Brokerages Set KB Home (NYSE:KBH) Price Target at $77.50

KB Home (NYSE:KBH) has been given an average recommendation of “Hold” by the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $77.50.

Several brokerages have issued reports on KBH. Bank of America raised their price target on KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Barclays upped their target price on KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. The Goldman Sachs Group lifted their price target on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd. Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective on the stock. in a report on Thursday, September 5th. Finally, Wells Fargo & Company cut shares of KB Home from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $80.00 to $83.00 in a research report on Monday, October 7th.

KB Home Stock Performance

Shares of KBH stock opened at $81.10 on Friday. KB Home has a 52-week low of $42.19 and a 52-week high of $89.70. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 0.69 and a beta of 1.81. The firm’s 50-day moving average is $82.90 and its 200-day moving average is $75.25.

KB Home (NYSE:KBH) last released its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company earned $1.80 EPS. KB Home’s quarterly revenue was up 10.3% on a year-over-year basis. Sell-side analysts predict that KB Home will post 8.41 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. KB Home’s dividend payout ratio (DPR) is currently 13.23%.

Insider Activity

In related news, CFO Jeff Kaminski sold 27,500 shares of the company’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 transaction of $2,183,500.00. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,737,156.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.44% of the stock is currently owned by corporate insiders.

Institutional Trading of KB Home

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC bought a new stake in shares of KB Home during the first quarter worth about $60,000. Plato Investment Management Ltd grew its holdings in KB Home by 72.0% during the 1st quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock worth $77,000 after acquiring an additional 452 shares during the last quarter. Tortoise Investment Management LLC grew its holdings in KB Home by 625.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock worth $78,000 after acquiring an additional 963 shares during the last quarter. Manchester Capital Management LLC increased its position in KB Home by 134.4% in the 1st quarter. Manchester Capital Management LLC now owns 1,137 shares of the construction company’s stock valued at $81,000 after acquiring an additional 652 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of KB Home by 23.4% during the third quarter. Blue Trust Inc. now owns 1,271 shares of the construction company’s stock valued at $109,000 after acquiring an additional 241 shares during the last quarter. 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.