Barclays Lowers KB Home (NYSE:KBH) Price Target to $60.00

KB Home (NYSE:KBH - Free Report) had its price target lowered by Barclays from $85.00 to $60.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the construction company's stock.

Several other research firms have also issued reports on KBH. Royal Bank of Canada raised shares of KB Home from an "underperform" rating to a "sector perform" rating and lowered their price target for the company from $70.00 to $67.00 in a research report on Friday. JPMorgan Chase & Co. dropped their target price on KB Home from $92.50 to $82.00 and set a "neutral" rating on the stock in a research report on Friday, December 13th. Wedbush lifted their price target on KB Home from $67.00 to $75.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Wells Fargo & Company decreased their price objective on KB Home from $74.00 to $65.00 and set an "underweight" rating on the stock in a research note on Monday. Finally, Bank of America cut their target price on KB Home from $80.00 to $76.00 and set a "neutral" rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, KB Home currently has a consensus rating of "Hold" and an average price target of $76.50.

KB Home Price Performance

Shares of NYSE KBH traded up $3.28 during midday trading on Tuesday, reaching $67.36. The company's stock had a trading volume of 5,895,204 shares, compared to its average volume of 1,921,932. The stock has a market capitalization of $4.94 billion, a P/E ratio of 8.64, a PEG ratio of 0.57 and a beta of 1.86. The firm has a 50 day moving average price of $73.56 and a 200-day moving average price of $77.99. KB Home has a 12-month low of $58.05 and a 12-month high of $89.70.

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

Hedge Funds Weigh In On KB Home

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC lifted its position in KB Home by 24.5% in the 3rd quarter. Barclays PLC now owns 196,229 shares of the construction company's stock worth $16,816,000 after buying an additional 38,638 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 worth $77,655,000 after acquiring an additional 164,010 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of KB Home in the 3rd quarter worth approximately $956,000. Cerity Partners LLC boosted its stake in shares of KB Home by 24.7% in the 3rd quarter. Cerity Partners LLC now owns 38,742 shares of the construction company's stock valued at $3,320,000 after purchasing an additional 7,679 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in shares of KB Home by 62.1% during the 3rd quarter. Citigroup Inc. now owns 107,051 shares of the construction company's stock valued at $9,173,000 after purchasing an additional 40,992 shares during the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

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.