J P Morgan Chase & Co Reiterates “Underweight” Rating for KB Home (KBH)
KB Home (NYSE:KBH)‘s stock had its “underweight” rating restated by equities research analysts at J P Morgan Chase & Co in a research note issued to investors on Tuesday. They currently have a $27.00 price target on the construction company’s stock, up from their previous price target of $25.50. J P Morgan Chase & Co’s price objective indicates a potential downside of 12.65% from the stock’s previous close.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered KB Home from a “buy” rating to a “hold” rating in a research note on Monday, December 4th. Royal Bank of Canada reissued a “hold” rating and issued a $31.00 price target on shares of KB Home in a research note on Wednesday, November 15th. UBS initiated coverage on KB Home in a research note on Wednesday, October 25th. They issued a “sell” rating and a $24.00 price target on the stock. Wedbush downgraded KB Home from an “outperform” rating to a “neutral” rating in a report on Thursday, October 19th. Finally, MKM Partners restated a “neutral” rating and set a $26.00 price objective (up previously from $24.00) on shares of KB Home in a report on Monday, October 2nd. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $22.71.
KB Home (KBH) opened at $30.91 on Tuesday. KB Home has a 12 month low of $15.51 and a 12 month high of $31.95. The stock has a market capitalization of $2,654.69, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 0.72 and a beta of 1.69.
In related news, EVP Brian J. Woram sold 49,529 shares of the company’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $27.11, for a total transaction of $1,342,731.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Albert Z. Praw sold 150,000 shares of the company’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $25.85, for a total value of $3,877,500.00. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. AllSquare Wealth Management LLC bought a new stake in KB Home during the third quarter worth $113,000. Victory Capital Management Inc. boosted its position in KB Home by 17.6% in the second quarter. Victory Capital Management Inc. now owns 8,288 shares of the construction company’s stock worth $199,000 after purchasing an additional 1,241 shares during the last quarter. Yorktown Management & Research Co Inc purchased a new position in KB Home in the second quarter worth $201,000. Greenwood Capital Associates LLC purchased a new position in KB Home in the third quarter worth $207,000. Finally, Shelton Capital Management purchased a new position in KB Home in the second quarter worth $209,000. Institutional investors and hedge funds own 96.73% 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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