised its position in KB Home by 1.5% in the 2nd quarter. CIBC World Markets Inc. now owns 194,357 shares of the construction company’s stock worth $5,294,000 after purchasing an additional 2,828 shares during the last quarter. Finally, Zacks Investment Management raised its position in KB Home by 5.3% in the 2nd quarter. Zacks Investment Management now owns 56,337 shares of the construction company’s stock worth $1,535,000 after purchasing an additional 2,831 shares during the last quarter. Hedge funds and other institutional investors own 85.38% of the company’s stock.
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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