The Goldman Sachs Group Has Lowered Expectations for KB Home (NYSE:KBH) Stock Price

KB Home (NYSE:KBH) had its price target cut by The Goldman Sachs Group from $81.00 to $72.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 12.51% from the company’s previous close.

Several other brokerages have also issued reports on KBH. Bank of America lowered their price target on KB Home from $76.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Raymond James restated an “outperform” rating and set a $80.00 price target (down from $93.00) on shares of KB Home in a research note on Tuesday, January 21st. Evercore ISI boosted their price target on KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. UBS Group lowered their price target on KB Home from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods lowered their price target on KB Home from $85.00 to $76.00 and set a “market perform” rating on the stock in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.38.

KB Home Trading Down 0.7 %

KB Home stock opened at $64.00 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51. The business’s 50-day simple moving average is $64.99 and its 200-day simple moving average is $74.67. The firm has a market capitalization of $4.62 billion, a PE ratio of 7.56, a PEG ratio of 0.90 and a beta of 1.89. KB Home has a 52 week low of $59.00 and a 52 week high of $89.70.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Monday, January 13th. The construction company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.99 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 earnings per share. Equities research analysts forecast that KB Home will post 8.42 earnings per share for the current year.

Insider Transactions at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total value of $1,891,175.00. Following the transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,370,708.21. The trade was a 44.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its holdings in KB Home by 47.9% during the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after buying an additional 1,752,498 shares in the last quarter. State Street Corp lifted its holdings in KB Home by 1.3% during the 3rd quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock worth $303,285,000 after buying an additional 45,311 shares in the last quarter. Invesco Ltd. lifted its holdings in KB Home by 2.4% during the 4th quarter. Invesco Ltd. now owns 2,396,967 shares of the construction company’s stock worth $157,529,000 after buying an additional 56,142 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in KB Home by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company’s stock worth $149,928,000 after buying an additional 75,143 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in KB Home by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock worth $166,125,000 after buying an additional 16,593 shares in 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.