KB Home (NYSE:KBH) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

KB Home (NYSE:KBH)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $55.72 and traded as high as $56.82. KB Home shares last traded at $56.3710, with a volume of 1,103,333 shares trading hands.

Analysts Set New Price Targets

KBH has been the subject of several analyst reports. Wells Fargo & Company lifted their price target on shares of KB Home from $50.00 to $52.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 24th. Truist Financial increased their price objective on shares of KB Home from $50.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, June 24th. The Goldman Sachs Group reduced their price objective on shares of KB Home from $65.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. UBS Group lifted their target price on shares of KB Home from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $77.00 target price on shares of KB Home in a research report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.17.

KB Home Stock Up 2.2%

The stock has a market cap of $3.46 billion, a P/E ratio of 19.64, a PEG ratio of 9.15 and a beta of 1.34. The stock has a fifty day simple moving average of $53.91 and a 200-day simple moving average of $55.72.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, June 23rd. The construction company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. The business’s revenue was down 27.3% compared to the same quarter last year. During the same period last year, the company earned $1.50 earnings per share. Sell-side analysts anticipate that KB Home will post 3.3 earnings per share for the current year.

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. KB Home’s payout ratio is currently 34.84%.

Institutional Investors Weigh In On KB Home

Hedge funds have recently bought and sold shares of the company. Vista Investment Management increased its holdings in shares of KB Home by 3.5% in the fourth quarter. Vista Investment Management now owns 5,117 shares of the construction company’s stock worth $289,000 after acquiring an additional 175 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of KB Home by 80.0% during the 1st quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of KB Home by 73.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock valued at $33,000 after purchasing an additional 250 shares in the last quarter. Nebula Research & Development LLC grew its position in shares of KB Home by 6.3% in the 2nd quarter. Nebula Research & Development LLC now owns 4,402 shares of the construction company’s stock valued at $233,000 after purchasing an additional 262 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of KB Home by 5.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 5,299 shares of the construction company’s stock valued at $337,000 after purchasing an additional 274 shares during the period. 96.09% of the stock is currently owned by institutional investors and hedge funds.

About KB Home

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.