KB Home (NYSE:KBH) Given New $54.00 Price Target at Bank of America

KB Home (NYSE:KBH - Get Free Report) had its price target reduced by stock analysts at Bank of America from $58.00 to $54.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the construction company's stock. Bank of America's price objective suggests a potential upside of 1.09% from the company's previous close.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company reduced their price objective on KB Home from $55.00 to $53.00 and set an "underweight" rating for the company in a report on Tuesday, June 3rd. The Goldman Sachs Group cut their price target on KB Home from $81.00 to $72.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. UBS Group lowered their price objective on shares of KB Home from $97.00 to $86.00 and set a "buy" rating on the stock in a research note on Tuesday, March 25th. Barclays dropped their target price on shares of KB Home from $60.00 to $56.00 and set an "equal weight" rating for the company in a report on Tuesday, March 25th. Finally, Seaport Res Ptn raised shares of KB Home from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $70.32.

KB Home Stock Up 3.2%

KBH stock opened at $53.42 on Tuesday. The company has a current ratio of 6.01, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44. The company's 50-day moving average price is $52.87 and its 200 day moving average price is $59.84. KB Home has a 52 week low of $48.90 and a 52 week high of $89.70. The company has a market cap of $3.83 billion, a P/E ratio of 6.51, a P/E/G ratio of 3.87 and a beta of 1.35.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.05. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. KB Home had a net margin of 9.13% and a return on equity of 15.52%. The company's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the firm earned $2.15 EPS. On average, research analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Arthur Reginald Collins sold 5,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $54.38, for a total transaction of $271,900.00. Following the sale, the director now owns 10,262 shares in the company, valued at $558,047.56. This trade represents a 32.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KB Home

Institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its holdings in KB Home by 2.4% in the 4th quarter. Invesco Ltd. now owns 2,396,967 shares of the construction company's stock valued at $157,529,000 after buying an additional 56,142 shares during the period. Fisher Asset Management LLC boosted its position in shares of KB Home by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company's stock worth $149,928,000 after acquiring an additional 75,143 shares during the last quarter. First Trust Advisors LP grew its holdings in KB Home by 61.2% in the fourth quarter. First Trust Advisors LP now owns 1,327,809 shares of the construction company's stock valued at $87,264,000 after purchasing an additional 503,895 shares during the period. LSV Asset Management grew its holdings in KB Home by 3.0% in the fourth quarter. LSV Asset Management now owns 1,137,900 shares of the construction company's stock valued at $74,783,000 after purchasing an additional 33,500 shares during the period. Finally, Northern Trust Corp increased its position in KB Home by 7.3% during the fourth quarter. Northern Trust Corp now owns 1,101,300 shares of the construction company's stock worth $72,377,000 after purchasing an additional 75,206 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

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.

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