Bank of America Lowers KB Home (NYSE:KBH) Price Target to $76.00

KB Home (NYSE:KBH) had its target price decreased by equities researchers at Bank of America from $80.00 to $76.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Bank of America‘s price objective points to a potential upside of 11.18% from the company’s current price.

A number of other brokerages also recently weighed in on KBH. UBS Group lowered their price target on KB Home from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Barclays downgraded KB Home from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $99.00 to $85.00 in a research note on Wednesday, December 11th. JPMorgan Chase & Co. dropped their price target on KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Evercore ISI lifted their price objective on shares of KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Wells Fargo & Company decreased their price objective on shares of KB Home from $74.00 to $65.00 and set an “underweight” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, KB Home has a consensus rating of “Hold” and an average price target of $75.88.

KB Home Trading Up 1.8 %

NYSE KBH opened at $68.36 on Tuesday. The company has a market cap of $5.01 billion, a PE ratio of 8.76, a PEG ratio of 0.57 and a beta of 1.86. KB Home has a 12 month low of $58.05 and a 12 month high of $89.70. The stock has a 50 day moving average of $73.32 and a 200-day moving average of $77.92.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.08. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.99 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.85 earnings per share. As a group, sell-side analysts predict that KB Home will post 8.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC raised its position in shares of KB Home by 24.5% in the third quarter. Barclays PLC now owns 196,229 shares of the construction company’s stock valued at $16,816,000 after buying an additional 38,638 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in KB Home by 22.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock worth $77,655,000 after acquiring an additional 164,010 shares during the period. Neo Ivy Capital Management acquired a new position in KB Home in the 3rd quarter valued at $956,000. Cerity Partners LLC lifted its position in shares of KB Home by 24.7% during the 3rd 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 during the period. Finally, Citigroup Inc. grew its holdings in shares of KB Home by 62.1% during the 3rd quarter. Citigroup Inc. now owns 107,051 shares of the construction company’s stock worth $9,173,000 after purchasing an additional 40,992 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

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.