Wells Fargo & Company Cuts KB Home (NYSE:KBH) Price Target to $65.00

KB Home (NYSE:KBH) had its price target cut by Wells Fargo & Company from $74.00 to $65.00 in a research report released on Monday morning,Benzinga reports. They currently have an underweight rating on the construction company’s stock.

Several other brokerages have also recently issued reports on KBH. Bank of America boosted their price target on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. UBS Group cut their price target on KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their price target on KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Wedbush boosted their price target on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada upgraded KB Home from an “underperform” rating to a “sector perform” rating and cut their price target for the company from $70.00 to $67.00 in a research note on Friday, January 10th. 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.88.

KB Home Stock Up 1.8 %

Shares of NYSE:KBH opened at $68.36 on Monday. 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 $5.01 billion, a PE ratio of 8.76, a P/E/G ratio of 0.57 and a beta of 1.86. The business has a 50 day moving average of $73.32 and a 200-day moving average of $77.92.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Monday, January 13th. The construction company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. The business’s revenue was up 19.5% on a year-over-year basis. Equities research analysts expect that KB Home will post 8.42 earnings per share for the current year.

Institutional Investors Weigh In On KB Home

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC lifted its stake in KB Home by 15.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 699,668 shares of the construction company’s stock worth $45,982,000 after purchasing an additional 93,277 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in KB Home during the fourth quarter worth $44,118,000. Mirador Capital Partners LP acquired a new position in shares of KB Home during the fourth quarter worth $239,000. Burney Co. acquired a new position in shares of KB Home during the fourth quarter worth $230,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of KB Home by 7.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 27,843 shares of the construction company’s stock worth $1,830,000 after buying an additional 1,890 shares in the last quarter. 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.