KB Home (NYSE:KBH) Reaches New 1-Year High at $89.37

KB Home (NYSE:KBH) reached a new 52-week high during trading on Wednesday . The company traded as high as $89.37 and last traded at $88.29, with a volume of 617194 shares changing hands. The stock had previously closed at $86.75.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Evercore ISI boosted their price target on shares of KB Home from $86.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods boosted their target price on shares of KB Home from $74.00 to $77.00 and gave the stock a “market perform” rating in a report on Thursday, June 20th. Royal Bank of Canada downgraded shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target for the company. in a report on Thursday, September 5th. Wedbush reissued a “neutral” rating and set a $67.00 price objective on shares of KB Home in a research note on Thursday, September 12th. Finally, Wells Fargo & Company upped their price objective on KB Home from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Monday, September 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, KB Home has a consensus rating of “Hold” and a consensus target price of $73.71.

KB Home Stock Down 0.1 %

The stock has a market capitalization of $6.51 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 0.80 and a beta of 1.81. The stock’s 50 day moving average price is $81.06 and its 200-day moving average price is $72.69.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, June 18th. The construction company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.37. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.64 billion. KB Home had a net margin of 9.43% and a return on equity of 15.66%. As a group, sell-side analysts predict that KB Home will post 8.38 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Thursday, August 8th. KB Home’s dividend payout ratio (DPR) is presently 13.23%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KBH. Heritage Wealth Management Inc. bought a new position in shares of KB Home during the second quarter valued at approximately $575,000. Sanctuary Advisors LLC bought a new stake in KB Home during the 2nd quarter valued at $691,000. Cetera Investment Advisers increased its holdings in shares of KB Home by 3.1% in the 2nd quarter. Cetera Investment Advisers now owns 23,097 shares of the construction company’s stock valued at $1,621,000 after acquiring an additional 698 shares during the period. Invst LLC raised its position in shares of KB Home by 6.4% in the 2nd quarter. Invst LLC now owns 12,547 shares of the construction company’s stock worth $846,000 after acquiring an additional 751 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of KB Home by 20.9% during the 2nd quarter. Creative Planning now owns 23,662 shares of the construction company’s stock worth $1,661,000 after purchasing an additional 4,096 shares during 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.