KB Home (NYSE:KBH) Price Target Lowered to $58.00 at Bank of America

KB Home (NYSE:KBH) had its price objective cut by Bank of America from $62.00 to $58.00 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other equities research analysts also recently weighed in on KBH. Weiss Ratings reissued a “hold (c+)” rating on shares of KB Home in a research report on Wednesday, October 8th. Wells Fargo & Company reduced their price objective on KB Home from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Friday. JPMorgan Chase & Co. decreased their price objective on KB Home from $63.00 to $53.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Oppenheimer began coverage on KB Home in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Finally, Barclays cut their target price on KB Home from $71.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, KB Home has a consensus rating of “Hold” and an average price target of $63.73.

KB Home Price Performance

NYSE:KBH opened at $56.44 on Monday. KB Home has a one year low of $48.90 and a one year high of $72.64. The company has a fifty day moving average price of $62.10 and a 200 day moving average price of $60.14. The stock has a market cap of $3.66 billion, a P/E ratio of 10.24, a PEG ratio of 4.67 and a beta of 1.40.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Thursday, December 18th. The construction company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.13. KB Home had a net margin of 6.88% and a return on equity of 11.40%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the business posted $2.52 EPS. The business’s quarterly revenue was down 15.5% on a year-over-year basis. As a group, equities research analysts anticipate that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Thursday, November 13th. KB Home’s dividend payout ratio is 18.15%.

Insider Transactions at KB Home

In other KB Home news, EVP Albert Z. Praw sold 20,284 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $60.08, for a total transaction of $1,218,662.72. Following the completion of the transaction, the executive vice president directly owned 104,062 shares in the company, valued at $6,252,044.96. This represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On KB Home

Several large investors have recently made changes to their positions in the company. Fulcrum Asset Management LLP acquired a new stake in shares of KB Home during the 3rd quarter worth about $36,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in KB Home during the second quarter worth about $44,000. Jones Financial Companies Lllp raised its stake in shares of KB Home by 44.4% in the third quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company’s stock valued at $49,000 after acquiring an additional 240 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of KB Home by 2,848.4% in the 3rd quarter. SBI Securities Co. Ltd. now owns 914 shares of the construction company’s stock worth $58,000 after acquiring an additional 883 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in KB Home during the 2nd quarter worth approximately $59,000. Institutional investors own 96.09% of the company’s stock.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.