KB Home (KBH) Raised to “Outperform” at Royal Bank of Canada

KB Home (NYSE:KBH) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report released on Thursday, The Fly reports.

KBH has been the subject of a number of other research reports. Credit Suisse Group reissued a “sell” rating and issued a $17.00 target price on shares of KB Home in a research report on Friday, February 15th. Raymond James lowered KB Home from an “outperform” rating to a “market perform” rating and set a $23.67 target price for the company. in a research report on Monday, February 25th. Buckingham Research boosted their target price on KB Home from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. Wedbush reissued a “neutral” rating and issued a $22.00 target price on shares of KB Home in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. raised KB Home from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $20.50 to $23.00 in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. KB Home currently has a consensus rating of “Hold” and a consensus target price of $25.48.

Shares of NYSE:KBH opened at $26.89 on Thursday. KB Home has a fifty-two week low of $16.82 and a fifty-two week high of $28.33. The company has a quick ratio of 0.98, a current ratio of 5.37 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 1.20 and a beta of 1.58.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, March 26th. The construction company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.06. KB Home had a return on equity of 13.34% and a net margin of 6.05%. The business had revenue of $811.50 million during the quarter, compared to analyst estimates of $828.56 million. During the same quarter in the previous year, the firm earned $2.12 EPS. KB Home’s revenue was down 6.9% on a year-over-year basis. Sell-side analysts forecast that KB Home will post 2.63 earnings per share for the current year.

In related news, CEO Jeffrey T. Mezger sold 183,257 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $25.41, for a total transaction of $4,656,560.37. Following the completion of the transaction, the chief executive officer now directly owns 1,056,532 shares in the company, valued at approximately $26,846,478.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO William R. Hollinger sold 68,147 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $26.16, for a total value of $1,782,725.52. Following the transaction, the chief accounting officer now owns 228,174 shares of the company’s stock, valued at $5,969,031.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 983,838 shares of company stock valued at $25,116,916. Corporate insiders own 7.32% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Liberty Wealth Management LLC bought a new position in shares of KB Home during the 4th quarter valued at approximately $25,000. Meeder Asset Management Inc. grew its stake in shares of KB Home by 2,537.0% during the 4th quarter. Meeder Asset Management Inc. now owns 1,424 shares of the construction company’s stock valued at $27,000 after acquiring an additional 1,370 shares during the period. Financial Architects Inc grew its stake in shares of KB Home by 97.8% during the 4th quarter. Financial Architects Inc now owns 1,622 shares of the construction company’s stock valued at $31,000 after acquiring an additional 802 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of KB Home by 1,810.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 636,622 shares of the construction company’s stock valued at $33,000 after acquiring an additional 603,291 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in shares of KB Home by 2,436.3% during the 1st quarter. Quadrant Capital Group LLC now owns 2,029 shares of the construction company’s stock valued at $47,000 after acquiring an additional 1,949 shares during the period. Institutional investors own 86.45% of the company’s stock.

KB Home Company Profile

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

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