KB Home (NYSE:KBH) Sets New 12-Month High at $89.37

KB Home (NYSE:KBH)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $89.37 and last traded at $88.29, with a volume of 617194 shares traded. The stock had previously closed at $86.75.

Analysts Set New Price Targets

Several research firms recently commented on KBH. Evercore ISI boosted their price objective on shares of KB Home from $86.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods increased their price objective on KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. The Goldman Sachs Group boosted their target price on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Wedbush reiterated a “neutral” rating and issued a $67.00 price target on shares of KB Home in a research note on Thursday, September 12th. Finally, Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a research note on Thursday, September 5th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, KB Home has an average rating of “Hold” and an average price target of $73.71.

KB Home Stock Down 0.1 %

The stock has a market cap of $6.51 billion, a PE ratio of 11.48, a P/E/G ratio of 0.80 and a beta of 1.81. The business has a 50 day moving average price of $81.06 and a 200 day moving average price of $72.69.

KB Home (NYSE:KBH) last released its quarterly earnings data on Tuesday, June 18th. The construction company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.78 by $0.37. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.64 billion. KB Home had a return on equity of 15.66% and a net margin of 9.43%. On average, research analysts predict that KB Home will post 8.38 earnings per share for the current fiscal year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Thursday, August 8th. KB Home’s dividend payout ratio (DPR) is presently 13.23%.

Institutional Investors Weigh In On KB Home

A number of institutional investors have recently modified their holdings of KBH. Fidelis Capital Partners LLC acquired a new position in KB Home in the 1st quarter worth about $60,000. Plato Investment Management Ltd raised its stake in shares of KB Home by 72.0% during the 1st quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock worth $77,000 after buying an additional 452 shares during the period. Tortoise Investment Management LLC lifted its position in shares of KB Home by 625.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock valued at $78,000 after buying an additional 963 shares in the last quarter. Manchester Capital Management LLC grew its stake in KB Home by 134.4% in the 1st quarter. Manchester Capital Management LLC now owns 1,137 shares of the construction company’s stock valued at $81,000 after acquiring an additional 652 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in KB Home in the 1st quarter worth $120,000. 96.09% 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 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.