KB Home (NYSE:KBH) Price Target Lowered to $82.00 at JPMorgan Chase & Co.

KB Home (NYSE:KBH) had its target price cut by analysts at JPMorgan Chase & Co. from $92.50 to $82.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 11.52% from the stock’s current price.

Several other brokerages also recently issued reports on KBH. Bank of America upped their price objective on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Wedbush increased their target price on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Wells Fargo & Company cut KB Home from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $80.00 to $83.00 in a report on Monday, October 7th. Royal Bank of Canada lowered shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective on the stock. in a report on Thursday, September 5th. Finally, Barclays lowered shares of KB Home from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $99.00 to $85.00 in a research report on Wednesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $79.92.

KB Home Trading Down 1.0 %

NYSE KBH opened at $73.53 on Friday. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 0.59 and a beta of 1.81. KB Home has a 12-month low of $54.94 and a 12-month high of $89.70. The business’s 50 day moving average is $80.04 and its two-hundred day moving average is $78.38.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business earned $1.80 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities analysts forecast that KB Home will post 8.42 earnings per share for the current fiscal year.

Insider Transactions at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,737,156.20. The trade was a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.44% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KBH. FMR LLC lifted its stake in KB Home by 47.9% during the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after purchasing an additional 1,752,498 shares during the last quarter. State Street Corp grew its position in shares of KB Home by 1.3% during the third quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock worth $303,285,000 after acquiring an additional 45,311 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of KB Home by 3.4% in the 3rd quarter. Fisher Asset Management LLC now owns 2,206,172 shares of the construction company’s stock worth $189,047,000 after acquiring an additional 73,051 shares during the period. Geode Capital Management LLC lifted its position in KB Home by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock valued at $166,125,000 after purchasing an additional 16,593 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in KB Home by 9.6% during the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock valued at $118,244,000 after purchasing an additional 147,326 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

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.