UBS Group Issues Pessimistic Forecast for KB Home (NYSE:KBH) Stock Price

KB Home (NYSE:KBH) had its price target lowered by research analysts at UBS Group from $105.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. UBS Group’s price target would suggest a potential upside of 57.88% from the company’s previous close.

Several other research firms also recently commented on KBH. Bank of America raised their target price on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Wells Fargo & Company reduced their target price on shares of KB Home from $83.00 to $74.00 and set an “underweight” rating on the stock in a research note on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price objective on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Barclays lowered KB Home from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $99.00 to $85.00 in a research report on Wednesday, December 11th. Finally, Wedbush lifted their price objective on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $80.25.

KB Home Stock Down 1.8 %

KB Home stock traded down $1.13 on Wednesday, hitting $63.34. The company’s stock had a trading volume of 20,895 shares, compared to its average volume of 756,349. The firm has a market cap of $4.64 billion, a P/E ratio of 8.12, a price-to-earnings-growth ratio of 0.57 and a beta of 1.86. The company has a fifty day moving average price of $74.99 and a 200-day moving average price of $78.16. KB Home has a one year low of $58.05 and a one year high of $89.70.

Insiders Place Their Bets

In related 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 transaction of $2,183,500.00. Following the sale, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,737,156.20. This represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.44% of the company’s stock.

Hedge Funds Weigh In On KB Home

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New Hampshire grew its holdings in KB Home by 3.1% in the 4th quarter. Bank of New Hampshire now owns 33,343 shares of the construction company’s stock valued at $2,191,000 after buying an additional 989 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of KB Home by 4.2% in the fourth quarter. Nordea Investment Management AB now owns 152,056 shares of the construction company’s stock valued at $10,059,000 after acquiring an additional 6,195 shares during the period. Versant Capital Management Inc grew its stake in shares of KB Home by 275.7% in the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after acquiring an additional 557 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of KB Home by 12.1% during the third quarter. Franklin Resources Inc. now owns 65,715 shares of the construction company’s stock worth $5,337,000 after purchasing an additional 7,100 shares during the period. Finally, Castellan Group raised its position in shares of KB Home by 0.8% in the third quarter. Castellan Group now owns 75,585 shares of the construction company’s stock valued at $6,477,000 after buying an additional 570 shares in the last quarter. 96.09% of the stock is 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.