Hennessy Advisors Inc. Purchases New Position in KB Home (NYSE:KBH)

Hennessy Advisors Inc. bought a new stake in shares of KB Home (NYSE:KBH - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 671,300 shares of the construction company's stock, valued at approximately $44,118,000. KB Home accounts for approximately 1.3% of Hennessy Advisors Inc.'s portfolio, making the stock its 25th largest holding. Hennessy Advisors Inc. owned 0.92% of KB Home at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Financial Management Professionals Inc. acquired a new stake in shares of KB Home in the 3rd quarter valued at about $32,000. Riggs Asset Managment Co. Inc. acquired a new position in shares of KB Home during the third quarter worth approximately $43,000. Wilmington Savings Fund Society FSB bought a new position in shares of KB Home in the 3rd quarter worth $59,000. Banque Cantonale Vaudoise acquired a new stake in KB Home in the 3rd quarter valued at $61,000. Finally, Versant Capital Management Inc increased its stake in KB Home by 275.7% during the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company's stock valued at $50,000 after purchasing an additional 557 shares in the last quarter. 96.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

KBH has been the subject of several recent research reports. Evercore ISI boosted their target price on shares of KB Home from $88.00 to $95.00 and gave the stock an "outperform" rating in a research report on Tuesday. Royal Bank of Canada raised KB Home from an "underperform" rating to a "sector perform" rating and decreased their price objective for the stock from $70.00 to $67.00 in a report on Friday, January 10th. Seaport Res Ptn raised KB Home from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Wells Fargo & Company cut their target price on KB Home from $74.00 to $65.00 and set an "underweight" rating on the stock in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods lowered their price target on KB Home from $85.00 to $76.00 and set a "market perform" rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, KB Home presently has a consensus rating of "Hold" and a consensus target price of $75.79.

KB Home Stock Performance

KBH traded down $0.26 during midday trading on Friday, reaching $67.99. The company had a trading volume of 1,380,495 shares, compared to its average volume of 952,316. KB Home has a 12-month low of $58.05 and a 12-month high of $89.70. The business has a 50-day moving average price of $72.80 and a two-hundred day moving average price of $77.94. The stock has a market cap of $4.99 billion, a PE ratio of 8.72, a P/E/G ratio of 0.54 and a beta of 1.86.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings data on Monday, January 13th. The construction company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.44 by $0.08. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the business earned $1.85 earnings per share. KB Home's revenue for the quarter was up 19.5% on a year-over-year basis. On average, research analysts anticipate that KB Home will post 8.42 earnings per share for the current year.

KB Home 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.