KB Home (NYSE:KBH) Price Target Cut to $56.00 by Analysts at Barclays

KB Home (NYSE:KBH) had its price objective cut by Barclays from $60.00 to $56.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the construction company’s stock.

Several other brokerages have also recently commented on KBH. The Goldman Sachs Group reduced their price objective on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Bank of America lowered their price target on KB Home from $67.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday. Seaport Res Ptn raised KB Home from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Raymond James reiterated an “outperform” rating and set a $80.00 target price (down from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. Finally, Evercore ISI boosted their price objective on shares of KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $72.13.

KB Home Trading Down 5.2 %

Shares of KB Home stock opened at $58.56 on Tuesday. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 6.91, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. KB Home has a 52-week low of $56.41 and a 52-week high of $89.70. The company’s 50-day simple moving average is $63.99 and its 200-day simple moving average is $72.81. 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 announced its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). KB Home had a net margin of 9.45% and a return on equity of 16.46%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the firm posted $1.76 EPS. KB Home’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate 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 Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.00 annualized dividend and a yield of 1.71%. KB Home’s payout ratio is currently 11.81%.

Insider Transactions at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,370,708.21. This represents a 44.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.89% of the company’s stock.

Institutional Investors Weigh In On KB Home

A number of institutional investors have recently bought and sold shares of the stock. Xponance Inc. boosted its holdings in shares of KB Home by 1.7% in the 4th quarter. Xponance Inc. now owns 9,815 shares of the construction company’s stock valued at $645,000 after purchasing an additional 163 shares during the last quarter. Principal Securities Inc. grew its position in KB Home by 43.6% during the fourth quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock valued at $39,000 after acquiring an additional 179 shares during the period. Blue Trust Inc. raised its holdings in shares of KB Home by 15.3% in the 4th quarter. Blue Trust Inc. now owns 1,465 shares of the construction company’s stock worth $96,000 after purchasing an additional 194 shares during the period. Amundi raised its holdings in shares of KB Home by 29.6% in the 4th quarter. Amundi now owns 880 shares of the construction company’s stock worth $58,000 after purchasing an additional 201 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of KB Home by 0.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,019 shares of the construction company’s stock worth $2,433,000 after purchasing an additional 206 shares during the period. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

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.