Citizens Jmp Initiates Coverage on KB Home (NYSE:KBH)

Key Points

• Citizens Jmp initiated coverage on KB Home with a market outperform rating and a $77 price target, implying roughly a 44.7% upside from the prior close.
• Several major brokers recently cut targets or downgraded KBH (Raymond James, Barclays, JPMorgan, KBW), leaving a consensus rating of Hold and a consensus target of $64.
• KBH traded near $53.20 (up ~4%), has a market cap of $3.36B and a P/E of 10.84, and about 96% institutional ownership with notable recent inflows from State Street, Freestone Grove, Invesco and Norges Bank.

Research analysts at Citizens Jmp started coverage on shares of KB Home (NYSE:KBH - Get Free Report) in a research note issued to investors on Tuesday,Benzinga reports. The firm set a "market outperform" rating and a $77.00 price target on the construction company's stock. Citizens Jmp's price objective would suggest a potential upside of 44.73% from the company's previous close.

A number of other research firms have also recently weighed in on KBH. Raymond James Financial cut shares of KB Home from an "outperform" rating to a "market perform" rating in a research note on Wednesday, December 24th. Barclays decreased their price objective on KB Home from $71.00 to $62.00 and set an "overweight" rating on the stock in a report on Monday, December 22nd. JPMorgan Chase & Co. dropped their target price on KB Home from $71.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, December 29th. Weiss Ratings restated a "hold (c+)" rating on shares of KB Home in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods decreased their price target on KB Home from $67.00 to $62.00 and set a "market perform" rating on the stock in a research note on Tuesday, December 23rd. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, KB Home has an average rating of "Hold" and a consensus target price of $64.00.

KB Home Trading Up 4.0%

Shares of KBH stock opened at $53.20 on Tuesday. KB Home has a 52-week low of $48.90 and a 52-week high of $68.71. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 6.80 and a beta of 1.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.53 and a current ratio of 5.77. The firm has a fifty day moving average of $59.93 and a 200-day moving average of $61.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp increased its holdings in KB Home by 3.1% during the 2nd quarter. State Street Corp now owns 3,503,159 shares of the construction company's stock valued at $185,562,000 after purchasing an additional 106,926 shares in the last quarter. Freestone Grove Partners LP acquired a new position in KB Home in the third quarter worth $111,050,000. Invesco Ltd. grew its holdings in shares of KB Home by 1.4% during the third quarter. Invesco Ltd. now owns 1,400,892 shares of the construction company's stock worth $89,153,000 after purchasing an additional 19,330 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of KB Home by 13.1% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,054,280 shares of the construction company's stock worth $59,472,000 after purchasing an additional 122,457 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of KB Home in the second quarter valued at $55,329,000. 96.09% of the stock is owned by institutional investors and hedge funds.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation's largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.

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