KB Home (NYSE:KBH) Price Target Raised to $67.00 at Bank of America

KB Home (NYSE:KBH) had its price target increased by Bank of America from $60.00 to $67.00 in a report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

Several other equities research analysts also recently weighed in on the company. Zacks Research raised KB Home from a “strong sell” rating to a “hold” rating in a report on Friday, September 5th. Oppenheimer assumed coverage on KB Home in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods decreased their price objective on KB Home from $65.00 to $58.00 and set a “market perform” rating for the company in a report on Thursday, June 26th. Barclays set a $49.00 price objective on KB Home and gave the company an “equal weight” rating in a report on Tuesday, June 24th. Finally, Evercore ISI decreased their price objective on KB Home from $77.00 to $70.00 and set an “outperform” rating for the company in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $68.05.

KB Home Stock Performance

Shares of KB Home stock opened at $64.98 on Thursday. The firm has a market capitalization of $4.42 billion, a P/E ratio of 8.61, a P/E/G ratio of 5.29 and a beta of 1.36. KB Home has a 52 week low of $48.90 and a 52 week high of $89.70. The company has a quick ratio of 0.60, a current ratio of 5.83 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $60.93 and its two-hundred day moving average is $56.95.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Monday, June 23rd. The construction company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.05. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. KB Home had a return on equity of 14.02% and a net margin of 8.47%.The company’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.15 earnings per share. Research analysts forecast 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, August 21st. Shareholders of record on Thursday, August 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. KB Home’s dividend payout ratio (DPR) is 13.25%.

Insider Buying and Selling

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the firm’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $53.52, for a total value of $749,280.00. Following the completion of the sale, the chief operating officer owned 78,345 shares of the company’s stock, valued at approximately $4,193,024.40. This trade represents a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.89% of the company’s stock.

Institutional Investors Weigh In On KB Home

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. raised its stake in shares of KB Home by 73.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company’s stock worth $35,000 after buying an additional 258 shares during the last quarter. Sachetta LLC raised its stake in shares of KB Home by 3,142.9% during the 1st quarter. Sachetta LLC now owns 681 shares of the construction company’s stock worth $40,000 after buying an additional 660 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of KB Home during the 1st quarter worth $40,000. Byrne Asset Management LLC raised its stake in shares of KB Home by 51.8% during the 1st quarter. Byrne Asset Management LLC now owns 774 shares of the construction company’s stock worth $45,000 after buying an additional 264 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of KB Home during the 2nd quarter worth $44,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

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.