Citizens Jmp Cuts KB Home (NYSE:KBH) Price Target to $70.00

KB Home (NYSE:KBH) had its price target cut by Citizens Jmp from $77.00 to $70.00 in a research report report published on Wednesday,Benzinga reports. They currently have a market outperform rating on the construction company’s stock.

A number of other brokerages have also recently issued reports on KBH. UBS Group lifted their target price on shares of KB Home from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Truist Financial cut their price objective on KB Home from $56.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, September 16th. Citigroup reaffirmed an “outperform” rating on shares of KB Home in a research note on Wednesday. Barclays lowered their target price on KB Home from $57.00 to $49.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Bank of America dropped their price target on KB Home from $56.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.00.

KB Home Stock Up 0.6%

Shares of KBH stock opened at $47.94 on Wednesday. KB Home has a fifty-two week low of $44.03 and a fifty-two week high of $67.57. The stock has a market cap of $2.94 billion, a P/E ratio of 13.50, a P/E/G ratio of 2.49 and a beta of 1.34. The business has a fifty day simple moving average of $53.64 and a 200-day simple moving average of $53.26.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, September 22nd. The construction company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.17. KB Home had a return on equity of 6.56% and a net margin of 4.39%.The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company posted $1.61 EPS. The business’s revenue was down 20.0% on a year-over-year basis. On average, sell-side analysts anticipate that KB Home will post 3.23 earnings per share for the current year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. KB Home’s payout ratio is 28.17%.

Insider Buying and Selling

In related news, Director Arthur Collins sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $56.96, for a total transaction of $227,840.00. Following the transaction, the director owned 9,157 shares of the company’s stock, valued at approximately $521,582.72. This represents a 30.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Albert Praw sold 22,015 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $58.70, for a total transaction of $1,292,280.50. Following the transaction, the executive vice president directly owned 104,062 shares in the company, valued at $6,108,439.40. The trade was a 17.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.69% of the company’s stock.

Institutional Investors Weigh In On KB Home

Hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. increased its stake in KB Home by 3.5% in the second quarter. QRG Capital Management Inc. now owns 7,446 shares of the construction company’s stock valued at $466,000 after purchasing an additional 252 shares during the last quarter. Van Hulzen Asset Management LLC acquired a new stake in KB Home in the 2nd quarter worth about $563,000. Engineers Gate Manager LP acquired a new stake in KB Home in the 2nd quarter worth about $658,000. Integrated Wealth Concepts LLC purchased a new stake in KB Home in the 2nd quarter valued at about $73,000. Finally, Nykredit A S purchased a new stake in KB Home in the 2nd quarter valued at about $152,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

About KB Home

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.