KB Home (NYSE: KBH) had its price target boosted by equities researchers at Royal Bank Of Canada from $16.00 to $17.00. With a rating of Sector Perform on the shares, KB Home has a 52-week high of $16.76. The one-year price target of $15.46 is higher than the opening price of $15.17, causing a number of other analysts to comment on the company in recent days.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Yesterday KB Home (NYSE: KBH) shares last traded at $15.23, which is a spike of $0.30 compared to the previous closing price. Opening at $15.17, they ranged from $15.00 and $15.59 throughout the day.
KB Home (NYSE: KBH) currently has a market cap of 1.28B.
The stock’s average daily volume is 2,327,400 shares out of a total float 72,578,000 and some 5,784,198 shares traded hands yesterday, higher than the average. Excessive volume aggregation by institutional investors may be in the near future as the combination of substantial expansions in trading volume and price appreciation can be determining factors.
As with all potential breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain teams of analysts researching thousands of stocks, so it is good corroboration to see them buying a stock you’re considering.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, KB Home (NYSE: KBH) now has a 50-day MA of $15.46 and 200-day MA of $14.62. It has traded in a 52-week range between $9.04 – 16.76 and today’s last price is 0.09% lower than the 52 week high of $16.76.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings by at least 25% for 3 consecutive years.
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