KB Home (NYSE:KBH) Price Target Increased to $77.00 by Analysts at Keefe, Bruyette & Woods

KB Home (NYSE:KBH) had its price objective raised by research analysts at Keefe, Bruyette & Woods from $67.00 to $77.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 10.71% from the stock’s previous close.

A number of other brokerages have also recently commented on KBH. Wells Fargo & Company upped their target price on shares of KB Home from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. Wedbush lifted their price objective on shares of KB Home from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. StockNews.com raised KB Home from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Raymond James raised their price objective on KB Home from $61.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Finally, Evercore ISI dropped their price objective on shares of KB Home from $82.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, KB Home has an average rating of “Hold” and a consensus target price of $66.11.

KB Home Stock Up 2.0 %

Shares of NYSE:KBH opened at $69.55 on Thursday. KB Home has a 52 week low of $38.26 and a 52 week high of $72.00. The company’s fifty day moving average is $64.11 and its 200 day moving average is $56.46. The stock has a market cap of $5.26 billion, a PE ratio of 9.46, a PEG ratio of 0.79 and a beta of 1.73.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.46 billion. During the same period last year, the company earned $1.45 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that KB Home will post 7.79 EPS for the current year.

Insider Activity

In other news, CEO Jeffrey T. Mezger sold 59,157 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $60.34, for a total value of $3,569,533.38. Following the sale, the chief executive officer now owns 1,491,298 shares of the company’s stock, valued at approximately $89,984,921.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jeffrey T. Mezger sold 59,157 shares of KB Home stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $60.34, for a total value of $3,569,533.38. Following the transaction, the chief executive officer now directly owns 1,491,298 shares in the company, valued at approximately $89,984,921.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO William R. Hollinger sold 45,471 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.47, for a total value of $2,749,631.37. Following the sale, the chief accounting officer now directly owns 109,981 shares in the company, valued at $6,650,551.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 373,635 shares of company stock valued at $22,400,005. Company insiders own 4.44% of the company’s stock.

Hedge Funds Weigh In On KB Home

Institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. acquired a new stake in shares of KB Home in the 2nd quarter valued at $26,000. Manchester Capital Management LLC raised its position in KB Home by 433.0% in the 4th quarter. Manchester Capital Management LLC now owns 485 shares of the construction company’s stock valued at $30,000 after purchasing an additional 394 shares during the last quarter. Bessemer Group Inc. bought a new position in KB Home in the 2nd quarter valued at $34,000. Lazard Asset Management LLC acquired a new stake in shares of KB Home in the first quarter valued at $40,000. Finally, Fifth Third Bancorp grew its holdings in KB Home by 40.9% during the 3rd quarter. Fifth Third Bancorp now owns 930 shares of the construction company’s stock worth $43,000 after acquiring an additional 270 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors.

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.