KB Home (NYSE:KBH) Upgraded by Royal Bank of Canada to Sector Perform Rating

Royal Bank of Canada upgraded shares of KB Home (NYSE:KBH) from an underperform rating to a sector perform rating in a research note issued to investors on Friday, Marketbeat.com reports. Royal Bank of Canada currently has $67.00 price target on the construction company’s stock, down from their previous price target of $70.00.

A number of other analysts have also recently weighed in on the stock. UBS Group dropped their target price on shares of KB Home from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company dropped their price objective on shares of KB Home from $83.00 to $74.00 and set an “underweight” rating on the stock in a research note on Tuesday, December 17th. Barclays downgraded KB Home from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $99.00 to $85.00 in a research note on Wednesday, December 11th. JPMorgan Chase & Co. cut their price target on KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Finally, Bank of America upped their price objective on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $80.00.

KB Home Trading Down 3.3 %

KBH stock opened at $63.18 on Friday. The stock’s 50 day simple moving average is $74.16 and its 200 day simple moving average is $77.92. KB Home has a 12-month low of $58.05 and a 12-month high of $89.70. The firm has a market cap of $4.63 billion, a P/E ratio of 8.10, a P/E/G ratio of 0.57 and a beta of 1.86.

Insiders Place Their Bets

In other news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were 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 approximately $2,737,156.20. This represents a 44.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.44% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Financial Management Professionals Inc. bought a new position in KB Home during the 3rd quarter valued at $32,000. Riggs Asset Managment Co. Inc. acquired a new stake in shares of KB Home in the third quarter valued at $43,000. Wilmington Savings Fund Society FSB bought a new position in KB Home during the third quarter valued at about $59,000. Banque Cantonale Vaudoise acquired a new position in KB Home during the third quarter worth about $61,000. Finally, Versant Capital Management Inc raised its position in KB Home by 275.7% in the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after acquiring an additional 557 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Company Profile

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.