Brokerages Set KB Home (NYSE:KBH) Target Price at $59.17

Shares of KB Home (NYSE:KBH) have been assigned a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $59.1667.

Several equities analysts have issued reports on KBH shares. Truist Financial decreased their price objective on shares of KB Home from $54.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, May 4th. Weiss Ratings downgraded shares of KB Home from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Wells Fargo & Company decreased their price objective on shares of KB Home from $55.00 to $50.00 and set an “underweight” rating on the stock in a report on Wednesday, March 25th. The Goldman Sachs Group decreased their price objective on shares of KB Home from $65.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, March 25th. Finally, Bank of America decreased their price objective on shares of KB Home from $63.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, March 25th.

KB Home Stock Performance

KBH stock opened at $53.22 on Thursday. The firm has a market cap of $3.33 billion, a PE ratio of 13.51, a P/E/G ratio of 9.53 and a beta of 1.37. KB Home has a one year low of $44.03 and a one year high of $68.71. The firm’s fifty day moving average is $50.96 and its 200 day moving average is $56.51.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, March 24th. The construction company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.10 billion. KB Home had a net margin of 5.96% and a return on equity of 9.63%. The company’s revenue was down 22.6% compared to the same quarter last year. During the same period last year, the firm posted $1.49 earnings per share. Research analysts predict that KB Home will post 3.1 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, May 7th. KB Home’s dividend payout ratio (DPR) is currently 25.38%.

Hedge Funds Weigh In On KB Home

Several hedge funds and other institutional investors have recently modified their holdings of KBH. Freestone Grove Partners LP purchased a new position in shares of KB Home in the third quarter worth about $111,050,000. Norges Bank purchased a new position in shares of KB Home in the fourth quarter worth about $48,418,000. Donald Smith & CO. Inc. lifted its stake in shares of KB Home by 387.8% in the fourth quarter. Donald Smith & CO. Inc. now owns 725,394 shares of the construction company’s stock worth $40,919,000 after buying an additional 576,694 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of KB Home by 102.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 932,178 shares of the construction company’s stock worth $52,584,000 after buying an additional 471,598 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its stake in shares of KB Home by 519.2% in the fourth quarter. Engineers Gate Manager LP now owns 353,739 shares of the construction company’s stock worth $19,954,000 after buying an additional 296,615 shares in the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

About KB Home

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.