UBS Group Has Lowered Expectations for KB Home (NYSE:KBH) Stock Price

KB Home (NYSE:KBH) had its target price decreased by UBS Group from $105.00 to $100.00 in a research note released on Wednesday morning,Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

A number of other research analysts also recently weighed in on KBH. Bank of America raised their price target on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. cut their price objective on KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Wedbush raised their price objective on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Barclays cut KB Home from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $99.00 to $85.00 in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company cut their price objective on KB Home from $83.00 to $74.00 and set an “underweight” rating for the company in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $80.25.

KB Home Stock Up 1.2 %

KBH stock opened at $65.23 on Wednesday. The business has a 50 day moving average price of $74.72 and a two-hundred day moving average price of $78.07. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 8.36, a P/E/G ratio of 0.57 and a beta of 1.86. KB Home has a twelve month low of $58.05 and a twelve month high of $89.70.

Insider Buying and Selling

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction on Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,737,156.20. The trade was a 44.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KB Home

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in KB Home by 47.9% in the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock valued at $463,690,000 after acquiring an additional 1,752,498 shares in the last quarter. State Street Corp increased its stake in shares of KB Home by 1.3% in the 3rd quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock valued at $303,285,000 after purchasing an additional 45,311 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of KB Home by 3.4% in the 3rd quarter. Fisher Asset Management LLC now owns 2,206,172 shares of the construction company’s stock valued at $189,047,000 after purchasing an additional 73,051 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of KB Home by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock valued at $166,125,000 after purchasing an additional 16,593 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of KB Home by 9.6% in the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock valued at $118,244,000 after purchasing an additional 147,326 shares during the last quarter. 96.09% of the stock is owned by institutional investors and hedge funds.

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.