KB Home (NYSE:KBH) Price Target Cut to $71.00 by Analysts at Bank of America

KB Home (NYSE:KBH) had its price objective lowered by Bank of America from $76.00 to $71.00 in a research report report published on Monday,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

Several other research firms have also issued reports on KBH. Keefe, Bruyette & Woods dropped their price target on shares of 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. Royal Bank of Canada raised shares of KB Home from an “underperform” rating to a “sector perform” rating and dropped their price objective for the company from $70.00 to $67.00 in a research report on Friday, January 10th. UBS Group dropped their price objective on shares of KB Home from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI raised 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. Finally, Wells Fargo & Company lowered their price target on shares of KB Home from $74.00 to $65.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $76.21.

KB Home Trading Down 1.8 %

NYSE KBH opened at $67.15 on Monday. The firm’s fifty day moving average price is $71.27 and its two-hundred day moving average price is $77.98. KB Home has a 1 year low of $58.15 and a 1 year high of $89.70. The firm has a market capitalization of $4.92 billion, a P/E ratio of 7.93, a price-to-earnings-growth ratio of 0.93 and a beta of 1.86.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.08. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the prior year, the firm posted $1.85 earnings per share. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, research analysts anticipate that KB Home will post 8.5 EPS for the current fiscal year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.49%. KB Home’s payout ratio is 11.81%.

Institutional Investors Weigh In On KB Home

A number of large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in KB Home by 0.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 21,494 shares of the construction company’s stock worth $1,842,000 after buying an additional 161 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of KB Home by 0.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 18,578 shares of the construction company’s stock valued at $1,304,000 after acquiring an additional 162 shares in the last quarter. CWM LLC increased its stake in shares of KB Home by 10.2% in the 3rd quarter. CWM LLC now owns 1,975 shares of the construction company’s stock valued at $169,000 after acquiring an additional 183 shares in the last quarter. Jupiter Wealth Management LLC increased its stake in KB Home by 1.2% during the 3rd quarter. Jupiter Wealth Management LLC now owns 18,891 shares of the construction company’s stock valued at $1,619,000 after purchasing an additional 225 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in KB Home by 23.4% during the 3rd quarter. Blue Trust Inc. now owns 1,271 shares of the construction company’s stock valued at $109,000 after purchasing an additional 241 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.