KB Home (NYSE:KBH) Stock Has Consensus Price Target of $59.92 According to Brokerages

KB Home (NYSE:KBH) has earned an average rating of “Hold” from the fifteen ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $56.00.

A number of equities analysts have recently commented on KBH shares. Royal Bank Of Canada reiterated a “market perform” rating on shares of KB Home in a report on Wednesday. Zacks Research lowered KB Home from a “hold” rating to a “strong sell” rating in a report on Thursday, September 17th. Barclays lowered their price target on KB Home from $57.00 to $49.00 and set an “overweight” rating for the company in a research report on Wednesday. Wall Street Zen raised shares of KB Home from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Evercore set a $59.00 price objective on shares of KB Home in a research report on Wednesday.

KB Home Trading Up 0.6%

Shares of NYSE KBH opened at $47.94 on Friday. KB Home has a 12-month low of $44.03 and a 12-month high of $67.57. The firm’s 50-day moving average price is $53.64 and its 200-day moving average price is $53.26. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 2.49 and a beta of 1.34.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, September 22nd. The construction company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.88 by $0.17. KB Home had a return on equity of 6.56% and a net margin of 4.39%.The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business posted $1.61 earnings per share. The firm’s revenue was down 20.0% on a year-over-year basis. On average, equities analysts predict that KB Home will post 3.23 EPS for the current fiscal year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. KB Home’s payout ratio is currently 28.17%.

Insider Activity

In other KB Home news, Director Arthur Collins sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $56.96, for a total value of $227,840.00. Following the completion of the sale, the director owned 9,157 shares of the company’s stock, valued at $521,582.72. This trade represents a 30.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Albert Z. Praw sold 22,015 shares of the business’s stock in a transaction that occurred on 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 owned 104,062 shares of the company’s stock, valued at $6,108,439.40. This trade represents a 17.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.69% of the company’s stock.

Institutional Investors Weigh In On KB Home

Hedge funds and other institutional investors have recently modified their holdings of the business. Great Lakes Advisors LLC purchased a new position in KB Home during the 2nd quarter valued at $4,470,000. Bank of America Corp DE purchased a new stake in KB Home in the second quarter worth $35,377,000. SummitTX Capital L.P. purchased a new stake in KB Home in the first quarter worth $1,771,000. Fifth Third Bancorp lifted its position in shares of KB Home by 2,016.1% during the first quarter. Fifth Third Bancorp now owns 24,864 shares of the construction company’s stock worth $1,287,000 after purchasing an additional 23,689 shares during the last quarter. Finally, EMG Holdings L.P. bought a new stake in shares of KB Home during the first quarter worth $4,019,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Company Profile

KB Home (NYSE: KBH) is a homebuilding company that designs, constructs and sells residential properties in the United States. Its offerings primarily include single-family homes, with communities and floor plans intended for first-time buyers, move-up buyers and other owner-occupants. The company also provides homebuyers with opportunities to personalize selected features and finishes through its build-to-order approach.

The company operates in several major housing markets across the United States, including locations in Arizona, California, Colorado, Florida, Idaho, Nevada, North Carolina, South Carolina, Texas and Washington.