KB Home (NYSE:KBH) Price Target Lowered to $65.00 at Wells Fargo & Company

KB Home (NYSE:KBH) had its price objective reduced by equities research analysts at Wells Fargo & Company from $74.00 to $65.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “underweight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 3.50% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada raised shares of KB Home from an “underperform” rating to a “sector perform” rating and cut their target price for the stock from $70.00 to $67.00 in a research note on Friday, January 10th. Barclays downgraded shares of KB Home from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $99.00 to $85.00 in a research note on Wednesday, December 11th. JPMorgan Chase & Co. cut their target price on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Bank of America upped their target price on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Wedbush increased their price objective on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $76.50.

KB Home Stock Performance

KB Home stock opened at $67.36 on Monday. KB Home has a 1 year low of $58.05 and a 1 year high of $89.70. The company’s 50 day simple moving average is $73.56 and its 200-day simple moving average is $77.99. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 0.57 and a beta of 1.86.

KB Home (NYSE:KBH) last announced its earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.08. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the firm earned $1.85 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities analysts expect that KB Home will post 8.42 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KBH. Commonwealth Equity Services LLC boosted its holdings in shares of KB Home by 6.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 6,689 shares of the construction company’s stock valued at $469,000 after buying an additional 427 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of KB Home by 4.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the construction company’s stock valued at $463,000 after buying an additional 300 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of KB Home by 19.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 26,753 shares of the construction company’s stock valued at $1,878,000 after buying an additional 4,357 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of KB Home by 4.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,128 shares of the construction company’s stock valued at $781,000 after buying an additional 446 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of KB Home by 236.8% in the 2nd quarter. Hsbc Holdings PLC now owns 56,920 shares of the construction company’s stock valued at $4,010,000 after buying an additional 40,018 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

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.