JPMorgan Chase & Co. Has Lowered Expectations for KB Home (NYSE:KBH) Stock Price

KB Home (NYSE:KBH) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $82.00 to $74.50 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 9.02% from the stock’s previous close.

A number of other research firms have also recently commented on KBH. Barclays reduced their price target on KB Home from $85.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday. Wells Fargo & Company reduced their price target on KB Home from $74.00 to $65.00 and set an “underweight” rating for the company in a report on Monday. Royal Bank of Canada upgraded KB Home from an “underperform” rating to a “sector perform” rating and reduced their price objective for the stock from $70.00 to $67.00 in a report on Friday, January 10th. Wedbush boosted their price objective on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, UBS Group reduced their price objective on KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.88.

KB Home Stock Performance

NYSE:KBH opened at $68.33 on Wednesday. The stock’s 50-day simple moving average is $73.08 and its 200 day simple moving average is $77.86. The company has a market cap of $5.01 billion, a P/E ratio of 8.76, a P/E/G ratio of 0.54 and a beta of 1.86. KB Home has a 52-week low of $58.05 and a 52-week high of $89.70.

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

Institutional Investors Weigh In On KB Home

Several institutional investors have recently made changes to their positions in KBH. Financial Management Professionals Inc. bought a new stake in shares of KB Home in the third quarter valued at approximately $32,000. Riggs Asset Managment Co. Inc. bought a new stake in shares of KB Home in the third quarter valued at approximately $43,000. Versant Capital Management Inc boosted its stake 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 valued at $50,000 after buying an additional 557 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in KB Home during the third quarter valued at approximately $59,000. Finally, Banque Cantonale Vaudoise acquired a new position in KB Home during the third quarter valued at approximately $61,000. 96.09% of the stock is currently owned by institutional investors.

KB Home Company Profile

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.