KB Home (NYSE:KBH) Price Target Lowered to $57.00 at Wells Fargo & Company

KB Home (NYSE:KBH) had its price objective cut by Wells Fargo & Company from $63.00 to $57.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an underweight rating on the construction company’s stock.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods dropped their price target on KB Home from $85.00 to $76.00 and set a “market perform” rating on the stock in a research report on Friday, January 17th. Barclays dropped their target price on KB Home from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Raymond James reissued an “outperform” rating and set a $80.00 price target (down previously from $93.00) on shares of KB Home in a report on Tuesday, January 21st. UBS Group dropped their price objective on shares of KB Home from $97.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, The Goldman Sachs Group cut their price objective on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $72.13.

KB Home Stock Performance

Shares of 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 12-month low of $56.41 and a 12-month high of $89.70. The business’s fifty day moving average price is $63.99 and its 200 day moving average price is $72.81. The stock has a market capitalization of $4.18 billion, a PE ratio of 6.91, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89.

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

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Thursday, February 6th. KB Home’s dividend payout ratio (DPR) is presently 11.81%.

Insider Buying and Selling

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.89% of the stock is owned by corporate insiders.

Institutional Trading of KB Home

Several institutional investors have recently modified their holdings of the company. FMR LLC raised its position in KB Home by 47.9% in the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after acquiring an additional 1,752,498 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of KB Home in the 3rd quarter worth approximately $89,899,000. Norges Bank bought a new stake in shares of KB Home in the 4th quarter worth approximately $49,638,000. Hennessy Advisors Inc. acquired a new stake in KB Home during the fourth quarter valued at approximately $44,118,000. Finally, Two Sigma Advisers LP boosted its holdings in KB Home by 4,408.6% during the fourth quarter. Two Sigma Advisers LP now owns 523,000 shares of the construction company’s stock worth $34,372,000 after buying an additional 511,400 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

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.