KB Home (KBH) Price Target Cut to $26.00

KB Home (NYSE:KBH) had its price target dropped by equities researchers at JMP Securities from $30.00 to $26.00 in a report released on Monday. The brokerage currently has a “buy” rating on the construction company’s stock. JMP Securities’ price target points to a potential upside of 32.99% from the company’s current price.

Several other research analysts also recently weighed in on KBH. ValuEngine downgraded KB Home from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Barclays set a $27.00 target price on KB Home and gave the stock a “hold” rating in a research note on Friday, September 14th. Wedbush reaffirmed a “neutral” rating and set a $29.00 target price (up from $25.00) on shares of KB Home in a research note on Thursday, September 20th. Zacks Investment Research downgraded KB Home from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Finally, MKM Partners set a $32.00 target price on KB Home and gave the stock a “hold” rating in a research note on Wednesday, September 26th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.84.

Shares of KBH stock traded up $0.08 during trading hours on Monday, hitting $19.55. 15,286 shares of the company’s stock were exchanged, compared to its average volume of 2,818,058. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.46 and a beta of 1.54. KB Home has a fifty-two week low of $16.82 and a fifty-two week high of $38.80.

KB Home (NYSE:KBH) last announced its earnings results on Tuesday, September 25th. The construction company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.10. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.27 billion. KB Home had a return on equity of 13.96% and a net margin of 3.43%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 EPS. On average, research analysts forecast that KB Home will post 2.67 EPS for the current year.

In related news, SVP William R. Hollinger sold 79,564 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $23.96, for a total transaction of $1,906,353.44. Following the completion of the sale, the senior vice president now directly owns 234,539 shares in the company, valued at $5,619,554.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of KBH. Itau Unibanco Holding S.A. purchased a new stake in KB Home in the 2nd quarter valued at $115,000. GAM Holding AG purchased a new stake in KB Home in the 3rd quarter valued at $225,000. Tower Research Capital LLC TRC grew its holdings in KB Home by 989.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,661 shares of the construction company’s stock valued at $231,000 after buying an additional 8,774 shares in the last quarter. Toth Financial Advisory Corp purchased a new stake in KB Home in the 3rd quarter valued at $239,000. Finally, Signition LP purchased a new stake in KB Home in the 2nd quarter valued at $247,000. Institutional investors own 85.85% 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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