Wells Fargo & Company Cuts KB Home (NYSE:KBH) Price Target to $57.00

KB Home (NYSE:KBH) had its price objective trimmed by Wells Fargo & Company from $63.00 to $57.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the construction company’s stock.

Several other analysts also recently issued reports on the stock. Evercore ISI boosted their target price on shares of KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price target on KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. UBS Group decreased their price objective on KB Home from $97.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods lowered their target price on KB Home from $85.00 to $76.00 and set a “market perform” rating on the stock in a research note on Friday, January 17th. Finally, Royal Bank of Canada raised shares of KB Home from an “underperform” rating to a “sector perform” rating and reduced their price target for the stock from $70.00 to $67.00 in a research report on Friday, January 10th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, KB Home currently has an average rating of “Hold” and a consensus target price of $72.13.

KB Home Price Performance

NYSE KBH opened at $58.56 on Tuesday. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. KB Home has a 1 year low of $56.41 and a 1 year high of $89.70. The company has a market cap of $4.18 billion, a PE ratio of 6.91, a PEG ratio of 0.90 and a beta of 1.89. The stock’s 50-day moving average price is $63.99 and its two-hundred day moving average price is $72.81.

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

KB Home Dividend Announcement

The firm 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. 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 dividend payout ratio (DPR) is presently 11.81%.

Insiders Place Their Bets

In other news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction on 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 owns 34,473 shares in the company, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.89% of the company’s stock.

Hedge Funds Weigh In On KB Home

Several hedge funds have recently bought and sold shares of KBH. Jones Financial Companies Lllp boosted its position in KB Home by 65.6% during the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock worth $36,000 after purchasing an additional 214 shares during the period. Principal Securities Inc. lifted its stake in shares of KB Home by 43.6% in the fourth quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock worth $39,000 after buying an additional 179 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of KB Home during the 3rd quarter worth $59,000. Versant Capital Management Inc grew its stake in KB Home by 275.7% in the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after buying an additional 557 shares during the last quarter. Finally, Amundi raised its holdings in KB Home by 29.6% in the 4th quarter. Amundi now owns 880 shares of the construction company’s stock worth $58,000 after acquiring an additional 201 shares during the period. 96.09% of the stock is 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.