KB Home (KBH) Reaches New 1-Year High at $16.76
Shares of KB Home (NYSE:KBH) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.76 and last traded at $16.52, with a volume of 1,391,823 shares. The stock had previously closed at $16.54.
Several research firms have issued reports on KBH. Zacks Investment Research raised shares of KB Home from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Monday, July 18th. Argus reaffirmed a “hold” rating on shares of KB Home in a report on Monday, July 18th. Buckingham Research downgraded shares of KB Home from a “buy” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a report on Monday, July 18th. Credit Suisse Group AG reaffirmed a “sell” rating on shares of KB Home in a report on Tuesday, June 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $15.00 price objective (up from $14.00) on shares of KB Home in a report on Sunday, June 26th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.97.
The company has a market capitalization of $1.38 billion and a price-to-earnings ratio of 16.78. The firm’s 50 day moving average price is $15.39 and its 200 day moving average price is $13.36.
KB Home (NYSE:KBH) last posted its quarterly earnings results on Tuesday, June 21st. The company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.03. The company had revenue of $811.10 million for the quarter. During the same quarter in the previous year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis. On average, equities analysts anticipate that KB Home will post $1.34 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, August 2nd. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.60%.
In other news, CEO Jeffrey T. Mezger sold 230,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $16.43, for a total transaction of $3,778,900.00. Following the transaction, the chief executive officer now directly owns 606,716 shares of the company’s stock, valued at approximately $9,968,343.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey T. Mezger sold 500,000 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $16.47, for a total transaction of $8,235,000.00. Following the transaction, the insider now directly owns 606,716 shares in the company, valued at $9,992,612.52. The disclosure for this sale can be found here.
Several institutional investors recently bought and sold shares of the company. California State Teachers Retirement System boosted its position in KB Home by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 151,197 shares of the company’s stock worth $1,864,000 after buying an additional 2,336 shares during the period. OppenheimerFunds Inc. raised its stake in KB Home by 132.5% in the fourth quarter. OppenheimerFunds Inc. now owns 151,306 shares of the company’s stock valued at $1,866,000 after buying an additional 86,216 shares in the last quarter. Rhumbline Advisers raised its stake in KB Home by 1.0% in the fourth quarter. Rhumbline Advisers now owns 190,211 shares of the company’s stock valued at $2,345,000 after buying an additional 1,935 shares in the last quarter. Alpine Woods Capital Investors LLC raised its stake in KB Home by 100.0% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 200,000 shares of the company’s stock valued at $2,466,000 after buying an additional 100,000 shares in the last quarter. Finally, KBC Group NV acquired a new stake in KB Home during the fourth quarter valued at approximately $2,736,000.
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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