KB Home (NYSE:KBH) Shares Cross Above 200-Day Moving Average – What’s Next?

KB Home (NYSE:KBH) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $60.96 and traded as high as $62.84. KB Home shares last traded at $61.3220, with a volume of 1,281,372 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KBH. JPMorgan Chase & Co. reduced their target price on KB Home from $71.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, December 29th. Bank of America reduced their price objective on KB Home from $62.00 to $58.00 and set a “neutral” rating on the stock in a research note on Monday, December 22nd. Raymond James Financial downgraded shares of KB Home from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 24th. Wells Fargo & Company reduced their price target on shares of KB Home from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Friday, December 19th. Finally, Evercore ISI set a $65.00 price objective on shares of KB Home and gave the stock an “in-line” rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $62.73.

KB Home Stock Performance

The company has a market capitalization of $3.92 billion, a PE ratio of 12.33, a PEG ratio of 8.13 and a beta of 1.43. The company has a 50 day moving average price of $60.76 and a 200 day moving average price of $61.00.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Thursday, December 18th. The construction company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.13. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. KB Home had a net margin of 6.88% and a return on equity of 11.40%. The firm’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.52 earnings per share. On average, equities analysts forecast that KB Home will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other KB Home news, EVP Albert Z. Praw sold 20,284 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $60.08, for a total transaction of $1,218,662.72. Following the sale, the executive vice president owned 104,062 shares in the company, valued at $6,252,044.96. This represents a 16.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KB Home

Several large investors have recently added to or reduced their stakes in KBH. Fulcrum Asset Management LLP bought a new position in shares of KB Home during the third quarter valued at approximately $36,000. Jones Financial Companies Lllp boosted its position in shares of KB Home by 44.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company’s stock valued at $49,000 after purchasing an additional 240 shares in the last quarter. Aventura Private Wealth LLC acquired a new position in KB Home in the fourth quarter worth approximately $46,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of KB Home during the second quarter worth $44,000. Finally, SBI Securities Co. Ltd. lifted its stake in KB Home by 2,848.4% during the third quarter. SBI Securities Co. Ltd. now owns 914 shares of the construction company’s stock valued at $58,000 after buying an additional 883 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors.

About KB Home

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.