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.
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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