KB Home (NYSE:KBH) Shares Gap Up to $60.92

KB Home (NYSE:KBH - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $60.92, but opened at $62.82. KB Home shares last traded at $61.62, with a volume of 171,889 shares.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company upped their target price on KB Home from $65.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, March 21st. UBS Group upped their target price on KB Home from $82.00 to $87.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. The Goldman Sachs Group upped their target price on KB Home from $61.00 to $70.00 and gave the stock a "neutral" rating in a report on Friday, March 22nd. Keefe, Bruyette & Woods upped their target price on KB Home from $67.00 to $77.00 and gave the stock a "market perform" rating in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. increased their price objective on KB Home from $68.50 to $70.50 and gave the company a "neutral" rating in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $66.11.

KB Home Trading Down 0.8 %

The firm has a 50-day moving average of $65.92 and a 200-day moving average of $58.42. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 0.70 and a beta of 1.73.

KB Home (NYSE:KBH - Get Free Report) last released its earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.19. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm earned $1.45 EPS. The firm's revenue was up 6.5% on a year-over-year basis. On average, equities research analysts anticipate that KB Home will post 8.01 EPS for the current year.

Insider Activity at KB Home

In related news, CFO Jeff Kaminski sold 38,386 shares of the company's stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total value of $2,554,972.16. Following the transaction, the chief financial officer now directly owns 34,473 shares of the company's stock, valued at approximately $2,294,522.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other KB Home news, Director Arthur Reginald Collins sold 5,500 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $60.12, for a total transaction of $330,660.00. Following the sale, the director now directly owns 9,098 shares of the company's stock, valued at approximately $546,971.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeff Kaminski sold 38,386 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total value of $2,554,972.16. Following the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,294,522.88. The disclosure for this sale can be found here. Insiders have sold a total of 412,021 shares of company stock valued at $24,954,977 in the last ninety days. Company insiders own 4.44% of the company's stock.

Institutional Investors Weigh In On KB Home

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbour Investments Inc. acquired a new stake in KB Home during the 2nd quarter worth about $26,000. Manchester Capital Management LLC grew its position in shares of KB Home by 433.0% during the 4th quarter. Manchester Capital Management LLC now owns 485 shares of the construction company's stock valued at $30,000 after acquiring an additional 394 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of KB Home during the 1st quarter valued at about $40,000. Fifth Third Bancorp grew its position in shares of KB Home by 40.9% during the 3rd quarter. Fifth Third Bancorp now owns 930 shares of the construction company's stock valued at $43,000 after acquiring an additional 270 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of KB Home during the 4th quarter valued at about $47,000. 96.09% of the stock is 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.