Wells Fargo & Company Lowers KB Home (NYSE:KBH) Price Target to $74.00

KB Home (NYSE:KBH - Get Free Report) had its price objective cut by analysts at Wells Fargo & Company from $83.00 to $74.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "underweight" rating on the construction company's stock. Wells Fargo & Company's target price would indicate a potential upside of 5.05% from the company's previous close.

Several other equities analysts also recently weighed in on KBH. JPMorgan Chase & Co. reduced their target price on shares of KB Home from $92.50 to $82.00 and set a "neutral" rating for the company in a research note on Friday. Wedbush boosted their target price on shares of KB Home from $67.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, September 25th. Bank of America raised their price target on KB Home from $75.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, September 19th. Royal Bank of Canada lowered KB Home from a "sector perform" rating to an "underperform" rating and set a $70.00 price objective on the stock. in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group raised their target price on KB Home from $72.00 to $82.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 3rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, KB Home currently has an average rating of "Hold" and an average price target of $79.17.

KB Home Price Performance

Shares of KB Home stock traded down $0.84 on Tuesday, reaching $70.44. 1,239,854 shares of the company traded hands, compared to its average volume of 1,203,391. The company has a 50 day moving average of $79.45 and a 200 day moving average of $78.53. KB Home has a 52 week low of $58.05 and a 52 week high of $89.70. The firm has a market capitalization of $5.17 billion, a PE ratio of 9.03, a PEG ratio of 0.59 and a beta of 1.81.

KB Home (NYSE:KBH - Get Free Report) last released its earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.06 by ($0.02). The firm had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.80 earnings per share. As a group, analysts anticipate that KB Home will post 8.42 earnings per share for the current year.

Insider Buying and Selling at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the business's stock in a transaction 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 sale, the chief financial officer now owns 34,473 shares in the company, valued at $2,737,156.20. The trade was a 44.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.44% of the company's stock.

Institutional Investors Weigh In On KB Home

Several large investors have recently made changes to their positions in the company. FMR LLC grew its holdings in KB Home by 47.9% during the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company's stock valued at $463,690,000 after buying an additional 1,752,498 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of KB Home in the third quarter valued at $89,899,000. LSV Asset Management increased its position in KB Home by 118.4% in the second quarter. LSV Asset Management now owns 1,056,400 shares of the construction company's stock worth $74,138,000 after purchasing an additional 572,800 shares during the last quarter. WINTON GROUP Ltd raised its stake in KB Home by 754.7% during the second quarter. WINTON GROUP Ltd now owns 206,789 shares of the construction company's stock valued at $14,512,000 after purchasing an additional 182,595 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in KB Home by 22.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company's stock valued at $77,655,000 after purchasing an additional 164,010 shares during the last quarter. 96.09% of the stock is owned by institutional investors.

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.