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

KB Home (NYSE:KBH) had its price objective decreased by analysts at Wells Fargo & Company from $70.00 to $65.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the construction company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 7.19% from the stock’s current price.

KBH has been the subject of a number of other reports. Barclays decreased their price objective on shares of KB Home from $85.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Royal Bank of Canada raised shares of KB Home from an “underperform” rating to a “sector perform” rating and reduced their price target for the stock from $70.00 to $67.00 in a research report on Friday, January 10th. Raymond James reaffirmed an “outperform” rating and set a $80.00 price target (down previously from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. Bank of America reduced their price target on shares of KB Home from $76.00 to $71.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. reduced their price target on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $76.21.

KB Home Trading Up 4.8 %

NYSE:KBH opened at $70.04 on Tuesday. The firm’s fifty day simple moving average is $71.60 and its 200 day simple moving average is $78.06. KB Home has a twelve month low of $58.15 and a twelve month high of $89.70. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 0.93 and a beta of 1.86.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the prior year, the company earned $1.85 EPS. The firm’s revenue was up 19.5% on a year-over-year basis. On average, analysts predict that KB Home will post 8.5 earnings per share for the current year.

Institutional Investors Weigh In On KB Home

Institutional investors and hedge funds have recently bought and sold shares of the business. Financial Management Professionals Inc. bought a new stake in KB Home during the third quarter worth approximately $32,000. Riggs Asset Managment Co. Inc. acquired a new position in KB Home in the 3rd quarter worth approximately $43,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of KB Home during the 3rd quarter valued at $59,000. Banque Cantonale Vaudoise acquired a new stake in shares of KB Home during the 3rd quarter valued at $61,000. Finally, Versant Capital Management Inc boosted its stake in shares of KB Home by 275.7% during the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after buying an additional 557 shares during the period. 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.