KB Home (NYSE:KBH) PT Raised to $77.00

KB Home (NYSE:KBH) had its price target lifted by equities research analysts at Keefe, Bruyette & Woods from $74.00 to $77.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 9.05% from the stock’s previous close.

A number of other brokerages also recently commented on KBH. JPMorgan Chase & Co. lifted their price objective on KB Home from $68.50 to $70.50 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. The Goldman Sachs Group boosted their price objective on KB Home from $61.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. Wells Fargo & Company boosted their price objective on KB Home from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Zelman & Associates restated an “underperform” rating and set a $69.00 price objective on shares of KB Home in a research note on Monday, May 13th. Finally, Evercore ISI reduced their price objective on KB Home from $82.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $67.10.

KB Home Stock Performance

KB Home stock opened at $70.61 on Thursday. The stock has a fifty day moving average of $68.25 and a two-hundred day moving average of $65.02. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 0.77 and a beta of 1.77. KB Home has a fifty-two week low of $42.11 and a fifty-two week high of $74.65.

KB Home (NYSE:KBH) last released its quarterly earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.19. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. KB Home had a return on equity of 15.81% and a net margin of 9.43%. KB Home’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 earnings per share. On average, analysts forecast that KB Home will post 8.01 EPS for the current fiscal year.

Insider Activity

In other news, Director Thomas W. Gilligan sold 3,914 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $70.48, for a total transaction of $275,858.72. Following the completion of the transaction, the director now directly owns 48,217 shares of the company’s stock, valued at $3,398,334.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Thomas W. Gilligan sold 3,914 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $70.48, for a total transaction of $275,858.72. Following the completion of the transaction, the director now directly owns 48,217 shares of the company’s stock, valued at $3,398,334.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeff Kaminski sold 38,386 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $66.56, for a total value of $2,554,972.16. Following the transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,294,522.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,460 shares of company stock valued at $4,384,468. 4.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KB Home

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Manchester Capital Management LLC grew its holdings in KB Home by 433.0% in the 4th quarter. Manchester Capital Management LLC now owns 485 shares of the construction company’s stock worth $30,000 after buying an additional 394 shares in the last quarter. Byrne Asset Management LLC bought a new position in KB Home in the 1st quarter worth approximately $41,000. GAMMA Investing LLC bought a new position in KB Home in the 4th quarter worth approximately $47,000. Fidelis Capital Partners LLC acquired a new stake in KB Home in the first quarter worth approximately $60,000. Finally, Daiwa Securities Group Inc. acquired a new stake in KB Home in the fourth quarter worth approximately $56,000. 96.09% of the stock is owned by institutional investors.

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.