Hennessy Advisors Inc. Invests $44.12 Million in KB Home (NYSE:KBH)

Hennessy Advisors Inc. bought a new position in KB Home (NYSE:KBH) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 671,300 shares of the construction company’s stock, valued at approximately $44,118,000. KB Home comprises about 1.3% of Hennessy Advisors Inc.’s holdings, making the stock its 25th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new position in KB Home in the third quarter valued at $32,000. Riggs Asset Managment Co. Inc. purchased a new position in shares of KB Home in the 3rd quarter worth about $43,000. Versant Capital Management Inc lifted its stake in shares of KB Home by 275.7% in the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after purchasing an additional 557 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in KB Home during the 3rd quarter worth approximately $59,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of KB Home in the third quarter worth $61,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Stock Down 0.3 %

NYSE:KBH opened at $68.33 on Friday. KB Home has a 52-week low of $58.05 and a 52-week high of $89.70. The firm has a market cap of $5.01 billion, a P/E ratio of 8.76, a PEG ratio of 0.54 and a beta of 1.86. The business’s 50-day moving average price is $73.08 and its 200 day moving average price is $77.86.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company dropped their target price on KB Home from $74.00 to $65.00 and set an “underweight” rating on the stock in a report on Monday. Royal Bank of Canada raised shares of KB Home from an “underperform” rating to a “sector perform” rating and dropped their target price for the stock from $70.00 to $67.00 in a research report on Friday, January 10th. Evercore ISI raised their price objective on KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday. UBS Group cut their target price on shares of KB Home from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of KB Home from $85.00 to $76.00 and set a “market perform” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.79.

KB Home 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.