KB Home (NYSE:KBH) Price Target Cut to $65.00 by Analysts at Wells Fargo & Company

KB Home (NYSE:KBH) had its price objective decreased by Wells Fargo & Company from $70.00 to $65.00 in a research report report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the construction company’s stock.

Other equities research analysts also recently issued research reports about the company. Seaport Res Ptn raised KB Home from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th. Evercore ISI lifted their target price on KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods dropped their target price on KB Home from $85.00 to $76.00 and set a “market perform” rating for the company in a report on Friday, January 17th. Royal Bank of Canada raised KB Home from an “underperform” rating to a “sector perform” rating and dropped their target price for the stock from $70.00 to $67.00 in a report on Friday, January 10th. Finally, Barclays dropped their target price on KB Home from $85.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.21.

KB Home Price Performance

Shares of KB Home stock opened at $68.36 on Tuesday. The business has a fifty day simple moving average of $71.45 and a two-hundred day simple moving average of $78.04. KB Home has a 1 year low of $58.15 and a 1 year high of $89.70. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of 0.93 and a beta of 1.86.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.08. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the firm posted $1.85 EPS. The company’s quarterly revenue was up 19.5% on a year-over-year basis. As a group, equities analysts anticipate that KB Home will post 8.5 earnings per share for the current fiscal year.

KB Home Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Thursday, February 6th. KB Home’s dividend payout ratio is currently 11.81%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. FMR LLC boosted its holdings in KB Home by 47.9% during the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after purchasing an additional 1,752,498 shares during the last quarter. State Street Corp boosted its holdings in KB Home by 1.3% during the third quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock worth $303,285,000 after purchasing an additional 45,311 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in KB Home by 3.4% during the third quarter. Fisher Asset Management LLC now owns 2,206,172 shares of the construction company’s stock worth $189,047,000 after purchasing an additional 73,051 shares during the last quarter. Geode Capital Management LLC boosted its holdings in KB Home by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock worth $166,125,000 after purchasing an additional 16,593 shares during the last quarter. Finally, Holocene Advisors LP purchased a new position in KB Home during the third quarter worth about $89,899,000. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Company Profile

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.