Bank of America cut shares of KB Home (NYSE:KBH) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning, Marketbeat reports. The brokerage currently has $24.00 target price on the construction company’s stock.

Several other brokerages have also recently issued reports on KBH. ValuEngine raised KB Home from a sell rating to a hold rating in a research note on Friday, September 14th. Zacks Investment Research cut KB Home from a hold rating to a sell rating in a research note on Monday, September 24th. JMP Securities raised KB Home from a market perform rating to an outperform rating and set a $30.00 price objective on the stock in a research note on Wednesday, September 26th. MKM Partners set a $32.00 price objective on KB Home and gave the stock a hold rating in a research note on Wednesday, September 26th. Finally, Wedbush increased their price objective on KB Home from $25.00 to $26.00 and gave the stock a hold rating in a research note on Wednesday, September 26th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. KB Home has an average rating of Hold and an average price target of $27.05.

Shares of NYSE:KBH opened at $18.99 on Thursday. KB Home has a 52-week low of $16.82 and a 52-week high of $38.80. The company has a market capitalization of $1.68 billion, a P/E ratio of 10.26, a PEG ratio of 0.46 and a beta of 1.54.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, September 25th. The construction company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.10. KB Home had a return on equity of 13.96% and a net margin of 3.43%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. KB Home’s revenue was up 7.1% compared to the same quarter last year. On average, analysts expect that KB Home will post 2.67 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Thursday, November 15th will be given a dividend of $0.025 per share. The ex-dividend date is Wednesday, November 14th. This represents a $0.10 annualized dividend and a yield of 0.53%. KB Home’s dividend payout ratio (DPR) is presently 5.41%.

In other KB Home news, SVP William R. Hollinger sold 79,564 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $23.96, for a total transaction of $1,906,353.44. Following the sale, the senior vice president now owns 234,539 shares of the company’s stock, valued at approximately $5,619,554.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in KBH. Prudential Financial Inc. boosted its position in KB Home by 283.4% during the 3rd quarter. Prudential Financial Inc. now owns 1,289,413 shares of the construction company’s stock valued at $30,829,000 after acquiring an additional 953,079 shares in the last quarter. Investec Asset Management LTD bought a new stake in KB Home during the 2nd quarter valued at $23,056,000. Panagora Asset Management Inc. boosted its position in KB Home by 115.4% during the 3rd quarter. Panagora Asset Management Inc. now owns 932,314 shares of the construction company’s stock valued at $22,292,000 after acquiring an additional 499,540 shares in the last quarter. Renaissance Technologies LLC boosted its position in KB Home by 48.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,169,100 shares of the construction company’s stock valued at $31,846,000 after acquiring an additional 383,200 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC bought a new stake in KB Home during the 2nd quarter valued at $6,606,000. 85.85% of the stock is currently owned by institutional investors and hedge funds.

About KB Home

KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.

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Analyst Recommendations for KB Home (NYSE:KBH)

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