KB Home (NYSE:KBH) Price Target Lowered to $63.00 at Royal Bank of Canada

KB Home (NYSE:KBH) had its price objective reduced by investment analysts at Royal Bank of Canada from $67.00 to $63.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the construction company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 5.67% from the company’s current price.

A number of other brokerages also recently issued reports on KBH. JPMorgan Chase & Co. dropped their price target on KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Bank of America dropped their target price on shares of KB Home from $67.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays decreased their price target on shares of KB Home from $60.00 to $56.00 and set an “equal weight” rating on the stock in a report on Tuesday. UBS Group lowered their price objective on shares of KB Home from $97.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Raymond James reiterated an “outperform” rating and issued a $80.00 target price (down from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, KB Home currently has a consensus rating of “Hold” and an average target price of $72.13.

KB Home Price Performance

NYSE KBH traded down $2.17 on Tuesday, hitting $59.62. The stock had a trading volume of 2,385,748 shares, compared to its average volume of 1,220,036. The firm has a 50-day moving average of $64.17 and a 200-day moving average of $72.95. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51. KB Home has a 52-week low of $58.80 and a 52-week high of $89.70. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.51 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.76 EPS. Equities analysts expect that KB Home will post 8.42 EPS for the current year.

Insider Transactions at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 owns 34,473 shares in the company, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.89% of the company’s stock.

Institutional Trading of KB Home

A number of institutional investors have recently modified their holdings of the company. Barclays PLC raised its position in KB Home by 24.5% during the 3rd quarter. Barclays PLC now owns 196,229 shares of the construction company’s stock valued at $16,816,000 after purchasing an additional 38,638 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of KB Home by 22.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after buying an additional 164,010 shares during the period. Neo Ivy Capital Management bought a new position in shares of KB Home during the third quarter valued at approximately $956,000. Blue Trust Inc. lifted its stake in KB Home by 35.9% in the fourth quarter. Blue Trust Inc. now owns 1,727 shares of the construction company’s stock worth $113,000 after acquiring an additional 456 shares during the period. Finally, Cerity Partners LLC boosted its holdings in KB Home by 24.7% in the third quarter. Cerity Partners LLC now owns 38,742 shares of the construction company’s stock valued at $3,320,000 after acquiring an additional 7,679 shares in the last quarter. 96.09% of the stock is currently owned by hedge funds and other 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.