An issue of KB Home (NYSE:KBH) debt fell 0.8% as a percentage of its face value during trading on Tuesday. The debt issue has a 7.5% coupon and is set to mature on September 15, 2022. The bonds in the issue are now trading at $107.71 and were trading at $108.75 last week. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.
KBH has been the subject of a number of recent research reports. MKM Partners set a $13.00 target price on shares of KB Home and gave the stock a “hold” rating in a report on Wednesday, September 14th. Wedbush initiated coverage on shares of KB Home in a report on Monday, September 19th. They issued an “outperform” rating and a $22.00 target price for the company. Zacks Investment Research upgraded shares of KB Home from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Monday, July 18th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $15.00 target price (up from $14.00) on shares of KB Home in a report on Sunday, June 26th. Finally, Buckingham Research upgraded shares of KB Home from a “neutral” rating to a “buy” rating in a report on Monday, September 19th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $15.40.
KB Home (NYSE:KBH) opened at 15.70 on Wednesday. The company has a 50-day moving average of $15.57 and a 200 day moving average of $14.80. The firm has a market cap of $1.33 billion, a P/E ratio of 13.65 and a beta of 1.99. KB Home has a one year low of $9.04 and a one year high of $16.76.
KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, September 20th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. The business earned $913.30 million during the quarter. KB Home had a return on equity of 6.77% and a net margin of 3.31%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 EPS. Equities research analysts expect that KB Home will post $1.33 earnings per share for the current fiscal year.
In other news, CEO Jeffrey T. Mezger sold 110,000 shares of KB Home stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $16.39, for a total value of $1,802,900.00. Following the completion of the transaction, the chief executive officer now owns 606,716 shares in the company, valued at approximately $9,944,075.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey T. Mezger sold 230,000 shares of KB Home stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $16.43, for a total value of $3,778,900.00. Following the completion of the transaction, the chief executive officer now owns 606,716 shares of the company’s stock, valued at approximately $9,968,343.88. The disclosure for this sale can be found here. 8.60% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Amalgamated Bank bought a new position in shares of KB Home during the second quarter valued at about $161,000. Teacher Retirement System of Texas boosted its stake in KB Home by 5.3% in the second quarter. Teacher Retirement System of Texas now owns 10,689 shares of the company’s stock valued at $163,000 after buying an additional 538 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in KB Home during the second quarter valued at $166,000. Wedbush Securities Inc. acquired a new stake in KB Home during the second quarter valued at $189,000. Finally, Seven Eight Capital LLC acquired a new stake in KB Home during the first quarter valued at $219,000. Institutional investors and hedge funds own 92.39% of the company’s stock.
KB Home Company Profile
KB Home is a homebuilding company in the United States. The Company constructs and sells a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. Its segments include the West Coast, Southwest, Central and Southeast homebuilding segments, and financial services segment.
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