Royal Bank of Canada Upgrades KB Home (NYSE:KBH) to Sector Perform

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

KBH has been the subject of several other reports. UBS Group cut their price target on shares of KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. Bank of America lifted 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. JPMorgan Chase & Co. decreased their target price on KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Wedbush lifted their price target on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company cut their price objective on KB Home from $83.00 to $74.00 and set an “underweight” rating for the company in a report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, KB Home has an average rating of “Hold” and an average target price of $80.00.

KB Home Trading Up 1.2 %

Shares of KB Home stock opened at $65.23 on Friday. The company’s 50-day moving average price is $74.46 and its 200-day moving average price is $77.98. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 0.57 and a beta of 1.86. KB Home has a 12-month low of $58.05 and a 12-month high of $89.70.

Insider Transactions at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 34,473 shares in the company, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.44% of the company’s stock.

Institutional Trading of KB Home

A number of institutional investors have recently made changes to their positions in KBH. Barclays PLC raised its holdings in KB Home by 24.5% during the 3rd quarter. Barclays PLC now owns 196,229 shares of the construction company’s stock valued at $16,816,000 after buying an additional 38,638 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of KB Home by 22.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after acquiring an additional 164,010 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of KB Home during the third quarter valued at about $956,000. Cerity Partners LLC boosted its holdings in shares of KB Home by 24.7% during the third quarter. Cerity Partners LLC now owns 38,742 shares of the construction company’s stock worth $3,320,000 after purchasing an additional 7,679 shares during the period. Finally, Citigroup Inc. grew its stake in shares of KB Home by 62.1% in the third quarter. Citigroup Inc. now owns 107,051 shares of the construction company’s stock worth $9,173,000 after purchasing an additional 40,992 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

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.