Wells Fargo & Company Raises KB Home (NYSE:KBH) Price Target to $80.00

KB Home (NYSE:KBH) had its target price boosted by investment analysts at Wells Fargo & Company from $70.00 to $80.00 in a report released on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 0.95% from the stock’s previous close.

Other analysts have also issued research reports about the company. Evercore ISI increased their price target on KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, July 15th. The Goldman Sachs Group increased their price objective on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods upped their price objective on KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Zelman & Associates reiterated an “underperform” rating and issued a $69.00 target price on shares of KB Home in a report on Monday, May 13th. Finally, Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, KB Home presently has an average rating of “Hold” and a consensus price target of $73.71.

KB Home Stock Down 0.1 %

KBH traded down $0.10 during midday trading on Monday, reaching $79.25. The company had a trading volume of 69,684 shares, compared to its average volume of 1,259,670. KB Home has a 1 year low of $42.11 and a 1 year high of $88.31. The company has a market cap of $5.96 billion, a P/E ratio of 10.56, a P/E/G ratio of 0.80 and a beta of 1.81. The business has a 50-day moving average of $78.72 and a two-hundred day moving average of $71.78.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, June 18th. The construction company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.37. KB Home had a net margin of 9.43% and a return on equity of 15.66%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.64 billion. On average, equities research analysts predict that KB Home will post 8.38 EPS for the current year.

Institutional Investors Weigh In On KB Home

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC increased its stake in shares of KB Home by 433.0% during the fourth quarter. Manchester Capital Management LLC now owns 485 shares of the construction company’s stock worth $30,000 after purchasing an additional 394 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in KB Home during the first quarter worth $60,000. Plato Investment Management Ltd increased its holdings in shares of KB Home by 72.0% during the 1st quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock worth $77,000 after buying an additional 452 shares during the last quarter. Tortoise Investment Management LLC lifted its position in KB Home by 625.3% in the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock valued at $78,000 after buying an additional 963 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of KB Home in the first quarter valued at approximately $120,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

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.