KB Home (NYSE:KBH – Get Rating) shares gapped down before the market opened on Thursday after UBS Group lowered their price target on the stock from $48.00 to $45.00. The stock had previously closed at $35.94, but opened at $34.80. KB Home shares last traded at $34.29, with a volume of 32,245 shares changing hands.
A number of other research firms have also commented on KBH. StockNews.com started coverage on shares of KB Home in a research report on Wednesday, October 12th. They set a “hold” rating for the company. KeyCorp raised shares of KB Home from an “underweight” rating to a “sector weight” rating in a report on Monday, September 19th. JPMorgan Chase & Co. lifted their price objective on shares of KB Home from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, November 22nd. Evercore ISI dropped their price objective on shares of KB Home from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, September 22nd. Finally, Raymond James downgraded shares of KB Home from a “strong-buy” rating to a “market perform” rating in a report on Friday, October 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, KB Home has an average rating of “Moderate Buy” and an average price target of $38.77.
Insiders Place Their Bets
In other KB Home news, EVP Albert Z. Praw sold 29,777 shares of the business’s stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $28.77, for a total value of $856,684.29. Following the transaction, the executive vice president now owns 143,363 shares in the company, valued at $4,124,553.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.90% of the stock is currently owned by insiders.
Hedge Funds Weigh In On KB Home
Hedge funds have recently modified their holdings of the company. Aptus Capital Advisors LLC increased its position in shares of KB Home by 88.6% in the second quarter. Aptus Capital Advisors LLC now owns 117,336 shares of the construction company’s stock valued at $3,339,000 after acquiring an additional 55,117 shares during the period. Cobalt Capital Management Inc. increased its position in shares of KB Home by 7.4% during the second quarter. Cobalt Capital Management Inc. now owns 300,000 shares of the construction company’s stock valued at $8,538,000 after buying an additional 20,800 shares during the period. Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of KB Home during the second quarter valued at about $228,000. Xponance Inc. increased its position in shares of KB Home by 7.0% during the second quarter. Xponance Inc. now owns 13,109 shares of the construction company’s stock valued at $373,000 after buying an additional 855 shares during the period. Finally, Coldstream Capital Management Inc. purchased a new position in shares of KB Home during the second quarter valued at about $1,197,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.
KB Home Stock Down 3.9 %
The firm’s 50-day moving average is $31.36 and its 200-day moving average is $30.12. The company has a market cap of $2.96 billion, a PE ratio of 4.20, a PEG ratio of 0.78 and a beta of 1.53.
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.