KB Home (NYSE:KBH) Price Target Lowered to $54.00 at Bank of America

KB Home (NYSE:KBH) had its target price cut by Bank of America from $58.00 to $54.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other analysts also recently issued reports on KBH. Wall Street Zen downgraded shares of KB Home from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. Seaport Res Ptn raised shares of KB Home from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. The Goldman Sachs Group cut their price objective on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Wells Fargo & Company cut their price target on shares of KB Home from $55.00 to $53.00 and set an “underweight” rating for the company in a report on Tuesday, June 3rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $75.00 price target on shares of KB Home in a report on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $66.14.

KB Home Stock Performance

NYSE KBH opened at $52.13 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 5.83 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $3.74 billion, a P/E ratio of 6.90, a P/E/G ratio of 3.94 and a beta of 1.35. KB Home has a 12-month low of $48.90 and a 12-month high of $89.70. The firm has a 50-day moving average price of $52.95 and a two-hundred day moving average price of $59.55.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Monday, June 23rd. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.05. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. KB Home had a net margin of 8.47% and a return on equity of 14.02%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.15 EPS. Analysts anticipate that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Thursday, May 8th. KB Home’s payout ratio is 13.25%.

Insider Buying and Selling at KB Home

In other KB Home news, Director Arthur Reginald Collins sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $54.38, for a total value of $271,900.00. Following the completion of the transaction, the director now directly owns 10,262 shares in the company, valued at approximately $558,047.56. This represents a 32.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.89% of the company’s stock.

Hedge Funds Weigh In On KB Home

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Xponance Inc. increased its position in KB Home by 1.7% in the 4th quarter. Xponance Inc. now owns 9,815 shares of the construction company’s stock valued at $645,000 after acquiring an additional 163 shares during the period. Principal Securities Inc. increased its position in KB Home by 43.6% in the 4th quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock valued at $39,000 after acquiring an additional 179 shares during the period. Amundi increased its position in KB Home by 29.6% in the 4th quarter. Amundi now owns 880 shares of the construction company’s stock valued at $58,000 after acquiring an additional 201 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in KB Home by 0.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,019 shares of the construction company’s stock valued at $2,433,000 after acquiring an additional 206 shares during the period. Finally, CWM LLC increased its position in shares of KB Home by 11.8% during the first quarter. CWM LLC now owns 2,007 shares of the construction company’s stock worth $117,000 after buying an additional 212 shares during the period. 96.09% of the stock is currently owned by institutional investors and hedge funds.

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.