KB Home (NYSE:KBH) Stock Rating Lowered by Wells Fargo & Company

KB Home (NYSE:KBH) was downgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a note issued to investors on Monday, Marketbeat.com reports. They currently have a $83.00 price objective on the construction company’s stock, up from their previous price objective of $80.00. Wells Fargo & Company‘s price target would indicate a potential upside of 2.34% from the stock’s current price.

A number of other brokerages have also issued reports on KBH. Wedbush lifted their target price on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. The Goldman Sachs Group lifted their price objective on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Evercore ISI increased their target price on KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods lifted their price target on shares of KB Home from $74.00 to $77.00 and gave the stock a “market perform” rating in a research note on Thursday, June 20th. Finally, Bank of America increased their price objective on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, KB Home presently has an average rating of “Hold” and a consensus target price of $77.50.

KB Home Stock Up 1.4 %

NYSE KBH opened at $81.10 on Monday. The stock has a market cap of $6.10 billion, a PE ratio of 10.73, a P/E/G ratio of 0.89 and a beta of 1.81. The business has a 50 day moving average price of $82.73 and a two-hundred day moving average price of $74.32. KB Home has a fifty-two week low of $42.11 and a fifty-two week high of $89.70.

KB Home (NYSE:KBH) last announced its 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). KB Home had a net margin of 9.43% and a return on equity of 15.66%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company posted $1.80 earnings per share. KB Home’s revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts anticipate that KB Home will post 8.38 EPS for the current fiscal year.

Institutional Investors Weigh In On KB Home

Hedge funds have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new position in shares of KB Home during the first quarter worth about $60,000. Plato Investment Management Ltd grew its position in KB Home by 72.0% in the 1st quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock worth $77,000 after purchasing an additional 452 shares during the last quarter. Tortoise Investment Management LLC increased its stake in shares of KB Home by 625.3% in the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock valued at $78,000 after purchasing an additional 963 shares during the period. Manchester Capital Management LLC increased its stake in shares of KB Home by 134.4% in the first quarter. Manchester Capital Management LLC now owns 1,137 shares of the construction company’s stock valued at $81,000 after purchasing an additional 652 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of KB Home during the first quarter valued at approximately $120,000. 96.09% of the stock is currently owned by 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.