KB Home (NYSE:KBH) Rating Increased to Sector Perform at Royal Bank of Canada

KB Home (NYSE:KBH) was upgraded by equities research analysts at Royal Bank of Canada from an “underperform” rating to a “sector perform” rating in a research note issued on Friday, Marketbeat.com reports. The firm currently has a $67.00 target price on the construction company’s stock, down from their previous target price of $70.00. Royal Bank of Canada’s target price would indicate a potential upside of 2.71% from the company’s current price.

A number of other research analysts have also recently issued reports on KBH. Wells Fargo & Company reduced their price objective on shares of KB Home from $83.00 to $74.00 and set an “underweight” rating for the company in a report on Tuesday, December 17th. Wedbush boosted their price objective on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Barclays downgraded KB Home from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $99.00 to $85.00 in a research note on Wednesday, December 11th. JPMorgan Chase & Co. cut their target price on KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Finally, Bank of America increased their price target on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Two 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $80.00.

KB Home Stock Up 1.2 %

Shares of KBH opened at $65.23 on Friday. The business’s fifty day moving average is $74.46 and its 200 day moving average is $77.98. KB Home has a 12-month low of $58.05 and a 12-month high of $89.70. The stock has a market cap of $4.78 billion, a P/E ratio of 8.36, a P/E/G ratio of 0.57 and a beta of 1.86.

Insider Activity at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,737,156.20. This represents a 44.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On KB Home

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of KB Home by 47.9% in the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after purchasing an additional 1,752,498 shares in the last quarter. State Street Corp boosted its holdings in KB Home by 1.3% in the 3rd quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock worth $303,285,000 after buying an additional 45,311 shares during the period. Fisher Asset Management LLC grew its stake in KB Home by 3.4% in the 3rd quarter. Fisher Asset Management LLC now owns 2,206,172 shares of the construction company’s stock valued at $189,047,000 after buying an additional 73,051 shares in the last quarter. Geode Capital Management LLC grew its stake in KB Home by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock valued at $166,125,000 after buying an additional 16,593 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in KB Home by 9.6% during the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock valued at $118,244,000 after acquiring an additional 147,326 shares during the period. 96.09% of the stock is currently owned by institutional investors.

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.