KB Home (NYSE:KBH) Price Target Cut to $65.00 by Analysts at Wells Fargo & Company

KB Home (NYSE:KBH) had its price target decreased by Wells Fargo & Company from $74.00 to $65.00 in a research report sent to investors on Monday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the construction company’s stock.

Several other research analysts have also recently commented on KBH. Wedbush boosted their target price on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. UBS Group cut their target price on shares of KB Home from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Bank of America lifted their price target on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. dropped their price objective on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Finally, Royal Bank of Canada raised shares of KB Home from an “underperform” rating to a “sector perform” rating and decreased their price objective for the stock from $70.00 to $67.00 in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $79.25.

KB Home Stock Performance

Shares of KBH opened at $64.07 on Monday. The company’s 50-day simple moving average is $73.85 and its 200-day simple moving average is $78.01. KB Home has a 1 year low of $58.05 and a 1 year high of $89.70. The stock has a market capitalization of $4.70 billion, a PE ratio of 8.21, a P/E/G ratio of 0.57 and a beta of 1.86.

KB Home (NYSE:KBH) last released its earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.99 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.85 EPS. On average, sell-side analysts predict that KB Home will post 8.42 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in KB Home by 0.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 21,494 shares of the construction company’s stock valued at $1,842,000 after buying an additional 161 shares during the last quarter. Thrivent Financial for Lutherans raised its position in KB Home by 0.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 18,578 shares of the construction company’s stock valued at $1,304,000 after purchasing an additional 162 shares during the last quarter. CWM LLC boosted its stake in KB Home by 10.2% during the 3rd quarter. CWM LLC now owns 1,975 shares of the construction company’s stock worth $169,000 after purchasing an additional 183 shares during the period. Public Employees Retirement Association of Colorado grew its position in KB Home by 3.9% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 5,029 shares of the construction company’s stock worth $353,000 after purchasing an additional 189 shares during the last quarter. Finally, Jupiter Wealth Management LLC increased its stake in KB Home by 1.2% in the third quarter. Jupiter Wealth Management LLC now owns 18,891 shares of the construction company’s stock valued at $1,619,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

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.