Barclays Cuts KB Home (NYSE:KBH) Price Target to $49.00

KB Home (NYSE:KBH) had its price target trimmed by Barclays from $57.00 to $49.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

A number of other equities analysts also recently commented on KBH. Weiss Ratings upgraded KB Home from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Royal Bank Of Canada restated a “sector perform” rating and issued a $53.00 target price on shares of KB Home in a report on Wednesday, June 24th. Citigroup reaffirmed an “outperform” rating on shares of KB Home in a research note on Wednesday. UBS Group lifted their price target on KB Home from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, Bank of America lowered their price target on shares of KB Home from $56.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $56.00.

KB Home Trading Up 0.6%

KBH stock opened at $47.94 on Wednesday. The firm has a 50-day moving average of $53.64 and a two-hundred day moving average of $53.26. KB Home has a 12 month low of $44.03 and a 12 month high of $67.57. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 2.49 and a beta of 1.34.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, September 22nd. The construction company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.17. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.30 billion. KB Home had a return on equity of 6.56% and a net margin of 4.39%.The business’s revenue for the quarter was down 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 EPS. As a group, equities analysts forecast that KB Home will post 3.23 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid 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 yield of 2.1%. KB Home’s dividend payout ratio (DPR) is 28.17%.

Insiders Place Their Bets

In other news, EVP Albert Z. Praw sold 22,015 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $58.70, for a total transaction of $1,292,280.50. Following the completion of the transaction, the executive vice president directly owned 104,062 shares in the company, valued at approximately $6,108,439.40. This represents a 17.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the director directly owned 9,157 shares of the company’s stock, valued at approximately $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. 4.69% of the stock is owned by insiders.

Institutional Investors Weigh In On KB Home

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. boosted its position in shares of KB Home by 80.0% during the 1st quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock worth $26,000 after purchasing an additional 220 shares during the period. Eastern Bank purchased a new stake in KB Home in the second quarter valued at approximately $26,000. Rothschild Investment LLC lifted its stake in KB Home by 391.0% during the fourth quarter. Rothschild Investment LLC now owns 820 shares of the construction company’s stock worth $46,000 after purchasing an additional 653 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in KB Home during the second quarter worth $46,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of KB Home during the second quarter worth $73,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

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.