KB Home (NYSE:KBH) Receives Outperform Rating from Raymond James

KB Home (NYSE:KBH)‘s stock had its “outperform” rating restated by equities research analysts at Raymond James in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $80.00 price target on the construction company’s stock, down from their previous price target of $93.00. Raymond James’ target price would indicate a potential upside of 17.12% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Evercore ISI upped their target price on KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. Seaport Res Ptn upgraded shares of KB Home from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Wedbush boosted their price target 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 cut their price objective on KB Home from $80.00 to $76.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. cut their target price on KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $76.63.

KB Home Stock Performance

NYSE KBH traded up $0.42 during trading hours on Tuesday, hitting $68.31. 280,297 shares of the company’s stock were exchanged, compared to its average volume of 1,774,746. The firm has a market capitalization of $5.01 billion, a P/E ratio of 8.06, a price-to-earnings-growth ratio of 0.91 and a beta of 1.86. The business’s 50 day moving average is $72.50 and its 200-day moving average is $78.03. KB Home has a 12-month low of $58.05 and a 12-month high of $89.70.

KB Home (NYSE:KBH) last released its quarterly earnings data on Monday, January 13th. The construction company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.08. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.99 billion. KB Home had a net margin of 9.45% and a return on equity of 16.46%. KB Home’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.85 earnings per share. As a group, equities research analysts anticipate that KB Home will post 8.67 EPS for the current fiscal year.

Hedge Funds Weigh In On KB Home

Several large investors have recently bought and sold shares of the stock. FMR LLC raised its stake in shares of KB Home by 47.9% in the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock valued at $463,690,000 after buying an additional 1,752,498 shares in the last quarter. Holocene Advisors LP bought a new position in KB Home during the third quarter worth about $89,899,000. Hennessy Advisors Inc. acquired a new stake in KB Home during the fourth quarter valued at approximately $44,118,000. Charles Schwab Investment Management Inc. grew its stake in shares of KB Home by 22.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after purchasing an additional 164,010 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of KB Home by 201.8% in the 3rd quarter. Empowered Funds LLC now owns 216,645 shares of the construction company’s stock worth $18,564,000 after buying an additional 144,854 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

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.