Wells Fargo & Company Has Lowered Expectations for KB Home (NYSE:KBH) Stock Price

KB Home (NYSE:KBH) had its target price reduced by Wells Fargo & Company from $74.00 to $65.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the construction company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 2.72% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. UBS Group lowered their price target on KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada raised KB Home from an “underperform” rating to a “sector perform” rating and cut their price objective for the company from $70.00 to $67.00 in a report on Friday. Wedbush boosted their target price on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Bank of America upped their price objective on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Barclays cut shares of KB Home from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $99.00 to $85.00 in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $79.25.

KB Home Price Performance

Shares of KBH traded up $0.09 on Monday, reaching $63.28. 210,027 shares of the stock traded hands, compared to its average volume of 955,575. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 8.11, a P/E/G ratio of 0.57 and a beta of 1.86. The stock’s 50-day moving average price is $74.16 and its 200-day moving average price is $78.05. KB Home has a 12 month low of $58.05 and a 12 month high of $89.70.

Institutional Investors Weigh In On KB Home

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New Hampshire lifted its position in shares of KB Home by 3.1% during the fourth quarter. Bank of New Hampshire now owns 33,343 shares of the construction company’s stock worth $2,191,000 after purchasing an additional 989 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of KB Home by 4.2% during the 4th quarter. Nordea Investment Management AB now owns 152,056 shares of the construction company’s stock worth $10,059,000 after buying an additional 6,195 shares during the period. Versant Capital Management Inc raised 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 valued at $50,000 after purchasing an additional 557 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of KB Home by 12.1% during the 3rd quarter. Franklin Resources Inc. now owns 65,715 shares of the construction company’s stock worth $5,337,000 after purchasing an additional 7,100 shares during the period. Finally, Castellan Group boosted its holdings in KB Home by 0.8% during the 3rd quarter. Castellan Group now owns 75,585 shares of the construction company’s stock valued at $6,477,000 after acquiring an additional 570 shares during the period. 96.09% of the stock is 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.