Bank of America Lowers KB Home (NYSE:KBH) Price Target to $62.00

KB Home (NYSE:KBH) had its price target decreased by Bank of America from $67.00 to $62.00 in a research note issued to investors on Tuesday,Benzinga reports. Bank of America currently has a neutral rating on the construction company’s stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. lowered their target price on KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Raymond James reiterated an “outperform” rating and set a $80.00 price objective (down previously from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. The Goldman Sachs Group decreased their target price on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. UBS Group dropped their price target on KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Evercore ISI upped their price objective on KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $72.13.

KB Home Stock Down 5.2 %

Shares of KBH stock opened at $58.56 on Tuesday. The company’s fifty day simple moving average is $63.99 and its two-hundred day simple moving average is $72.81. KB Home has a 52 week low of $56.41 and a 52 week high of $89.70. The stock has a market cap of $4.18 billion, a P/E ratio of 6.91, a PEG ratio of 0.90 and a beta of 1.89. The company has a quick ratio of 0.83, a current ratio of 5.51 and a debt-to-equity ratio of 0.42.

KB Home (NYSE:KBH) last posted its earnings results on Monday, March 24th. The construction company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). KB Home had a return on equity of 16.46% and a net margin of 9.45%. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm posted $1.76 earnings per share. KB Home’s quarterly revenue was down 5.2% on a year-over-year basis. Analysts predict that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Thursday, February 6th. KB Home’s payout ratio is currently 11.81%.

Insider Buying and Selling at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total value of $1,891,175.00. Following the completion of the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,370,708.21. The trade was a 44.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KB Home

A number of institutional investors have recently modified their holdings of KBH. Barclays PLC grew its stake in KB Home by 24.5% in the third quarter. Barclays PLC now owns 196,229 shares of the construction company’s stock worth $16,816,000 after purchasing an additional 38,638 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of KB Home by 22.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock worth $77,655,000 after buying an additional 164,010 shares during the period. Neo Ivy Capital Management bought a new position in shares of KB Home during the 3rd quarter worth $956,000. Blue Trust Inc. increased its stake in shares of KB Home by 35.9% during the fourth quarter. Blue Trust Inc. now owns 1,727 shares of the construction company’s stock valued at $113,000 after buying an additional 456 shares during the period. Finally, Cerity Partners LLC raised its holdings in shares of KB Home by 24.7% in the third quarter. Cerity Partners LLC now owns 38,742 shares of the construction company’s stock valued at $3,320,000 after acquiring an additional 7,679 shares in the last quarter. 96.09% of the stock is 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.