Wedbush Reiterates Neutral Rating for KB Home (NYSE:KBH)

KB Home (NYSE:KBH)‘s stock had its “neutral” rating reaffirmed by analysts at Wedbush in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They presently have a $67.00 target price on the construction company’s stock. Wedbush’s price objective would suggest a potential downside of 22.13% from the company’s current price.

Several other analysts also recently weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Royal Bank of Canada downgraded KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price for the company. in a report on Thursday, September 5th. Evercore ISI upped their target price on KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Wells Fargo & Company upped their target price on KB Home from $70.00 to $80.00 and gave the company an “equal weight” rating in a report on Monday, September 9th. Finally, The Goldman Sachs Group upped their target price on KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, KB Home presently has a consensus rating of “Hold” and an average price target of $73.71.

KB Home Stock Performance

Shares of KBH stock opened at $86.04 on Thursday. KB Home has a fifty-two week low of $42.11 and a fifty-two week high of $88.31. The stock has a 50 day moving average price of $80.23 and a two-hundred day moving average price of $72.30. The company has a market capitalization of $6.47 billion, a P/E ratio of 11.38, a PEG ratio of 0.80 and a beta of 1.81.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, June 18th. The construction company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.37. KB Home had a return on equity of 15.66% and a net margin of 9.43%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.64 billion. As a group, equities analysts predict that KB Home will post 8.38 earnings per share for the current year.

Institutional Investors Weigh In On KB Home

Institutional investors have recently modified their holdings of the stock. Heritage Wealth Management Inc. purchased a new stake in shares of KB Home during the second quarter valued at $575,000. Sanctuary Advisors LLC purchased a new stake in shares of KB Home during the second quarter valued at $691,000. Cetera Investment Advisers boosted its position in shares of KB Home by 3.1% during the second quarter. Cetera Investment Advisers now owns 23,097 shares of the construction company’s stock valued at $1,621,000 after buying an additional 698 shares during the last quarter. Invst LLC boosted its position in shares of KB Home by 6.4% during the second quarter. Invst LLC now owns 12,547 shares of the construction company’s stock valued at $846,000 after buying an additional 751 shares during the last quarter. Finally, Creative Planning boosted its position in shares of KB Home by 20.9% during the second quarter. Creative Planning now owns 23,662 shares of the construction company’s stock valued at $1,661,000 after buying an additional 4,096 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

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.