KB Home (NYSE:KBH) Receives $60.17 Average Price Target from Analysts

KB Home (NYSE:KBH) has been assigned a consensus rating of “Hold” from the sixteen analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $60.1667.

KBH has been the topic of a number of recent research reports. Barclays boosted their price objective on KB Home from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Weiss Ratings raised KB Home from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Citigroup reiterated a “market outperform” rating on shares of KB Home in a report on Wednesday, June 17th. Zacks Research upgraded shares of KB Home from a “strong sell” rating to a “hold” rating in a report on Thursday, June 25th. Finally, Wall Street Zen raised shares of KB Home from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th.

KB Home Trading Down 2.4%

KBH stock opened at $54.73 on Tuesday. The firm has a 50-day moving average of $57.06 and a two-hundred day moving average of $55.14. KB Home has a 12 month low of $44.03 and a 12 month high of $68.71. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 9.30 and a beta of 1.35.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). KB Home had a return on equity of 7.67% and a net margin of 4.94%.The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the firm earned $1.50 earnings per share. The company’s revenue for the quarter was down 27.3% on a year-over-year basis. As a group, equities analysts forecast that KB Home will post 3.3 earnings per share for the current year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, August 6th. KB Home’s dividend payout ratio (DPR) is presently 34.84%.

Insiders Place Their Bets

In other KB Home news, Director Arthur Reginald Collins sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $56.96, for a total transaction of $227,840.00. Following the sale, the director owned 9,157 shares in the company, valued at $521,582.72. This represents a 30.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Albert Z. Praw sold 22,015 shares of the 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 completion of the sale, 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 disclosure for this sale is available in the SEC filing. Company insiders own 4.69% of the company’s stock.

Hedge Funds Weigh In On KB Home

Several hedge funds and other institutional investors have recently made changes to their positions in KBH. Eastern Bank purchased a new position in KB Home during the 2nd quarter worth $26,000. Bessemer Group Inc. raised its holdings in shares of KB Home by 80.0% in the first quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock valued at $26,000 after buying an additional 220 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of KB Home by 73.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock valued at $33,000 after buying an additional 250 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of KB Home during the third quarter worth about $36,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of KB Home during the second quarter worth about $46,000. 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.