Barclays Cuts KB Home (NYSE:KBH) Price Target to $56.00

KB Home (NYSE:KBH) had its target price trimmed by Barclays from $60.00 to $56.00 in a research note released on Tuesday, Marketbeat Ratings reports. The brokerage currently has an equal weight rating on the construction company’s stock.

KBH has been the subject of several other reports. Evercore ISI upped 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. Wells Fargo & Company decreased their price objective on shares of KB Home from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. Keefe, Bruyette & Woods dropped their target price on KB Home from $85.00 to $76.00 and set a “market perform” rating on the stock in a research report on Friday, January 17th. Seaport Res Ptn raised KB Home from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Finally, Raymond James restated an “outperform” rating and set a $80.00 price objective (down from $93.00) on shares of KB Home in a report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, KB Home presently has a consensus rating of “Hold” and a consensus price target of $71.21.

KB Home Trading Up 0.3 %

Shares of KBH opened at $59.29 on Tuesday. KB Home has a 12 month low of $56.41 and a 12 month high of $89.70. The stock’s 50-day moving average is $63.63 and its two-hundred day moving average is $72.62. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83. The stock has a market cap of $4.24 billion, a PE ratio of 7.00, a P/E/G ratio of 0.90 and a beta of 1.89.

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

KB Home Announces Dividend

The business 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 was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.69%. KB Home’s payout ratio is currently 12.20%.

Insider Buying and Selling

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the company’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 transaction, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,370,708.21. This represents a 44.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.89% of the company’s stock.

Hedge Funds Weigh In On KB Home

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its position in KB Home by 7.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,125 shares of the construction company’s stock valued at $1,520,000 after acquiring an additional 1,631 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of KB Home in the fourth quarter worth $11,543,000. GHE LLC increased its holdings in shares of KB Home by 6.8% during the fourth quarter. GHE LLC now owns 32,239 shares of the construction company’s stock valued at $2,119,000 after purchasing an additional 2,042 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of KB Home during the fourth quarter valued at about $9,965,000. Finally, Forum Financial Management LP lifted its holdings in KB Home by 19.9% in the fourth quarter. Forum Financial Management LP now owns 3,197 shares of the construction company’s stock worth $210,000 after purchasing an additional 531 shares during the period. 96.09% of the stock is currently owned by institutional investors and hedge funds.

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.