KB Home (KBH) Downgraded to Underperform at Buckingham Research
Buckingham Research cut shares of KB Home (NYSE:KBH) from a neutral rating to an underperform rating in a report released on Friday, MarketBeat.com reports. The firm currently has $34.00 target price on the construction company’s stock, up from their prior target price of $28.00. The analysts noted that the move was a valuation call.
A number of other research firms have also recently commented on KBH. Wedbush cut KB Home from an outperform rating to a neutral rating in a research note on Thursday, October 19th. Keefe, Bruyette & Woods restated a hold rating and set a $24.00 price target on shares of KB Home in a research note on Friday, September 29th. MKM Partners restated a neutral rating and set a $26.00 price target (up from $24.00) on shares of KB Home in a research note on Monday, October 2nd. JPMorgan Chase & Co. restated an underweight rating and set a $27.00 price target (up from $25.50) on shares of KB Home in a research note on Tuesday, December 19th. Finally, Zacks Investment Research upgraded KB Home from a hold rating to a strong-buy rating and set a $39.00 price target on the stock in a research note on Tuesday, January 9th. Seven analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $27.27.
KB Home (NYSE:KBH) traded down $1.60 on Friday, reaching $36.98. The company had a trading volume of 4,995,000 shares, compared to its average volume of 4,033,578. KB Home has a 12-month low of $15.88 and a 12-month high of $38.80. The firm has a market capitalization of $3,200.00, a PE ratio of 26.60, a PEG ratio of 1.03 and a beta of 1.69. The company has a quick ratio of 1.22, a current ratio of 5.36 and a debt-to-equity ratio of 1.21.
Hedge funds and other institutional investors have recently made changes to their positions in the company. AllSquare Wealth Management LLC acquired a new stake in shares of KB Home in the third quarter valued at $113,000. Victory Capital Management Inc. raised its stake in shares of KB Home by 17.6% in the second quarter. Victory Capital Management Inc. now owns 8,288 shares of the construction company’s stock valued at $199,000 after acquiring an additional 1,241 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new stake in shares of KB Home in the second quarter valued at $201,000. Greenwood Capital Associates LLC acquired a new stake in shares of KB Home in the third quarter valued at $207,000. Finally, Shelton Capital Management acquired a new stake in shares of KB Home in the second quarter valued at $209,000. Institutional investors and hedge funds own 96.73% of the company’s stock.
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KB Home Company Profile
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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