Keefe, Bruyette & Woods Cuts KB Home (NYSE:KBH) Price Target to $76.00

KB Home (NYSE:KBH) had its price target cut by Keefe, Bruyette & Woods from $85.00 to $76.00 in a report issued on Friday,Benzinga reports. They currently have a market perform rating on the construction company’s stock.

A number of other equities research analysts have also weighed in on the stock. Barclays decreased their price objective on shares of KB Home from $85.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. 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 research report on Monday, January 13th. UBS Group decreased their target price on shares of KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Bank of America cut their price objective on shares of KB Home from $80.00 to $76.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reduced their price objective on KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $76.32.

KB Home Price Performance

NYSE KBH opened at $67.99 on Friday. The business has a 50 day simple moving average of $72.80 and a two-hundred day simple moving average of $78.02. 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 $4.99 billion, a PE ratio of 8.72, a P/E/G ratio of 0.54 and a beta of 1.86.

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

Hedge Funds Weigh In On KB Home

A number of hedge funds have recently made changes to their positions in the company. FMR LLC raised its holdings in KB Home by 47.9% in the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock valued at $463,690,000 after acquiring an additional 1,752,498 shares during the last quarter. State Street Corp grew its position in shares of KB Home by 1.3% in the third quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock valued at $303,285,000 after purchasing an additional 45,311 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of KB Home by 3.4% in the third quarter. Fisher Asset Management LLC now owns 2,206,172 shares of the construction company’s stock valued at $189,047,000 after purchasing an additional 73,051 shares during the last quarter. Geode Capital Management LLC lifted its position in KB Home by 0.9% during the third 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. Finally, Holocene Advisors LP acquired a new position in KB Home during the third quarter worth $89,899,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

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.