KB Home (NYSE:KBH) Price Target Raised to $77.00

KB Home (NYSE:KBH) had its target price lifted by stock analysts at Keefe, Bruyette & Woods from $67.00 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 target indicates a potential upside of 10.71% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of KB Home from $68.50 to $70.50 and gave the company a “neutral” rating in a report on Wednesday. UBS Group boosted their price target on KB Home from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. StockNews.com upgraded shares of KB Home from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Wells Fargo & Company boosted their price objective on shares of KB Home from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. Finally, Wedbush raised their target price on KB Home from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, KB Home presently has an average rating of “Hold” and an average price target of $66.11.

KB Home Stock Up 2.0 %

Shares of KB Home stock opened at $69.55 on Thursday. The stock has a market cap of $5.26 billion, a P/E ratio of 9.46, a P/E/G ratio of 0.79 and a beta of 1.73. KB Home has a 12-month low of $38.26 and a 12-month high of $72.00. The business’s 50 day moving average is $64.11 and its 200-day moving average is $56.46.

KB Home (NYSE:KBH) last issued its earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.19. KB Home had a net margin of 9.29% and a return on equity of 15.78%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the business posted $1.45 EPS. KB Home’s revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts expect that KB Home will post 7.79 EPS for the current year.

Insider Activity

In other KB Home news, CEO Jeffrey T. Mezger sold 165,307 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $59.40, for a total value of $9,819,235.80. Following the transaction, the chief executive officer now directly owns 1,491,298 shares in the company, valued at $88,583,101.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Jeffrey T. Mezger sold 165,307 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $59.40, for a total value of $9,819,235.80. Following the sale, the chief executive officer now owns 1,491,298 shares of the company’s stock, valued at $88,583,101.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arthur Reginald Collins sold 5,500 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $60.12, for a total transaction of $330,660.00. Following the sale, the director now directly owns 9,098 shares in the company, valued at approximately $546,971.76. The disclosure for this sale can be found here. Insiders sold a total of 373,635 shares of company stock valued at $22,400,005 in the last ninety days. 4.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KB Home

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KBH. Harbour Investments Inc. purchased a new position in KB Home in the 2nd quarter worth approximately $26,000. Manchester Capital Management LLC grew its position in KB Home by 433.0% in the fourth quarter. Manchester Capital Management LLC now owns 485 shares of the construction company’s stock worth $30,000 after acquiring an additional 394 shares in the last quarter. Bessemer Group Inc. purchased a new stake in KB Home during the second quarter valued at about $34,000. Lazard Asset Management LLC bought a new stake in KB Home during the first quarter worth about $40,000. Finally, Fifth Third Bancorp increased its position in shares of KB Home by 40.9% during the 3rd quarter. Fifth Third Bancorp now owns 930 shares of the construction company’s stock valued at $43,000 after purchasing an additional 270 shares during 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.