KB Home (NYSE:KBH) Price Target Cut to $57.00 by Analysts at Wells Fargo & Company

KB Home (NYSE:KBH - Get Free Report) had its price objective dropped by analysts at Wells Fargo & Company from $63.00 to $57.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "underweight" rating on the construction company's stock. Wells Fargo & Company's price objective would suggest a potential downside of 1.37% from the stock's previous close.

Several other equities analysts have also recently weighed in on KBH. Raymond James reaffirmed an "outperform" rating and set a $80.00 target price (down from $93.00) on shares of KB Home in a research note on Tuesday, January 21st. The Goldman Sachs Group cut their price objective on KB Home from $81.00 to $72.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Seaport Res Ptn raised KB Home from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Evercore ISI increased their price target on KB Home from $88.00 to $95.00 and gave the company an "outperform" rating in a research note on Tuesday, January 14th. Finally, Bank of America reduced their price objective on KB Home from $67.00 to $62.00 and set a "neutral" rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, KB Home presently has a consensus rating of "Hold" and an average price target of $71.21.

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KB Home Price Performance

Shares of KB Home stock traded down $1.42 during trading hours on Tuesday, hitting $57.79. The company's stock had a trading volume of 1,201,420 shares, compared to its average volume of 1,270,781. The company has a market cap of $4.13 billion, a PE ratio of 6.82, a PEG ratio of 0.90 and a beta of 1.89. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51. The business has a 50 day moving average price of $63.43 and a two-hundred day moving average price of $72.41. KB Home has a 12-month low of $56.41 and a 12-month high of $89.70.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings results on Monday, March 24th. The construction company reported $1.49 EPS for the quarter, missing analysts' consensus estimates of $1.56 by ($0.07). KB Home had a return on equity of 16.46% and a net margin of 9.45%. The business had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.51 billion. During the same period in the prior year, the firm posted $1.76 earnings per share. The firm's revenue for the quarter was down 5.2% on a year-over-year basis. Analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jeff Kaminski sold 27,500 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total value of $1,891,175.00. Following the completion of the sale, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.89% of the stock is owned by insiders.

Institutional Trading of KB Home

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of KB Home by 47.9% during the third 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 during the period. Holocene Advisors LP bought a new stake in shares of KB Home during the 3rd quarter worth approximately $89,899,000. Norges Bank purchased a new position in KB Home during the 4th quarter valued at $49,638,000. Hennessy Advisors Inc. bought a new position in KB Home in the 4th quarter valued at $44,118,000. Finally, Two Sigma Advisers LP grew its position in KB Home by 4,408.6% in the 4th quarter. Two Sigma Advisers LP now owns 523,000 shares of the construction company's stock valued at $34,372,000 after acquiring an additional 511,400 shares during the last quarter. 96.09% of the stock is 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.