#3 - KB Home (NYSE:KBH)
Another homebuilder stock to consider as mortgage rates decline is KB Home (NYSE: KBH). The company is the sixth-largest homebuilder in the United States and operates in four major markets broadly listed as West Coast, Southwest, Central, and Southeast. Its Built-to-Order approach enables a more personalized experience, which provides a competitive advantage and higher revenues.
As of August 12, 2024, KBH stock is trading near its 52-week high with a consensus rating of Hold. That could lead investors to believe the growth is priced in. In the company’s second-quarter earnings report in June, it beat on the top and bottom lines, but revenue came in lighter YOY. That initially dragged KBH stock down about 5%, but the stock has since rallied and is up more than 14% in the three months ending April 12, 2024.
The KB Home analysts tracked by MarketBeat are forecasting a higher price target for KBH stock, with Evercore being the most bullish with an $89 price target.
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.
Read More - Current Price
- $87.22
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 6 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $74.96 (14.1% Downside)
