KB Home (KBH) Shares Gap Up After Better-Than-Expected Earnings

KB Home (NYSE:KBH)’s share price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $26.29, but opened at $28.84. KB Home shares last traded at $29.52, with a volume of 5645039 shares.

The construction company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.11. The firm had revenue of $871.60 million for the quarter, compared to the consensus estimate of $878.77 million. KB Home had a return on equity of 11.17% and a net margin of 2.15%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 EPS.

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Several equities research analysts recently issued reports on KBH shares. ValuEngine downgraded KB Home from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 1st. Credit Suisse Group reiterated a “neutral” rating and issued a $38.00 price objective (up previously from $31.00) on shares of KB Home in a report on Monday, January 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $27.00 price objective (up previously from $25.50) on shares of KB Home in a report on Tuesday, December 19th. Zacks Investment Research upgraded KB Home from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective on the stock in a report on Tuesday, January 9th. Finally, Citigroup downgraded KB Home from a “neutral” rating to a “sell” rating and set a $27.00 price objective on the stock. in a report on Tuesday, January 2nd. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $30.19.

In other news, SVP Thomas F. Norton sold 47,179 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $30.32, for a total transaction of $1,430,467.28. Following the completion of the transaction, the senior vice president now directly owns 103,562 shares of the company’s stock, valued at approximately $3,139,999.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jeff Kaminski sold 125,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $32.53, for a total value of $4,066,250.00. Following the transaction, the chief financial officer now directly owns 237,775 shares of the company’s stock, valued at $7,734,820.75. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Elkfork Partners LLC acquired a new position in shares of KB Home during the 4th quarter worth about $331,000. Xact Kapitalforvaltning AB acquired a new position in shares of KB Home during the 4th quarter worth about $245,000. Vanguard Capital Wealth Advisors acquired a new position in shares of KB Home during the 4th quarter worth about $262,000. MetLife Investment Advisors LLC acquired a new position in shares of KB Home during the 4th quarter worth about $2,909,000. Finally, PEAK6 Investments L.P. boosted its position in shares of KB Home by 77.7% during the 4th quarter. PEAK6 Investments L.P. now owns 22,035 shares of the construction company’s stock worth $704,000 after acquiring an additional 9,635 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

The firm has a market cap of $2,502.22, a PE ratio of 34.33, a PEG ratio of 0.73 and a beta of 1.54. The company has a debt-to-equity ratio of 1.21, a current ratio of 5.36 and a quick ratio of 1.22.

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About KB Home

KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.

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