KB Home (NYSE:KBH) Hits New 52-Week Low – Here’s What Happened

Shares of KB Home (NYSE:KBH) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $58.95 and last traded at $59.14, with a volume of 311805 shares trading hands. The stock had previously closed at $61.27.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on KBH shares. Evercore ISI raised their price objective on KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. Wells Fargo & Company lowered their price objective on KB Home from $65.00 to $63.00 and set an “underweight” rating for the company in a research note on Monday, March 10th. Seaport Res Ptn upgraded KB Home from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. The Goldman Sachs Group lowered their price objective on KB Home from $81.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Finally, UBS Group decreased their target price on KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $75.21.

KB Home Trading Down 2.2 %

The firm has a market cap of $4.28 billion, a P/E ratio of 7.04, a P/E/G ratio of 0.90 and a beta of 1.89. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51. The firm has a fifty day moving average of $64.29 and a 200-day moving average of $73.34.

KB Home (NYSE:KBH) last announced its earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.08. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.99 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.85 EPS. Equities research analysts forecast that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Thursday, February 6th. KB Home’s payout ratio is 11.81%.

Insider Transactions at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the completion of the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.44% of the company’s stock.

Institutional Trading of KB Home

Hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its stake in KB Home by 24.5% during the third quarter. Barclays PLC now owns 196,229 shares of the construction company’s stock valued at $16,816,000 after buying an additional 38,638 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in KB Home by 22.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after buying an additional 164,010 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of KB Home in the third quarter worth approximately $956,000. Blue Trust Inc. lifted its position in shares of KB Home by 35.9% in the fourth quarter. Blue Trust Inc. now owns 1,727 shares of the construction company’s stock worth $113,000 after purchasing an additional 456 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of KB Home by 24.7% in the third quarter. Cerity Partners LLC now owns 38,742 shares of the construction company’s stock worth $3,320,000 after purchasing an additional 7,679 shares in the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

About KB Home

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.