KB Home (NYSE:KBH) Shares Gap Up to $60.92

KB Home (NYSE:KBH) shares gapped up prior to trading on Thursday . The stock had previously closed at $60.92, but opened at $62.82. KB Home shares last traded at $61.62, with a volume of 171,889 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KBH shares. Evercore ISI decreased their price objective on KB Home from $82.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, March 21st. Barclays boosted their target price on KB Home from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. The Goldman Sachs Group boosted their target price on KB Home from $61.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. Raymond James boosted their target price on KB Home from $61.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Finally, StockNews.com cut KB Home from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $66.11.

KB Home Stock Performance

The business has a fifty day simple moving average of $65.93 and a 200 day simple moving average of $58.40. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 0.70 and a beta of 1.73.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Wednesday, March 20th. The construction company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.19. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the firm posted $1.45 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts forecast that KB Home will post 8.01 earnings per share for the current fiscal year.

Insider Transactions at KB Home

In other news, CFO Jeff Kaminski sold 38,386 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total transaction of $2,554,972.16. Following the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,294,522.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Jeff Kaminski sold 38,386 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total transaction of $2,554,972.16. Following the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,294,522.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arthur Reginald Collins sold 5,500 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $60.12, for a total value of $330,660.00. Following the completion of the sale, the director now directly owns 9,098 shares in the company, valued at $546,971.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 412,021 shares of company stock valued at $24,954,977. 4.44% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KB Home

Several large investors have recently bought and sold shares of the company. Diversified Trust Co grew its stake in KB Home by 6.1% during the first quarter. Diversified Trust Co now owns 9,556 shares of the construction company’s stock worth $677,000 after purchasing an additional 550 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in KB Home by 19.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,989 shares of the construction company’s stock worth $1,629,000 after purchasing an additional 3,802 shares during the period. Wealthcare Advisory Partners LLC grew its stake in KB Home by 2.1% during the first quarter. Wealthcare Advisory Partners LLC now owns 11,029 shares of the construction company’s stock worth $782,000 after purchasing an additional 231 shares during the period. Miller Howard Investments Inc. NY acquired a new stake in KB Home during the first quarter worth approximately $422,000. Finally, FCF Advisors LLC grew its stake in KB Home by 102.9% in the first quarter. FCF Advisors LLC now owns 21,882 shares of the construction company’s stock valued at $1,551,000 after acquiring an additional 11,099 shares during the period. 96.09% of the stock is currently owned by institutional investors.

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.