Bank of America Cuts KB Home (NYSE:KBH) Price Target to $54.00

KB Home (NYSE:KBH) had its target price decreased by Bank of America from $56.00 to $54.00 in a research note published on Wednesday morning, MarketBeat reports. Bank of America currently has a neutral rating on the construction company’s stock.

Several other research firms have also commented on KBH. Weiss Ratings raised shares of KB Home from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Wall Street Zen raised KB Home from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Citizens Jmp reiterated a “market outperform” rating and set a $77.00 price objective on shares of KB Home in a research note on Thursday, September 10th. Truist Financial dropped their target price on KB Home from $56.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, September 16th. Finally, UBS Group increased their target price on KB Home from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.00.

KB Home Price Performance

Shares of KBH stock opened at $47.94 on Wednesday. The business has a 50-day moving average of $53.64 and a 200 day moving average of $53.26. KB Home has a 1-year low of $44.03 and a 1-year high of $67.57. The stock has a market capitalization of $2.94 billion, a PE ratio of 13.50, a P/E/G ratio of 2.49 and a beta of 1.34.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, September 22nd. The construction company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the firm earned $1.61 EPS. The business’s quarterly revenue was down 20.0% on a year-over-year basis. Analysts anticipate that KB Home will post 3.23 EPS for the current year.

KB Home Dividend Announcement

The business 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 was Thursday, August 6th. This represents a $1.00 annualized dividend and a yield of 2.1%. KB Home’s dividend payout ratio is currently 28.17%.

Insider Transactions at KB Home

In related news, Director Arthur Collins sold 4,000 shares of the 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 in the company, valued at $521,582.72. This represents a 30.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Albert Z. Praw sold 22,015 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 104,062 shares in the company, valued at $6,108,439.40. This represents a 17.46% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.69% of the company’s stock.

Hedge Funds Weigh In On KB Home

A number of institutional investors and hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. increased its position in KB Home by 3.5% during the second quarter. QRG Capital Management Inc. now owns 7,446 shares of the construction company’s stock valued at $466,000 after acquiring an additional 252 shares during the last quarter. Van Hulzen Asset Management LLC purchased a new position in KB Home in the second quarter worth about $563,000. Engineers Gate Manager LP bought a new stake in shares of KB Home during the 2nd quarter valued at about $658,000. Integrated Wealth Concepts LLC purchased a new stake in shares of KB Home during the 2nd quarter valued at about $73,000. Finally, Nykredit A S bought a new position in shares of KB Home in the 2nd quarter worth approximately $152,000. 96.09% of the stock is currently 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.