KB Home (KBH) Shares Down 5.1%
KB Home (NYSE:KBH) traded down 5.1% during mid-day trading on Friday . The stock traded as low as $15.71 and last traded at $15.78, with a volume of 2,967,749 shares. The stock had previously closed at $16.62.
Several equities research analysts recently issued reports on the company. FBN Securities cut KB Home from an “outperform” rating to a “sector perform” rating in a report on Monday, April 18th. Bank of America Corp. restated a “sell” rating on shares of KB Home in a report on Saturday, April 9th. Buckingham Research cut KB Home from a “buy” rating to a “neutral” rating and set a $18.00 target price on the stock. in a report on Monday, July 18th. Zacks Investment Research cut KB Home from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Finally, MKM Partners restated a “hold” rating on shares of KB Home in a report on Wednesday, June 22nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. KB Home currently has a consensus rating of “Hold” and an average price target of $14.97.
The company has a market cap of $1.32 billion and a price-to-earnings ratio of 16.07. The firm has a 50 day moving average price of $15.43 and a 200-day moving average price of $13.40.
KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, June 21st. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. The business earned $811.10 million during the quarter. KB Home’s revenue was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 EPS. On average, equities research analysts forecast that KB Home will post $1.34 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th will be given a $0.025 dividend. The ex-dividend date is Tuesday, August 2nd. This represents a $0.10 annualized dividend and a dividend yield of 0.64%.
In other news, CEO Jeffrey T. Mezger sold 230,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $16.43, for a total value of $3,778,900.00. Following the sale, the chief executive officer now directly owns 606,716 shares in the company, valued at $9,968,343.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey T. Mezger sold 500,000 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $16.47, for a total transaction of $8,235,000.00. Following the completion of the sale, the insider now owns 606,716 shares in the company, valued at $9,992,612.52. The disclosure for this sale can be found here.
A number of hedge funds have recently made changes to their positions in KBH. Alpine Woods Capital Investors LLC raised its stake in shares of KB Home by 100.0% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 200,000 shares of the company’s stock worth $2,466,000 after buying an additional 100,000 shares during the period. Rhumbline Advisers raised its stake in shares of KB Home by 1.0% in the fourth quarter. Rhumbline Advisers now owns 190,211 shares of the company’s stock worth $2,345,000 after buying an additional 1,935 shares during the period. First Trust Advisors LP raised its stake in shares of KB Home by 0.3% in the fourth quarter. First Trust Advisors LP now owns 389,022 shares of the company’s stock worth $4,797,000 after buying an additional 986 shares during the period. Russell Frank Co raised its stake in shares of KB Home by 270.2% in the fourth quarter. Russell Frank Co now owns 288,910 shares of the company’s stock worth $3,608,000 after buying an additional 210,873 shares during the period. Finally, Cypress Funds LLC raised its stake in shares of KB Home by 17.6% in the fourth quarter. Cypress Funds LLC now owns 317,500 shares of the company’s stock worth $3,915,000 after buying an additional 47,500 shares during the period.
KB Home is a homebuilding company in the United States. The Company constructs and sells a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. Its segments include the West Coast, Southwest, Central and Southeast homebuilding segments, and financial services segment.
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