KB Home (NYSE:KBH) PT Raised to $63.00 at Raymond James

KB Home (NYSE:KBH) had its price objective lifted by Raymond James from $55.00 to $63.00 in a research report sent to investors on Friday morning, The Fly reports. Raymond James currently has a strong-buy rating on the construction company’s stock.

Several other brokerages also recently weighed in on KBH. Bank of America initiated coverage on shares of KB Home in a research note on Monday, November 8th. They set a neutral rating on the stock. Zelman & Associates raised shares of KB Home from a hold rating to a buy rating in a research report on Monday, December 13th. Barclays increased their price objective on shares of KB Home from $56.00 to $57.00 and gave the company an overweight rating in a research report on Wednesday, December 15th. Royal Bank of Canada upped their target price on shares of KB Home from $46.00 to $55.00 in a report on Thursday. Finally, Wedbush upped their target price on shares of KB Home from $60.00 to $73.00 in a report on Thursday. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $54.73.

Shares of NYSE KBH opened at $49.04 on Friday. The company’s 50-day simple moving average is $43.04 and its 200-day simple moving average is $41.86. KB Home has a 52-week low of $34.92 and a 52-week high of $52.48. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 8.13, a price-to-earnings-growth ratio of 0.17 and a beta of 1.76.

KB Home (NYSE:KBH) last posted its earnings results on Wednesday, January 12th. The construction company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.14. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.71 billion. KB Home had a net margin of 9.86% and a return on equity of 19.79%. KB Home’s revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 EPS. Equities analysts expect that KB Home will post 7.88 EPS for the current fiscal year.

In other KB Home news, EVP Brian J. Woram sold 39,370 shares of KB Home stock in a transaction on Wednesday, November 10th. The shares were sold at an average price of $41.56, for a total value of $1,636,217.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Melissa Lora sold 24,393 shares of the business’s stock in a transaction on Wednesday, October 20th. The shares were sold at an average price of $40.83, for a total transaction of $995,966.19. The disclosure for this sale can be found here. Insiders sold 352,032 shares of company stock worth $14,837,469 over the last three months. Corporate insiders own 4.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. raised its position in KB Home by 121.9% in the second quarter. American Century Companies Inc. now owns 28,653 shares of the construction company’s stock worth $1,167,000 after acquiring an additional 15,739 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of KB Home by 15,520.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 39,831 shares of the construction company’s stock valued at $1,621,000 after purchasing an additional 39,576 shares during the period. Principal Financial Group Inc. increased its holdings in shares of KB Home by 0.9% in the 2nd quarter. Principal Financial Group Inc. now owns 313,001 shares of the construction company’s stock valued at $12,745,000 after purchasing an additional 2,697 shares during the period. Factorial Partners LLC acquired a new position in shares of KB Home in the 2nd quarter valued at about $855,000. Finally, Deutsche Bank AG grew its stake in shares of KB Home by 104.4% in the 2nd quarter. Deutsche Bank AG now owns 131,284 shares of the construction company’s stock valued at $5,346,000 after buying an additional 67,070 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

KB Home Company Profile

KB Home engages in selling and building a variety of new homes. It builds various types of homes, including attached and detached single-family homes, townhomes, and condominiums. The firm operates through the following segments: West Coast, Southwest, Central, and Southeast. It offer homes in development communities, at urban in-fill locations and as part of mixed-use projects.

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