KB Home (NYSE:KBH) Price Target Lowered to $62.00 at Bank of America

KB Home (NYSE:KBH) had its price objective cut by Bank of America from $67.00 to $62.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Several other equities analysts have also commented on the stock. The Goldman Sachs Group lowered their price objective on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Raymond James reaffirmed an “outperform” rating and issued a $80.00 price target (down previously from $93.00) on shares of KB Home in a report on Tuesday, January 21st. Evercore ISI boosted their price objective on KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 14th. UBS Group lowered their price objective on KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Barclays cut their target price on KB Home from $85.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $71.21.

KB Home Trading Up 0.3 %

Shares of KBH stock opened at $59.29 on Tuesday. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. KB Home has a 12-month low of $56.41 and a 12-month high of $89.70. The stock’s 50-day moving average price is $63.63 and its 200-day moving average price is $72.62.

KB Home (NYSE:KBH) last released its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.51 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.76 EPS. Equities research analysts predict that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, February 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.69%. KB Home’s dividend payout ratio (DPR) is 12.20%.

Insider Activity

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the completion of the sale, the chief financial officer now owns 34,473 shares in the company, valued at $2,370,708.21. This trade represents a 44.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.89% of the company’s stock.

Hedge Funds Weigh In On KB Home

A number of institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its holdings in shares of KB Home by 65.6% in the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock valued at $36,000 after purchasing an additional 214 shares during the period. Principal Securities Inc. raised its position in KB Home by 43.6% during the 4th quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock valued at $39,000 after purchasing an additional 179 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of KB Home by 275.7% in the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after buying an additional 557 shares during the period. Amundi grew its position in shares of KB Home by 29.6% during the 4th quarter. Amundi now owns 880 shares of the construction company’s stock worth $58,000 after buying an additional 201 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of KB Home during the third quarter valued at $59,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

About KB Home

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.