KB Home (NYSE:KBH) Price Target Raised to $70.50

KB Home (NYSE:KBH) had its price objective raised by JPMorgan Chase & Co. from $68.50 to $70.50 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

A number of other research firms also recently weighed in on KBH. StockNews.com raised shares of KB Home from a hold rating to a buy rating in a research report on Friday, March 22nd. Royal Bank of Canada raised their price target on KB Home from $63.00 to $69.00 and gave the company a sector perform rating in a report on Thursday, March 21st. Barclays raised their price target on KB Home from $75.00 to $77.00 and gave the company an overweight rating in a research report on Friday, March 22nd. UBS Group upped their price objective on shares of KB Home from $82.00 to $87.00 and gave the company a buy rating in a research note on Thursday, March 21st. Finally, Wedbush boosted their price objective on KB Home from $60.00 to $64.00 and gave the company a neutral rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $66.11.

KB Home Trading Up 1.9 %

Shares of KBH stock opened at $70.88 on Wednesday. KB Home has a 1-year low of $38.26 and a 1-year high of $72.00. The stock has a 50-day moving average of $64.50 and a 200-day moving average of $56.70. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 0.81 and a beta of 1.73.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.19. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business earned $1.45 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts forecast that KB Home will post 7.79 earnings per share for the current year.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, February 7th. KB Home’s dividend payout ratio is currently 10.88%.

Insider Buying and Selling at KB Home

In related news, CEO Jeffrey T. Mezger sold 165,307 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $59.40, for a total transaction of $9,819,235.80. Following the completion of the transaction, the chief executive officer now directly owns 1,491,298 shares of the company’s stock, valued at $88,583,101.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other KB Home news, CEO Jeffrey T. Mezger sold 165,307 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $59.40, for a total transaction of $9,819,235.80. Following the completion of the sale, the chief executive officer now owns 1,491,298 shares in the company, valued at $88,583,101.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Brian J. Woram sold 83,272 shares of KB Home stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.53, for a total transaction of $5,040,454.16. Following the completion of the transaction, the executive vice president now directly owns 156,119 shares in the company, valued at approximately $9,449,883.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 373,635 shares of company stock valued at $22,400,005. Insiders own 4.44% of the company’s stock.

Institutional Trading of KB Home

Several large investors have recently bought and sold shares of the stock. Harbour Investments Inc. purchased a new stake in KB Home during the 2nd quarter valued at about $26,000. Manchester Capital Management LLC boosted its position in KB Home by 433.0% in the fourth quarter. Manchester Capital Management LLC now owns 485 shares of the construction company’s stock valued at $30,000 after buying an additional 394 shares during the last quarter. Bessemer Group Inc. acquired a new position in KB Home in the 2nd quarter worth approximately $34,000. Lazard Asset Management LLC acquired a new stake in KB Home during the 1st quarter valued at approximately $40,000. Finally, Fifth Third Bancorp boosted its holdings in shares of KB Home by 40.9% in the 3rd quarter. Fifth Third Bancorp now owns 930 shares of the construction company’s stock valued at $43,000 after acquiring an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

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.