KB Home (NYSE:KBH) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Several other analysts also recently commented on KBH. Wedbush reduced their price objective on shares of KB Home from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, June 15th. UBS AG raised shares of KB Home from an “underperform” rating to a “market perform” rating in a research report on Thursday, April 13th. Credit Suisse Group initiated coverage on shares of KB Home in a research report on Thursday, June 22nd. They set a “neutral” rating and a $23.00 price objective for the company. Zacks Investment Research downgraded shares of KB Home from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Finally, Raymond James Financial, Inc. raised shares of KB Home from an “underperform” rating to a “market perform” rating in a research report on Thursday, April 13th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $19.63.
Shares of KB Home (NYSE KBH) traded up 0.600% during trading on Friday, reaching $22.635. 643,191 shares of the company traded hands. KB Home has a 12 month low of $14.06 and a 12 month high of $24.37. The stock has a market capitalization of $1.94 billion, a PE ratio of 17.438 and a beta of 1.62. The company has a 50-day moving average of $23.38 and a 200-day moving average of $20.43.
KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, June 27th. The construction company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. KB Home had a net margin of 3.13% and a return on equity of 7.11%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $929.85 million. During the same quarter last year, the business earned $0.17 EPS. The company’s revenue was up 23.7% compared to the same quarter last year. Analysts forecast that KB Home will post $1.71 earnings per share for the current fiscal year.
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In related news, CFO Jeff Kaminski sold 163,017 shares of KB Home stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $23.40, for a total value of $3,814,597.80. Following the completion of the sale, the chief financial officer now owns 178,251 shares of the company’s stock, valued at approximately $4,171,073.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 8.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of KBH. BlackRock Inc. increased its position in KB Home by 19,999.6% in the first quarter. BlackRock Inc. now owns 10,064,270 shares of the construction company’s stock worth $200,078,000 after buying an additional 10,014,198 shares in the last quarter. Donald Smith & CO. Inc. increased its position in KB Home by 2.5% in the first quarter. Donald Smith & CO. Inc. now owns 6,930,463 shares of the construction company’s stock worth $137,778,000 after buying an additional 169,696 shares in the last quarter. Vanguard Group Inc. increased its position in KB Home by 4.0% in the first quarter. Vanguard Group Inc. now owns 6,392,286 shares of the construction company’s stock worth $127,079,000 after buying an additional 244,007 shares in the last quarter. State Street Corp increased its position in KB Home by 1.7% in the first quarter. State Street Corp now owns 2,582,322 shares of the construction company’s stock worth $51,341,000 after buying an additional 42,224 shares in the last quarter. Finally, Horseman Capital Management Ltd purchased a new position in KB Home during the first quarter worth about $35,460,000. 98.82% of the stock is currently owned by hedge funds and other institutional investors.
About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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