KB Home (NYSE:KBH) Short Interest Up 46.1% in April

KB Home (NYSE:KBHGet Rating) saw a large growth in short interest in April. As of April 15th, there was short interest totalling 5,420,000 shares, a growth of 46.1% from the March 31st total of 3,710,000 shares. Based on an average daily volume of 2,290,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 6.3% of the shares of the company are sold short.

Several hedge funds have recently added to or reduced their stakes in KBH. Morgan Stanley raised its position in shares of KB Home by 254.9% during the second quarter. Morgan Stanley now owns 548,339 shares of the construction company’s stock worth $22,328,000 after acquiring an additional 393,836 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of KB Home by 15.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 64,153 shares of the construction company’s stock worth $2,497,000 after acquiring an additional 8,468 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of KB Home by 46.3% during the third quarter. Commonwealth Equity Services LLC now owns 29,592 shares of the construction company’s stock worth $1,151,000 after acquiring an additional 9,367 shares during the last quarter. Raymond James & Associates raised its position in shares of KB Home by 19.1% during the third quarter. Raymond James & Associates now owns 249,313 shares of the construction company’s stock worth $9,703,000 after acquiring an additional 39,938 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of KB Home by 8.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 137,275 shares of the construction company’s stock worth $5,343,000 after acquiring an additional 10,387 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Several analysts have recently weighed in on the company. The Goldman Sachs Group decreased their price objective on KB Home from $55.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, April 12th. Barclays decreased their price objective on KB Home from $50.00 to $47.00 in a report on Thursday, March 31st. Zacks Investment Research lowered KB Home from a “buy” rating to a “hold” rating and set a $39.00 price objective on the stock. in a report on Wednesday, March 16th. StockNews.com started coverage on KB Home in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Wolfe Research lowered KB Home from an “outperform” rating to a “market perform” rating in a research note on Monday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, KB Home currently has an average rating of “Buy” and an average price target of $49.42.

KBH traded down $1.73 during trading on Friday, hitting $32.43. The company’s stock had a trading volume of 1,596,949 shares, compared to its average volume of 2,633,128. The firm’s 50 day moving average price is $35.14 and its two-hundred day moving average price is $39.57. KB Home has a 12 month low of $30.13 and a 12 month high of $52.48. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 5.00, a price-to-earnings-growth ratio of 0.34 and a beta of 1.71.

KB Home (NYSE:KBHGet Rating) last issued its quarterly earnings data on Wednesday, March 23rd. The construction company reported $1.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.56 by ($0.09). KB Home had a net margin of 10.06% and a return on equity of 20.40%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm posted $1.02 EPS. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, analysts predict that KB Home will post 10.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 19th. Stockholders of record on Thursday, May 5th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, May 4th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.85%. KB Home’s payout ratio is currently 9.26%.

About KB Home (Get Rating)

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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