KB Home (NYSE:KBH) Stock Rating Upgraded by Royal Bank of Canada

KB Home (NYSE:KBH) was upgraded by analysts at Royal Bank of Canada from an “underperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm presently has a $67.00 price objective on the construction company’s stock, down from their previous price objective of $70.00. Royal Bank of Canada’s price target points to a potential upside of 6.05% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. UBS Group lowered their target price on KB Home from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America raised their price target on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Barclays cut KB Home from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $99.00 to $85.00 in a report on Wednesday, December 11th. Wells Fargo & Company reduced their price target on KB Home from $83.00 to $74.00 and set an “underweight” rating for the company in a report on Tuesday, December 17th. Finally, Wedbush raised their price target on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $80.00.

KB Home Trading Down 3.3 %

Shares of KBH stock opened at $63.18 on Friday. The business’s 50 day moving average is $74.16 and its two-hundred day moving average is $77.98. KB Home has a twelve month low of $58.05 and a twelve month high of $89.70. The company has a market capitalization of $4.63 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 0.57 and a beta of 1.86.

Insider Buying and Selling

In other news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,737,156.20. The trade was a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KB Home

Institutional investors have recently made changes to their positions in the stock. Financial Management Professionals Inc. acquired a new position in shares of KB Home in the third quarter worth $32,000. Riggs Asset Managment Co. Inc. acquired a new position in shares of KB Home in the third quarter worth $43,000. Wilmington Savings Fund Society FSB acquired a new position in shares of KB Home in the third quarter worth $59,000. Banque Cantonale Vaudoise acquired a new position in shares of KB Home in the third quarter worth $61,000. Finally, Versant Capital Management Inc raised its holdings in shares of KB Home by 275.7% in the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after acquiring an additional 557 shares during the last quarter. 96.09% of the stock is owned by institutional investors and hedge funds.

About KB Home

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.