KB Home (NYSE:KBH) PT Raised to $70.00 at Royal Bank of Canada

KB Home (NYSE:KBH) had its price objective hoisted by Royal Bank of Canada from $69.00 to $70.00 in a report published on Thursday morning, Benzinga reports. The firm currently has a sector perform rating on the construction company’s stock.

A number of other research analysts have also weighed in on the company. StockNews.com lowered KB Home from a buy rating to a hold rating in a research note on Wednesday, April 10th. The Goldman Sachs Group increased their target price on KB Home from $61.00 to $70.00 and gave the stock a neutral rating in a research report on Friday, March 22nd. Keefe, Bruyette & Woods increased their target price on KB Home from $74.00 to $77.00 and gave the stock a market perform rating in a research report on Thursday. JPMorgan Chase & Co. increased their target price on KB Home from $68.50 to $70.50 and gave the stock a neutral rating in a research report on Wednesday, March 27th. Finally, UBS Group increased their target price on KB Home from $82.00 to $87.00 and gave the stock a buy rating in a research report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $67.10.

KB Home Price Performance

KBH opened at $70.01 on Thursday. The stock has a market cap of $5.32 billion, a P/E ratio of 9.26, a P/E/G ratio of 0.77 and a beta of 1.77. The stock’s 50 day simple moving average is $68.12 and its 200 day simple moving average is $64.91. KB Home has a 1-year low of $42.11 and a 1-year high of $74.65.

KB Home (NYSE:KBH) last announced its earnings results on Wednesday, March 20th. The construction company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.19. KB Home had a return on equity of 15.81% and a net margin of 9.43%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. KB Home’s quarterly revenue was up 6.5% on a year-over-year basis. Research analysts expect that KB Home will post 8.01 EPS for the current fiscal year.

KB Home Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Wednesday, May 8th. This is a boost from KB Home’s previous quarterly dividend of $0.20. KB Home’s payout ratio is 13.23%.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 38,386 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total transaction of $2,554,972.16. Following the sale, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,294,522.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other KB Home news, EVP Albert Z. Praw sold 22,160 shares of KB Home stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $70.11, for a total transaction of $1,553,637.60. Following the transaction, the executive vice president now directly owns 135,512 shares in the company, valued at approximately $9,500,746.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jeff Kaminski sold 38,386 shares of KB Home stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total transaction of $2,554,972.16. Following the transaction, the chief financial officer now owns 34,473 shares in the company, valued at $2,294,522.88. The disclosure for this sale can be found here. Insiders have sold a total of 64,460 shares of company stock valued at $4,384,468 over the last quarter. Corporate insiders own 4.44% of the company’s stock.

Hedge Funds Weigh In On KB Home

Several institutional investors and hedge funds have recently added to or reduced their stakes in KBH. DekaBank Deutsche Girozentrale grew its holdings in shares of KB Home by 18.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 12,854 shares of the construction company’s stock valued at $891,000 after acquiring an additional 2,032 shares in the last quarter. Cetera Investment Advisers acquired a new stake in KB Home in the 1st quarter valued at approximately $1,588,000. Invst LLC acquired a new stake in KB Home in the 1st quarter valued at approximately $824,000. Swedbank AB acquired a new stake in KB Home in the 1st quarter valued at approximately $13,047,000. Finally, Virtu Financial LLC acquired a new stake in KB Home in the 1st quarter valued at approximately $1,078,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.