Zacks reissued their neutral rating on shares of KB Home (NYSE: KBH) in a research report sent to investors on Monday morning, Analyst Ratings.Net reports. The firm currently has a $21.00 price target on the stock.
Zacks’ analyst wrote, “KB Home’s second-quarter 2013 reported loss of $0.04 per share was narrower than the Zacks Consensus Estimate. Its adjusted earnings of $0.16 is a huge improvement over the year-ago adjusted loss of $0.31 per share, riding on higher homebuilding revenues, improved housing gross margins and reduced SG&A ratio. The company’s ongoing strategic initiative to divert land investments towards high-end housing markets drove higher revenues and profitability in the quarter. KB Home expects further profitability in 2013 on the back of its strong land position, significant financial flexibility, increased community count, rising ASPs and improving housing momentum. However, recent increases in mortgage rates and lack of overall economic recovery, which we believe will take time, keep us at the sidelines. We therefore have a Neutral recommendation on the stock, with target price $21.00.”
Several other analysts have also recently commented on the stock. Analysts at Sterne Agee raised their price target on shares of KB Home from $19.00 to $21.00 in a research note to investors on Friday, June 28th. They now have a neutral rating on the stock. Separately, analysts at RBC Capital cut their price target on shares of KB Home from $29.00 to $25.00 in a research note to investors on Friday, June 28th. They now have an outperform rating on the stock. Finally, analysts at UBS AG raised their EPS on shares of KB Home in a research note to investors on Friday, June 28th. They now have a sell rating and a $14.00 price target on the stock. They previously had a $11.00 price target on the stock.
Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. KB Home has an average rating of Hold and an average target price of $20.97.
KB Home (NYSE: KBH) opened at 18.87 on Monday. KB Home has a 1-year low of $9.04 and a 1-year high of $25.14. The stock’s 50-day moving average is currently $21.57. The company’s market cap is $1.578 billion.
KB Home is a builder of single-family residential homes, townhomes and condominiums. It constructs and sells homes homes through its operating divisions under the name KB Home.
To view Zacks’ full report, visit www.zacks.com