Wedbush Trims KB Home (NYSE:KBH) Target Price to $44.00

KB Home (NYSE:KBHGet Rating) had its price objective cut by investment analysts at Wedbush from $60.00 to $44.00 in a research note issued on Monday, MarketBeat reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Wedbush’s target price would indicate a potential upside of 63.75% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Credit Suisse Group downgraded shares of KB Home from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $42.00 to $35.00 in a research note on Monday, July 11th. Raymond James reduced their price target on KB Home from $63.00 to $44.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, June 29th. Barclays dropped their price objective on shares of KB Home from $47.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 8th. Wells Fargo & Company lowered their price target on shares of KB Home from $40.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, June 17th. Finally, Bank of America lowered shares of KB Home from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, KB Home has an average rating of “Moderate Buy” and an average price target of $39.00.

KB Home Stock Performance

KBH stock traded down $1.15 during trading on Monday, hitting $26.87. The stock had a trading volume of 120,590 shares, compared to its average volume of 1,487,371. KB Home has a 1-year low of $24.78 and a 1-year high of $50.20. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 3.84, a price-to-earnings-growth ratio of 0.38 and a beta of 1.64. The company’s 50 day moving average price is $30.51 and its two-hundred day moving average price is $31.93.

KB Home (NYSE:KBHGet Rating) last issued its quarterly earnings results on Wednesday, June 22nd. The construction company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.35. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.61 billion. KB Home had a return on equity of 21.92% and a net margin of 10.69%. During the same quarter in the prior year, the company posted $1.50 EPS. As a group, sell-side analysts forecast that KB Home will post 10.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of KBH. Prospera Financial Services Inc bought a new position in shares of KB Home in the first quarter worth $28,000. KRS Capital Management LLC acquired a new stake in KB Home in the fourth quarter worth about $29,000. Massmutual Trust Co. FSB ADV grew its position in KB Home by 1,375.4% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 900 shares of the construction company’s stock valued at $29,000 after buying an additional 839 shares in the last quarter. Lazard Asset Management LLC acquired a new position in KB Home during the 1st quarter valued at about $40,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of KB Home during the 2nd quarter worth about $49,000. 91.45% of the stock is owned by institutional investors and hedge funds.

KB Home Company Profile

(Get Rating)

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.

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