Bank of America Cuts KB Home (NYSE:KBH) Price Target to $62.00

KB Home (NYSE:KBH) had its price target trimmed by Bank of America from $67.00 to $62.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Several other equities research analysts have also recently commented on KBH. Barclays dropped their price objective on KB Home from $85.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. The Goldman Sachs Group reduced their price target on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Seaport Res Ptn upgraded shares of KB Home from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Wells Fargo & Company cut their target price on shares of KB Home from $65.00 to $63.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. Finally, Keefe, Bruyette & Woods lowered their price target on KB Home from $85.00 to $76.00 and set a “market perform” rating on the stock in a report on Friday, January 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $71.21.

KB Home Stock Up 0.3 %

Shares of KB Home stock opened at $59.29 on Tuesday. The company has a 50-day simple moving average of $63.63 and a two-hundred day simple moving average of $72.62. The stock has a market capitalization of $4.24 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. KB Home has a 52-week low of $56.41 and a 52-week high of $89.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51.

KB Home (NYSE:KBH) last released its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.07). KB Home had a net margin of 9.45% and a return on equity of 16.46%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the company posted $1.76 earnings per share. The business’s revenue was down 5.2% compared to the same quarter last year. On average, analysts anticipate that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Thursday, February 6th. KB Home’s dividend payout ratio is presently 12.20%.

Insiders Place Their Bets

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,370,708.21. The trade was a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.89% of the company’s stock.

Institutional Trading of KB Home

Several institutional investors and hedge funds have recently modified their holdings of the company. Xponance Inc. boosted its holdings in KB Home by 1.7% in the 4th quarter. Xponance Inc. now owns 9,815 shares of the construction company’s stock worth $645,000 after buying an additional 163 shares during the period. Principal Securities Inc. boosted its stake in shares of KB Home by 43.6% in the fourth quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock worth $39,000 after acquiring an additional 179 shares during the period. Blue Trust Inc. grew its position in shares of KB Home by 15.3% during the fourth quarter. Blue Trust Inc. now owns 1,465 shares of the construction company’s stock worth $96,000 after purchasing an additional 194 shares in the last quarter. Amundi raised its stake in KB Home by 29.6% during the 4th quarter. Amundi now owns 880 shares of the construction company’s stock valued at $58,000 after purchasing an additional 201 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in KB Home by 0.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,019 shares of the construction company’s stock worth $2,433,000 after purchasing an additional 206 shares in the last quarter. 96.09% of the stock is currently owned by 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.