Royal Bank of Canada Boosts KB Home (NYSE:KBH) Price Target to $70.00

KB Home (NYSE:KBHFree Report) had its target price increased by Royal Bank of Canada from $69.00 to $70.00 in a research note published on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the construction company’s stock.

Several other research firms have also recently issued reports on KBH. Keefe, Bruyette & Woods raised their target price on KB Home from $74.00 to $77.00 and gave the stock a market perform rating in a research note on Thursday. Wells Fargo & Company raised their target price on KB Home from $65.00 to $70.00 and gave the stock an equal weight rating in a research note on Thursday, March 21st. Zelman & Associates reissued an underperform rating and issued a $69.00 target price on shares of KB Home in a research note on Monday, May 13th. JPMorgan Chase & Co. raised their target price on KB Home from $68.50 to $70.50 and gave the stock a neutral rating in a research note on Wednesday, March 27th. Finally, Wedbush raised their target price on KB Home from $64.00 to $67.00 and gave the stock a neutral rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $71.63.

Read Our Latest Report on KB Home

KB Home Trading Up 0.8 %

Shares of NYSE:KBH opened at $70.54 on Thursday. The stock’s 50-day moving average price is $68.25 and its 200-day moving average price is $65.09. KB Home has a 12-month low of $42.11 and a 12-month high of $74.65. The stock has a market capitalization of $5.36 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 0.78 and a beta of 1.77.

KB Home (NYSE:KBHGet Free Report) last announced its quarterly earnings data on Wednesday, March 20th. The construction company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.19. KB Home had a return on equity of 15.66% and a net margin of 9.43%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the firm earned $1.45 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts predict that KB Home will post 8.15 EPS for the current year.

KB Home Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.42%. This is a positive change from KB Home’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, May 8th. KB Home’s dividend payout ratio (DPR) is presently 13.23%.

Insider Activity

In other news, Director Thomas W. Gilligan sold 3,914 shares of KB Home stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $70.48, for a total transaction of $275,858.72. Following the completion of the transaction, the director now directly owns 48,217 shares in the company, valued at $3,398,334.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Albert Z. Praw sold 22,160 shares of KB Home stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $70.11, for a total transaction of $1,553,637.60. Following the completion of the transaction, the executive vice president now directly owns 135,512 shares in the company, valued at $9,500,746.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas W. Gilligan sold 3,914 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $70.48, for a total transaction of $275,858.72. Following the sale, the director now directly owns 48,217 shares of the company’s stock, valued at approximately $3,398,334.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,460 shares of company stock worth $4,384,468. Insiders own 4.44% of the company’s stock.

Institutional Investors Weigh In On KB Home

Several institutional investors and hedge funds have recently made changes to their positions in KBH. AQR Capital Management LLC increased its position in shares of KB Home by 93.9% during the third quarter. AQR Capital Management LLC now owns 2,526,838 shares of the construction company’s stock valued at $116,942,000 after acquiring an additional 1,223,612 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of KB Home by 225.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 895,313 shares of the construction company’s stock valued at $41,435,000 after acquiring an additional 620,238 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of KB Home by 2,728.9% during the first quarter. Wedge Capital Management L L P NC now owns 642,869 shares of the construction company’s stock valued at $45,567,000 after acquiring an additional 620,144 shares in the last quarter. Norges Bank bought a new stake in shares of KB Home during the fourth quarter valued at approximately $36,761,000. Finally, Invesco Ltd. increased its position in shares of KB Home by 26.1% during the third quarter. Invesco Ltd. now owns 1,546,880 shares of the construction company’s stock valued at $71,590,000 after acquiring an additional 320,554 shares in the last quarter. Institutional investors own 96.09% of the company’s stock.

KB Home Company Profile

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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.

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