KB Home (NYSE:KBH) Given New $74.00 Price Target at Wells Fargo & Company

KB Home (NYSE:KBH) had its price objective cut by Wells Fargo & Company from $83.00 to $74.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an underweight rating on the construction company’s stock.

KBH has been the subject of a number of other reports. Bank of America upped their price objective on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Wedbush raised their price objective on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. The Goldman Sachs Group boosted their target price on shares of KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. decreased their target price on KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Finally, Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective for the company. in a research report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $79.17.

KB Home Stock Performance

KB Home stock opened at $70.44 on Tuesday. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 0.59 and a beta of 1.81. KB Home has a 1 year low of $58.05 and a 1 year high of $89.70. The firm’s 50 day moving average price is $79.45 and its two-hundred day moving average price is $78.53.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a return on equity of 15.69% and a net margin of 9.31%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm earned $1.80 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts predict that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.42%. The ex-dividend date was Thursday, November 14th. KB Home’s payout ratio is presently 12.82%.

Insiders Place Their Bets

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.44% of the company’s stock.

Institutional Trading of KB Home

Several large investors have recently made changes to their positions in KBH. FMR LLC lifted its holdings in KB Home by 47.9% in the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after purchasing an additional 1,752,498 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of KB Home in the third quarter worth $89,899,000. LSV Asset Management boosted its holdings in shares of KB Home by 118.4% during the 2nd quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock worth $74,138,000 after buying an additional 572,800 shares during the period. WINTON GROUP Ltd boosted its holdings in shares of KB Home by 754.7% during the 2nd quarter. WINTON GROUP Ltd now owns 206,789 shares of the construction company’s stock worth $14,512,000 after buying an additional 182,595 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in 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 valued at $77,655,000 after buying an additional 164,010 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.