KB Home (NYSE:KBH) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of KB Home (NYSE:KBH – Free Report) from a sell rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other equities analysts also recently commented on the company. Citigroup reissued an “outperform” rating on shares of KB Home in a research report on Wednesday, September 23rd. Stonex Financia upgraded shares of KB Home to a “hold” rating in a research note on Thursday, October 15th. Zacks Research raised shares of KB Home from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. Royal Bank Of Canada reduced their target price on shares of KB Home from $50.00 to $47.00 and set a “sector perform” rating on the stock in a report on Thursday, October 15th. Finally, Morgan Stanley started coverage on shares of KB Home in a research note on Thursday, October 1st. They issued an “underweight” rating and a $39.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $52.23.

Get Our Latest Stock Analysis on KBH

KB Home Trading Up 5.7%

Shares of NYSE KBH opened at $50.66 on Friday. The stock has a market cap of $3.08 billion, a P/E ratio of 11.78, a PEG ratio of 2.39 and a beta of 1.34. KB Home has a 12-month low of $40.92 and a 12-month high of $67.57. The business’s fifty day simple moving average is $47.93 and its 200-day simple moving average is $53.69.

KB Home (NYSE:KBH – Get Free Report) last released its earnings results on Tuesday, September 22nd. The construction company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. KB Home had a return on equity of 6.56% and a net margin of 4.39%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the business posted $1.61 earnings per share. KB Home’s revenue was down 20.0% compared to the same quarter last year. On average, equities analysts forecast that KB Home will post 3.26 EPS for the current fiscal year.

KB Home Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, November 12th. KB Home’s dividend payout ratio (DPR) is 28.17%.

Insider Activity at KB Home

In related news, EVP Albert Z. Praw sold 22,015 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $58.70, for a total value of $1,292,280.50. Following the completion of the transaction, the executive vice president directly owned 104,062 shares of the company’s stock, valued at $6,108,439.40. This represents a 17.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arthur Collins sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $56.96, for a total transaction of $227,840.00. Following the completion of the transaction, the director owned 9,157 shares in the company, valued at $521,582.72. This represents a 30.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Bessemer Group Inc. raised its stake in KB Home by 80.0% during the 1st quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock worth $26,000 after acquiring an additional 220 shares in the last quarter. Eastern Bank acquired a new position in KB Home in the second quarter valued at $26,000. Mather Group LLC. acquired a new position in KB Home in the third quarter valued at $34,000. Polaris Financial Partners purchased a new position in shares of KB Home during the third quarter worth about $43,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of KB Home during the second quarter worth about $46,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

About KB Home

(Get Free Report)

KB Home (NYSE: KBH) is a homebuilder that develops and constructs residential communities across the United States. The company primarily builds single-family homes, along with certain attached homes and townhomes, serving first-time, move-up and active-adult buyers.

KB Home offers a range of home designs, floor plans and personalization options, allowing buyers to select features and finishes during the construction process. Its activities generally include land acquisition and development, home construction, sales and customer support, with homes built in both suburban and urban communities.

Founded in 1957, KB Home operates in markets across Arizona, California, Colorado, Florida, Idaho, Nevada, North Carolina, South Carolina, Texas and Washington.

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