KB Home (NYSE:KBH – Get 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.
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
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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