Evercore ISI Issues Positive Forecast for KB Home (NYSE:KBH) Stock Price

KB Home (NYSE:KBH) had its price target raised by Evercore ISI from $88.00 to $95.00 in a report published on Tuesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the construction company’s stock.

KBH has been the subject of a number of other research reports. Wells Fargo & Company reduced their price objective on KB Home from $74.00 to $65.00 and set an “underweight” rating for the company in a research note on Monday. Barclays downgraded KB Home from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $99.00 to $85.00 in a report on Wednesday, December 11th. Wedbush upped their target price on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Bank of America upped their target price on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. reduced their target price on KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, KB Home has an average rating of “Hold” and an average target price of $75.88.

KB Home Stock Up 5.1 %

NYSE:KBH opened at $67.36 on Tuesday. The business’s 50-day moving average price is $73.56 and its 200 day moving average price is $77.99. KB Home has a 52-week low of $58.05 and a 52-week high of $89.70. The firm has a market cap of $4.94 billion, a P/E ratio of 8.64, a PEG ratio of 0.57 and a beta of 1.86.

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

Institutional Investors Weigh In On KB Home

Hedge funds have recently bought and sold shares of the business. Financial Management Professionals Inc. purchased a new stake in KB Home in the 3rd quarter worth about $32,000. Riggs Asset Managment Co. Inc. purchased a new stake in KB Home in the 3rd quarter worth about $43,000. Versant Capital Management Inc lifted its stake in KB Home by 275.7% in the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after acquiring an additional 557 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in KB Home in the 3rd quarter worth about $59,000. Finally, Banque Cantonale Vaudoise purchased a new stake in KB Home in the 3rd quarter worth about $61,000. 96.09% of the stock is owned by hedge funds and other 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.