Wedbush Boosts KB Home (NYSE:KBH) Price Target to $75.00

KB Home (NYSE:KBH) had its target price lifted by stock analysts at Wedbush from $67.00 to $75.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. Wedbush’s target price points to a potential downside of 9.42% from the stock’s previous close.

A number of other research firms also recently weighed in on KBH. Bank of America boosted their target price on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Wells Fargo & Company upped their price target on shares of KB Home from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Monday, September 9th. Royal Bank of Canada lowered shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective for the company. in a research note on Thursday, September 5th. The Goldman Sachs Group raised their target price on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Finally, Barclays upped their price objective on KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.27.

KB Home Stock Performance

Shares of KBH traded down $4.63 on Wednesday, hitting $82.80. 1,894,919 shares of the stock traded hands, compared to its average volume of 1,257,694. KB Home has a one year low of $42.11 and a one year high of $89.70. The business has a 50 day simple moving average of $82.33 and a 200 day simple moving average of $73.37. The company has a market capitalization of $6.23 billion, a PE ratio of 10.95, a P/E/G ratio of 0.89 and a beta of 1.81.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.02). The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. KB Home had a return on equity of 15.66% and a net margin of 9.43%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.80 EPS. On average, equities analysts expect that KB Home will post 8.38 earnings per share for the current year.

Institutional Trading of KB Home

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans lifted its position in KB Home by 0.9% during the second quarter. Thrivent Financial for Lutherans now owns 18,578 shares of the construction company’s stock worth $1,304,000 after buying an additional 162 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in shares of KB Home by 3.9% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 5,029 shares of the construction company’s stock worth $353,000 after purchasing an additional 189 shares during the period. US Bancorp DE raised its holdings in shares of KB Home by 1.6% in the 1st quarter. US Bancorp DE now owns 12,317 shares of the construction company’s stock worth $873,000 after purchasing an additional 191 shares during the period. Wealthcare Advisory Partners LLC raised its holdings in shares of KB Home by 2.1% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 11,029 shares of the construction company’s stock worth $782,000 after purchasing an additional 231 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of KB Home by 10.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,225 shares of the construction company’s stock worth $201,000 after purchasing an additional 293 shares during the period. 96.09% of the stock is currently 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.