Brokerages Set KB Home (NYSE:KBH) Target Price at $59.92

Shares of KB Home (NYSE:KBH) have earned an average rating of “Hold” from the fifteen ratings firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $59.9167.

A number of equities analysts have recently weighed in on KBH shares. Weiss Ratings raised KB Home from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Royal Bank Of Canada reissued a “sector perform” rating and issued a $53.00 price target on shares of KB Home in a research report on Wednesday, June 24th. Wall Street Zen upgraded shares of KB Home from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Wells Fargo & Company lowered their price objective on shares of KB Home from $52.00 to $50.00 and set an “underweight” rating on the stock in a report on Friday, September 11th. Finally, Barclays raised their price objective on shares of KB Home from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th.

KB Home Price Performance

Shares of KB Home stock opened at $47.92 on Friday. The business has a 50-day simple moving average of $54.32 and a 200 day simple moving average of $53.52. KB Home has a one year low of $44.03 and a one year high of $67.57. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 2.43 and a beta of 1.34.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). KB Home had a return on equity of 7.67% and a net margin of 4.94%.The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted $1.50 EPS. The firm’s revenue was down 27.3% on a year-over-year basis. On average, sell-side analysts expect that KB Home will post 3.27 EPS for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. KB Home’s payout ratio is presently 34.84%.

Insider Transactions at KB Home

In related news, EVP Albert Praw sold 22,015 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $58.70, for a total value of $1,292,280.50. Following the transaction, the executive vice president owned 104,062 shares of the company’s stock, valued at approximately $6,108,439.40. This trade represents a 17.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arthur Collins sold 4,000 shares of KB Home stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $56.96, for a total value of $227,840.00. Following the transaction, the director owned 9,157 shares of the company’s stock, valued at $521,582.72. This trade represents a 30.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in KB Home in the 2nd quarter valued at $618,489,000. Donald Smith & CO. Inc. purchased a new position in KB Home during the 2nd quarter worth $108,652,000. Norges Bank purchased a new position in KB Home during the 4th quarter worth $48,418,000. Bamco Inc. NY purchased a new position in KB Home during the 2nd quarter worth $37,500,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of KB Home in the 2nd quarter worth $35,837,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Company Profile

KB Home (NYSE: KBH) is a homebuilding company that designs, constructs and sells residential properties in the United States. Its offerings primarily include single-family homes, with communities and floor plans intended for first-time buyers, move-up buyers and other owner-occupants. The company also provides homebuyers with opportunities to personalize selected features and finishes through its build-to-order approach.

The company operates in several major housing markets across the United States, including locations in Arizona, California, Colorado, Florida, Idaho, Nevada, North Carolina, South Carolina, Texas and Washington.