Wells Fargo & Company Lowers KB Home (NYSE:KBH) Price Target to $74.00

KB Home (NYSE:KBH) had its price objective decreased by equities researchers at Wells Fargo & Company from $83.00 to $74.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the construction company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 10.02% from the stock’s previous close.

A number of other research analysts have also weighed in on KBH. The Goldman Sachs Group raised their price target on shares of KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Bank of America lifted their price target on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. lowered their price target on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target for the company. in a report on Thursday, September 5th. Finally, Barclays lowered KB Home from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $99.00 to $85.00 in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $79.17.

KB Home Price Performance

Shares of KB Home stock opened at $67.26 on Tuesday. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 0.59 and a beta of 1.81. The stock’s 50-day moving average is $79.18 and its 200 day moving average is $78.45. KB Home has a one year low of $58.05 and a one year high of $89.70.

KB Home (NYSE:KBH) last released its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. KB Home’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $1.80 EPS. On average, sell-side analysts expect that KB Home will post 8.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,737,156.20. This represents a 44.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.44% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Financial Management Professionals Inc. purchased a new position in KB Home in the 3rd quarter worth $32,000. Riggs Asset Managment Co. Inc. purchased a new position in shares of KB Home in the third quarter worth about $43,000. Wilmington Savings Fund Society FSB purchased a new stake in KB Home during the 3rd quarter valued at about $59,000. Banque Cantonale Vaudoise bought a new position in KB Home during the 3rd quarter worth approximately $61,000. Finally, Tortoise Investment Management LLC increased its stake in KB Home by 625.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock worth $78,000 after purchasing an additional 963 shares during the period. 96.09% of the stock is currently owned by 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.