KB Home’s (KBH) Neutral Rating Reiterated at Buckingham Research
Buckingham Research restated their neutral rating on shares of KB Home (NYSE:KBH) in a research note issued to investors on Friday morning. The firm currently has a $22.00 price objective on the construction company’s stock, up from their prior price objective of $21.00.
KBH has been the subject of a number of other research reports. BidaskClub lowered KB Home from a strong-buy rating to a buy rating in a research note on Friday, August 11th. KeyCorp reissued a hold rating on shares of KB Home in a report on Tuesday, September 26th. Mizuho downgraded KB Home from a neutral rating to an underperform rating and set a $21.00 price objective on the stock. in a research report on Monday, July 10th. Credit Suisse Group boosted their price objective on KB Home from $24.00 to $25.00 and gave the company a neutral rating in a research report on Friday. Finally, Deutsche Bank AG upped their price objective on KB Home from $20.00 to $23.00 and gave the stock a hold rating in a research note on Friday, June 30th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $21.60.
Shares of KB Home (NYSE:KBH) opened at 24.70 on Friday. The firm has a 50-day moving average of $21.84 and a 200 day moving average of $21.68. KB Home has a 1-year low of $14.06 and a 1-year high of $24.79. The stock has a market capitalization of $2.12 billion, a PE ratio of 17.66 and a beta of 1.53.
KB Home (NYSE:KBH) last released its quarterly earnings results on Thursday, September 28th. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. KB Home had a return on equity of 7.57% and a net margin of 3.22%. KB Home’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 earnings per share. Analysts predict that KB Home will post $1.73 EPS for the current year.
In related news, SVP William R. Hollinger sold 57,405 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $23.19, for a total value of $1,331,221.95. Following the completion of the transaction, the senior vice president now owns 214,306 shares of the company’s stock, valued at approximately $4,969,756.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey T. Mezger sold 400,000 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $22.81, for a total transaction of $9,124,000.00. Following the completion of the transaction, the insider now directly owns 682,996 shares of the company’s stock, valued at approximately $15,579,138.76. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its stake in KB Home by 1,401.0% during the first quarter. Russell Investments Group Ltd. now owns 79,900 shares of the construction company’s stock worth $1,588,000 after acquiring an additional 74,577 shares during the last quarter. Great West Life Assurance Co. Can raised its position in KB Home by 4.5% during the first quarter. Great West Life Assurance Co. Can now owns 48,962 shares of the construction company’s stock valued at $973,000 after purchasing an additional 2,093 shares during the period. First Trust Advisors LP raised its position in KB Home by 39.1% during the first quarter. First Trust Advisors LP now owns 151,290 shares of the construction company’s stock valued at $3,008,000 after purchasing an additional 42,540 shares during the period. Comerica Bank raised its position in KB Home by 4.6% during the first quarter. Comerica Bank now owns 63,963 shares of the construction company’s stock valued at $1,352,000 after purchasing an additional 2,814 shares during the period. Finally, Swiss National Bank raised its position in KB Home by 1.7% during the first quarter. Swiss National Bank now owns 125,700 shares of the construction company’s stock valued at $2,499,000 after purchasing an additional 2,100 shares during the period. Institutional investors own 98.37% of the company’s stock.
About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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