Goldman Sachs Maintains KB Home Buy Recommendation

06/07/2023

Fintel reports that on June 6, 2023, Goldman Sachs maintained coverage of KB Home (NYSE:KBH) with a Buy recommendation.

Analyst Price Forecast Suggests 1.56% Downside

As of June 1, 2023, the average one-year price target for KB Home is 45.25. The forecasts range from a low of 29.29 to a high of $58.80. The average price target represents a decrease of 1.56% from its latest reported closing price of 45.97.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for KB Home is 6,163MM, a decrease of 10.54%. The projected annual non-GAAP EPS is 7.00.

What is the Fund Sentiment?

There are 731 funds or institutions reporting positions in KB Home. This is an increase of 35 owner(s) or 5.03% in the last quarter. Average portfolio weight of all funds dedicated to KBH is 0.19%, an increase of 17.15%. Total shares owned by institutions increased in the last three months by 0.99% to 94,326K shares. The put/call ratio of KBH is 6.82, indicating a bearish outlook.

What are Other Shareholders Doing?

Macquarie Group holds 3,880K shares representing 4.70% ownership of the company. In it’s prior filing, the firm reported owning 3,973K shares, representing a decrease of 2.39%. The firm increased its portfolio allocation in KBH by 2.36% over the last quarter.

Alliancebernstein holds 3,477K shares representing 4.22% ownership of the company. In it’s prior filing, the firm reported owning 3,455K shares, representing an increase of 0.64%. The firm increased its portfolio allocation in KBH by 2.31% over the last quarter.

FCPVX – Fidelity Small Cap Value Fund holds 3,065K shares representing 3.72% ownership of the company. No change in the last quarter.

SMCWX – SMALLCAP WORLD FUND INC holds 2,958K shares representing 3.59% ownership of the company. No change in the last quarter.

Capital World Investors holds 2,958K shares representing 3.59% ownership of the company. No change in the last quarter.

KB Home Background Information
(This description is provided by the company.)

KB Home is one of the largest homebuilders in the United States, with more than 600,000 homes delivered since its founding in 1957. KB Home operates in 38 markets in eight states, primarily serving first-time and first move-up homebuyers, as well as second move-up and active adults. KB Home is differentiated in offering customers the ability to personalize what they value most in their home, from choosing their lot, floor plan, and exterior, to selecting design and décor choices in its KB Home Studios. In addition, its industry leadership in sustainability helps to lower the cost of homeownership for its buyers compared to a typical resale home. The company takes a broad approach to sustainability, encompassing energy efficiency, water conservation, healthier indoor environments, smart home capabilities and waste reduction. KB Home is the first national builder to have earned awards under all of the U.S. EPA’s homebuilder programs – ENERGY STAR®, WaterSense® and Indoor airPLUS®.

Key filings for this company:

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

This article originally appeared on Fintel

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