Barclays Reaffirms “Buy” Rating for KB Home (NYSE:KBH)

KB Home (NYSE:KBH)‘s stock had its “buy” rating restated by investment analysts at Barclays in a research note issued on Sunday, AnalystRatings.com reports.

Several other brokerages also recently weighed in on KBH. Credit Suisse Group began coverage on shares of KB Home in a research note on Wednesday, May 27th. They issued an “outperform” rating and a $36.00 target price for the company. Raymond James lowered their target price on shares of KB Home from $42.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Monday, March 30th. ValuEngine downgraded shares of KB Home from a “sell” rating to a “strong sell” rating in a research note on Thursday. JPMorgan Chase & Co. downgraded shares of KB Home from a “neutral” rating to an “underweight” rating and set a $32.00 target price for the company. in a research note on Thursday, June 11th. Finally, Zacks Investment Research downgraded shares of KB Home from a “buy” rating to a “hold” rating and set a $36.00 target price for the company. in a research note on Tuesday, June 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. KB Home currently has an average rating of “Hold” and an average target price of $33.72.

KB Home stock traded down $0.80 during trading hours on Friday, reaching $28.58. The stock had a trading volume of 4,163,706 shares, compared to its average volume of 2,767,985. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 1.72 and a beta of 1.95. The business’s 50 day moving average price is $31.45 and its 200-day moving average price is $30.47. KB Home has a 52 week low of $9.82 and a 52 week high of $40.51.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Wednesday, June 24th. The construction company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. KB Home had a net margin of 6.43% and a return on equity of 12.82%. The firm had revenue of $913.97 million for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm earned $0.51 EPS. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. On average, equities analysts anticipate that KB Home will post 2.57 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors lifted its holdings in shares of KB Home by 51.7% during the first quarter. Capital World Investors now owns 3,210,519 shares of the construction company’s stock worth $58,110,000 after purchasing an additional 1,093,519 shares during the period. State Street Corp lifted its holdings in shares of KB Home by 0.3% during the first quarter. State Street Corp now owns 2,762,013 shares of the construction company’s stock worth $49,992,000 after purchasing an additional 8,970 shares during the period. AQR Capital Management LLC lifted its holdings in shares of KB Home by 52.5% during the first quarter. AQR Capital Management LLC now owns 2,624,768 shares of the construction company’s stock worth $47,403,000 after purchasing an additional 904,045 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of KB Home by 5.4% during the first quarter. Bank of New York Mellon Corp now owns 1,935,901 shares of the construction company’s stock worth $35,038,000 after purchasing an additional 98,961 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in shares of KB Home by 11.5% during the fourth quarter. Macquarie Group Ltd. now owns 1,791,864 shares of the construction company’s stock worth $61,407,000 after purchasing an additional 184,161 shares during the period. 89.52% of the stock is owned by hedge funds and other institutional investors.

About KB Home

KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company 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.

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