JPMorgan Chase & Co. Lowers KB Home (NYSE:KBH) Price Target to $82.00

KB Home (NYSE:KBH) had its price objective trimmed by JPMorgan Chase & Co. from $92.50 to $82.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

Other analysts have also recently issued reports about the company. Wedbush upped their target price on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Wells Fargo & Company lowered shares of KB Home from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $80.00 to $83.00 in a report on Monday, October 7th. Royal Bank of Canada cut shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective for the company. in a research report on Thursday, September 5th. The Goldman Sachs Group boosted their target price on shares of KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Finally, Barclays downgraded shares of KB Home from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $99.00 to $85.00 in a report on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, KB Home presently has an average rating of “Hold” and an average price target of $79.92.

KB Home Trading Down 2.9 %

NYSE:KBH opened at $71.42 on Friday. The company has a market cap of $5.24 billion, a P/E ratio of 9.16, a P/E/G ratio of 0.59 and a beta of 1.81. KB Home has a twelve month low of $58.05 and a twelve month high of $89.70. The company’s 50-day moving average price is $79.83 and its 200-day moving average price is $78.45.

KB Home (NYSE:KBH) last released its earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $1.80 earnings per share. On average, analysts expect that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Thursday, November 14th. KB Home’s payout ratio is 12.82%.

Insiders Place Their Bets

In other news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.44% of the stock is owned by insiders.

Hedge Funds Weigh In On KB Home

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. purchased a new stake in shares of KB Home during the third quarter worth $32,000. Riggs Asset Managment Co. Inc. acquired a new position in KB Home during the 3rd quarter worth $43,000. Wilmington Savings Fund Society FSB purchased a new stake in KB Home during the 3rd quarter worth about $59,000. Banque Cantonale Vaudoise acquired a new stake in KB Home in the 3rd quarter valued at about $61,000. Finally, Quest Partners LLC boosted its stake in shares of KB Home by 101,600.0% in the 3rd quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock valued at $87,000 after buying an additional 1,016 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

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.