KB Home’s (KBH) Market Outperform Rating Reiterated at Citizens Jmp

Citizens Jmp restated their market outperform rating on shares of KB Home (NYSE:KBH) in a research note published on Thursday morning,Benzinga reports. They currently have a $77.00 price objective on the construction company’s stock.

A number of other research firms also recently commented on KBH. Wells Fargo & Company lifted their target price on KB Home from $50.00 to $52.00 and gave the stock an “underweight” rating in a report on Wednesday, June 24th. Citigroup reiterated a “market outperform” rating on shares of KB Home in a report on Thursday. UBS Group raised their price target 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. Wall Street Zen upgraded shares of KB Home from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $53.00 price objective on shares of KB Home in a report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.00.

KB Home Price Performance

NYSE KBH opened at $49.11 on Thursday. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 2.54 and a beta of 1.34. The stock’s fifty day moving average price is $55.34 and its 200 day moving average price is $54.19. KB Home has a 1 year low of $44.03 and a 1 year high of $68.41.

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

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%. KB Home’s payout ratio is presently 34.84%.

Insider Transactions at KB Home

In other KB Home news, EVP Albert Praw sold 22,015 shares of the company’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 completion of the transaction, the executive vice president owned 104,062 shares in the company, valued at approximately $6,108,439.40. This represents a 17.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arthur Collins sold 4,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $56.96, for a total transaction of $227,840.00. Following the sale, the director directly owned 9,157 shares in the company, valued at approximately $521,582.72. The trade was a 30.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.69% of the company’s stock.

Institutional Trading of KB Home

Several institutional investors have recently bought and sold shares of KBH. BlackRock Inc. purchased a new position in KB Home in the 2nd quarter valued at about $618,489,000. California State Teachers Retirement System increased its stake in KB Home by 5,315.4% during the 2nd quarter. California State Teachers Retirement System now owns 4,186,082 shares of the construction company’s stock worth $262,007,000 after buying an additional 4,108,783 shares in the last quarter. Freestone Grove Partners LP acquired a new position in shares of KB Home during the third quarter valued at approximately $111,050,000. Donald Smith & CO. Inc. acquired a new position in shares of KB Home during the second quarter valued at approximately $108,652,000. Finally, Norges Bank purchased a new position in shares of KB Home in the fourth quarter valued at approximately $48,418,000. 96.09% of the stock is owned by institutional investors and hedge funds.

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.