Barclays Downgrades KB Home (NYSE:KBH) to Equal Weight

KB Home (NYSE:KBH) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday,Finviz reports. They presently have a $85.00 price target on the construction company’s stock, down from their prior price target of $99.00. Barclays‘s price target suggests a potential upside of 10.05% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Wedbush boosted their target price on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Bank of America upped their price objective on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Wells Fargo & Company downgraded KB Home from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $80.00 to $83.00 in a report on Monday, October 7th. Royal Bank of Canada downgraded 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, The Goldman Sachs Group raised their price objective on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $78.96.

KB Home Stock Down 2.8 %

Shares of NYSE KBH opened at $77.24 on Wednesday. KB Home has a fifty-two week low of $54.94 and a fifty-two week high of $89.70. The business has a 50 day moving average price of $80.59 and a two-hundred day moving average price of $78.39. The firm has a market cap of $5.66 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 0.62 and a beta of 1.81.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share 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 analyst estimates of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.80 EPS. On average, analysts anticipate that KB Home will post 8.42 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction that occurred on 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 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 SEC, which is available through the SEC website. Corporate insiders own 3.52% of the company’s stock.

Institutional Trading of KB Home

Several hedge funds have recently added to or reduced their stakes in KBH. Financial Management Professionals Inc. bought a new position in shares of KB Home in the third quarter worth $32,000. Riggs Asset Managment Co. Inc. acquired a new stake in KB Home in the third quarter worth about $43,000. Wilmington Savings Fund Society FSB bought a new position in KB Home in the 3rd quarter valued at about $59,000. Banque Cantonale Vaudoise acquired a new position in KB Home during the 3rd quarter valued at about $61,000. Finally, Quest Partners LLC raised its position in shares of KB Home by 101,600.0% during the 3rd quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock worth $87,000 after buying an additional 1,016 shares in the last quarter. Institutional investors own 96.09% of the company’s stock.

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.