KB Home (KBH) PT Set at $23.00 by Royal Bank of Canada

KB Home (NYSE:KBH) has been assigned a $23.00 price target by equities research analysts at Royal Bank of Canada in a note issued to investors on Thursday. The firm currently has a “hold” rating on the construction company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 21.12% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Barclays set a $27.00 price target on shares of KB Home and gave the stock a “hold” rating in a research note on Friday, September 14th. Wedbush increased their price target on shares of KB Home from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Wednesday, September 26th. Evercore ISI upgraded shares of KB Home from an “in-line” rating to an “outperform” rating in a research note on Thursday, October 25th. They noted that the move was a valuation call. BTIG Research decreased their price target on shares of KB Home to $18.00 and set a “sell” rating for the company in a research note on Thursday. Finally, Credit Suisse Group decreased their price target on shares of KB Home from $18.00 to $16.00 and set a “sell” rating for the company in a research note on Thursday. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.05.

Shares of NYSE KBH opened at $18.99 on Thursday. KB Home has a 12 month low of $16.82 and a 12 month high of $38.80. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 0.46 and a beta of 1.54.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, September 25th. The construction company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.10. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.27 billion. KB Home had a net margin of 3.43% and a return on equity of 13.96%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. On average, sell-side analysts predict that KB Home will post 2.73 earnings per share for the current fiscal year.

In related news, SVP William R. Hollinger sold 79,564 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $23.96, for a total transaction of $1,906,353.44. Following the sale, the senior vice president now directly owns 234,539 shares of the company’s stock, valued at approximately $5,619,554.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC grew its position in KB Home by 28.8% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 508,426 shares of the construction company’s stock valued at $12,156,000 after purchasing an additional 113,775 shares during the last quarter. Teachers Advisors LLC grew its position in KB Home by 7.4% during the 3rd quarter. Teachers Advisors LLC now owns 752,576 shares of the construction company’s stock valued at $17,994,000 after purchasing an additional 51,583 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in KB Home during the 3rd quarter valued at about $2,558,000. MetLife Investment Advisors LLC grew its position in KB Home by 22.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 111,026 shares of the construction company’s stock valued at $2,655,000 after purchasing an additional 20,170 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in KB Home by 12.4% during the 3rd quarter. Pacer Advisors Inc. now owns 30,028 shares of the construction company’s stock valued at $718,000 after purchasing an additional 3,313 shares during the last quarter. 82.89% of the stock is currently owned by institutional investors.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.

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Analyst Recommendations for KB Home (NYSE:KBH)

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