KB Home’s (KBH) Outperform Rating Reaffirmed at Wedbush
KB Home (NYSE:KBH)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a report issued on Tuesday. They currently have a $22.00 price objective on the stock. Wedbush’s price target suggests a potential upside of 38.02% from the company’s current price.
A number of other research analysts have also commented on the company. MKM Partners set a $13.00 price target on KB Home and gave the company a “hold” rating in a report on Wednesday, September 14th. Zacks Investment Research raised KB Home from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Monday, July 18th. Buckingham Research raised KB Home from a “neutral” rating to a “buy” rating in a report on Monday, September 19th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $15.00 price target (up from $14.00) on shares of KB Home in a report on Sunday, June 26th. Finally, Wells Fargo & Co. initiated coverage on KB Home in a report on Wednesday, September 28th. They set a “market perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $15.43.
Shares of KB Home (NYSE:KBH) traded up 0.75% on Tuesday, hitting $16.06. 776,270 shares of the stock traded hands. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 13.90 and a beta of 1.99. The company’s 50 day moving average is $15.64 and its 200 day moving average is $14.94. KB Home has a one year low of $9.04 and a one year high of $16.76.
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KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, September 20th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $913.30 million for the quarter. KB Home had a return on equity of 6.77% and a net margin of 3.31%. KB Home’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the business posted $0.23 earnings per share. On average, equities analysts forecast that KB Home will post $1.33 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd will be issued a dividend of $0.025 per share. The ex-dividend date is Tuesday, November 1st. This represents a $0.10 annualized dividend and a dividend yield of 0.63%. KB Home’s dividend payout ratio is 8.62%.
In other news, CEO Jeffrey T. Mezger sold 230,000 shares of KB Home stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $16.43, for a total transaction of $3,778,900.00. Following the completion of the sale, the chief executive officer now directly owns 606,716 shares in the company, valued at approximately $9,968,343.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey T. Mezger sold 110,000 shares of KB Home stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $16.39, for a total value of $1,802,900.00. Following the sale, the chief executive officer now owns 606,716 shares of the company’s stock, valued at $9,944,075.24. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its stake in shares of KB Home by 2,051.7% in the second quarter. BNP Paribas Arbitrage SA now owns 39,011 shares of the company’s stock valued at $593,000 after buying an additional 37,198 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of KB Home by 1,268.6% in the first quarter. Prudential Financial Inc. now owns 797,468 shares of the company’s stock valued at $11,388,000 after buying an additional 739,200 shares in the last quarter. BlackRock Inc. raised its stake in shares of KB Home by 4.0% in the first quarter. BlackRock Inc. now owns 33,585 shares of the company’s stock valued at $480,000 after buying an additional 1,290 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of KB Home by 254.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,212,894 shares of the company’s stock valued at $17,320,000 after buying an additional 871,100 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of KB Home by 24.3% in the second quarter. KBC Group NV now owns 110,836 shares of the company’s stock valued at $1,686,000 after buying an additional 21,660 shares in the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.
About KB Home
KB Home is a homebuilding company in the United States. The Company constructs and sells a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. Its segments include the West Coast, Southwest, Central and Southeast homebuilding segments, and financial services segment.
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