KB Home (NYSE:KBH) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of KB Home (NYSE:KBH) from a sell rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

KBH has been the subject of a number of other reports. Wells Fargo & Company dropped their price objective on shares of KB Home from $50.00 to $42.00 and set an “underweight” rating for the company in a research note on Friday, October 16th. Zacks Research upgraded shares of KB Home from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. The Goldman Sachs Group set a $56.00 target price on shares of KB Home in a research report on Monday, October 12th. Bank of America lowered their price target on shares of KB Home from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, September 23rd. Finally, Keefe, Bruyette & Woods lowered their price target on shares of KB Home from $65.00 to $54.00 and set a “market perform” rating for the company in a report on Monday, October 5th. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $52.23.

KB Home Price Performance

NYSE:KBH opened at $47.94 on Friday. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 2.49 and a beta of 1.34. KB Home has a 1 year low of $40.92 and a 1 year high of $67.57. The stock’s 50 day simple moving average is $48.03 and its two-hundred day simple moving average is $53.75.

KB Home (NYSE:KBH) last posted its earnings results on Tuesday, September 22nd. The construction company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. KB Home had a return on equity of 6.56% and a net margin of 4.39%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the company earned $1.61 EPS. The company’s quarterly revenue was down 20.0% compared to the same quarter last year. As a group, analysts anticipate that KB Home will post 3.26 EPS for the current year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Thursday, November 12th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, November 12th. KB Home’s payout ratio is 28.17%.

Insider Activity

In other KB Home news, EVP Albert Praw sold 22,015 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $58.70, for a total value of $1,292,280.50. Following the transaction, the executive vice president directly owned 104,062 shares in the company, valued at $6,108,439.40. This represents a 17.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arthur Collins sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $56.96, for a total transaction of $227,840.00. Following the transaction, the director directly owned 9,157 shares in the company, valued at approximately $521,582.72. This trade represents a 30.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.69% of the stock is owned by insiders.

Institutional Trading of KB Home

A number of large investors have recently modified their holdings of KBH. State of Wyoming increased its holdings in KB Home by 9.7% during the third quarter. State of Wyoming now owns 9,472 shares of the construction company’s stock valued at $440,000 after buying an additional 836 shares during the period. Signaturefd LLC raised its stake in KB Home by 3.3% in the third quarter. Signaturefd LLC now owns 9,476 shares of the construction company’s stock worth $440,000 after buying an additional 305 shares in the last quarter. Inspire Investing LLC raised its stake in KB Home by 24.8% in the third quarter. Inspire Investing LLC now owns 13,578 shares of the construction company’s stock worth $631,000 after buying an additional 2,697 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in KB Home by 49.4% during the third quarter. Nisa Investment Advisors LLC now owns 3,503 shares of the construction company’s stock worth $163,000 after buying an additional 1,158 shares during the period. Finally, Mather Group LLC. purchased a new stake in KB Home during the third quarter worth $34,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Company Profile

KB Home (NYSE: KBH) is a homebuilder that develops and constructs residential communities across the United States. The company primarily builds single-family homes, along with certain attached homes and townhomes, serving first-time, move-up and active-adult buyers.

KB Home offers a range of home designs, floor plans and personalization options, allowing buyers to select features and finishes during the construction process. Its activities generally include land acquisition and development, home construction, sales and customer support, with homes built in both suburban and urban communities.

Founded in 1957, KB Home operates in markets across Arizona, California, Colorado, Florida, Idaho, Nevada, North Carolina, South Carolina, Texas and Washington.