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

KB Home (NYSE:KBH) had its price target decreased by Bank of America from $62.00 to $58.00 in a research report report published on Monday,Benzinga reports. Bank of America currently has a neutral rating on the construction company’s stock.

Several other research firms have also recently commented on KBH. Oppenheimer initiated coverage on shares of KB Home in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Royal Bank Of Canada lowered their price objective on shares of KB Home from $59.00 to $54.00 and set a “sector perform” rating for the company in a report on Friday, December 19th. Wells Fargo & Company cut their price objective on KB Home from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Friday, December 19th. Barclays decreased their target price on KB Home from $71.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Evercore ISI set a $65.00 price target on KB Home and gave the company an “in-line” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $64.09.

KB Home Stock Performance

Shares of KBH stock opened at $57.80 on Monday. KB Home has a fifty-two week low of $48.90 and a fifty-two week high of $72.64. The firm has a market cap of $3.74 billion, a P/E ratio of 11.77, a P/E/G ratio of 2.31 and a beta of 1.40. The business’s 50 day moving average price is $61.93 and its 200-day moving average price is $60.16.

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

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, November 13th. KB Home’s dividend payout ratio (DPR) is 20.37%.

Insider Transactions at KB Home

In other KB Home news, EVP Albert Z. Praw sold 20,284 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $60.08, for a total value of $1,218,662.72. Following the sale, the executive vice president directly owned 104,062 shares of the company’s stock, valued at approximately $6,252,044.96. The trade was 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. Insiders own 3.89% of the company’s stock.

Hedge Funds Weigh In On KB Home

Several large investors have recently modified their holdings of the stock. Fulcrum Asset Management LLP purchased a new stake in KB Home during the 3rd quarter valued at about $36,000. Jones Financial Companies Lllp lifted 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 worth $49,000 after buying an additional 240 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of KB Home during the second quarter valued at approximately $44,000. SBI Securities Co. Ltd. increased its position in shares of KB Home by 2,848.4% during the third quarter. SBI Securities Co. Ltd. now owns 914 shares of the construction company’s stock valued at $58,000 after acquiring an additional 883 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of KB Home by 56.3% during the third quarter. Harbor Capital Advisors Inc. now owns 944 shares of the construction company’s stock valued at $60,000 after acquiring an additional 340 shares in the last quarter. Hedge funds and other 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.