KB Home (NYSE:KBH) Given New $63.00 Price Target at Royal Bank of Canada

KB Home (NYSE:KBH) had its price target trimmed by Royal Bank of Canada from $67.00 to $63.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a sector perform rating on the construction company’s stock.

KBH has been the subject of several other research reports. Seaport Res Ptn raised KB Home from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Bank of America decreased their target price on shares of KB Home from $67.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday. Evercore ISI boosted their price target on shares of KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods decreased their price objective on shares of KB Home from $85.00 to $76.00 and set a “market perform” rating for the company in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $72.13.

KB Home Trading Down 5.2 %

KBH opened at $58.56 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83. KB Home has a fifty-two week low of $56.41 and a fifty-two week high of $89.70. The company’s 50 day moving average price is $63.99 and its two-hundred day moving average price is $72.81. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 6.91, a PEG ratio of 0.90 and a beta of 1.89.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Monday, March 24th. The construction company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.51 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. KB Home’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 EPS. As a group, research analysts predict that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Thursday, February 6th. KB Home’s payout ratio is 11.81%.

Insiders Place Their Bets

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,370,708.21. The trade was a 44.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KBH. Jones Financial Companies Lllp raised its holdings in shares of KB Home by 65.6% in the 4th quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock worth $36,000 after acquiring an additional 214 shares during the last quarter. Principal Securities Inc. increased its holdings in KB Home by 43.6% during the 4th quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock worth $39,000 after purchasing an additional 179 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of KB Home in the third quarter worth approximately $59,000. Versant Capital Management Inc lifted its holdings in shares of KB Home by 275.7% in the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after purchasing an additional 557 shares in the last quarter. Finally, Amundi lifted its holdings in shares of KB Home by 29.6% in the fourth quarter. Amundi now owns 880 shares of the construction company’s stock valued at $58,000 after purchasing an additional 201 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Company Profile

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.