JPMorgan Chase & Co. Cuts KB Home (NYSE:KBH) Price Target to $50.00

by · The Markets Daily

KB Home (NYSE:KBH – Free Report) had its price objective cut by JPMorgan Chase & Co. from $71.00 to $50.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

KBH has been the topic of several other reports. Wells Fargo & Company decreased their price objective on shares of KB Home from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Friday, December 19th. Raymond James Financial lowered KB Home from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 24th. Oppenheimer started coverage on KB Home in a research report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Bank of America dropped their price objective on KB Home from $62.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday, December 22nd. Finally, Zacks Research downgraded KB Home from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.82.

View Our Latest Stock Analysis on KBH

KB Home Stock Down 1.0%

KBH stock opened at $56.38 on Monday. The business’s 50-day moving average price is $61.41 and its 200-day moving average price is $60.28. The stock has a market cap of $3.65 billion, a P/E ratio of 11.48, a PEG ratio of 2.52 and a beta of 1.40. KB Home has a twelve month low of $48.90 and a twelve month high of $72.64.

KB Home (NYSE:KBH – Get Free Report) last released its earnings results on Thursday, December 18th. The construction company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.13. KB Home had a net margin of 6.88% and a return on equity of 11.40%. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the firm posted $2.52 EPS. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. On average, equities research analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, November 13th. KB Home’s dividend payout ratio (DPR) is currently 20.37%.

Insider Activity

In other news, EVP Albert Z. Praw sold 20,284 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $60.08, for a total transaction of $1,218,662.72. Following the sale, the executive vice president directly owned 104,062 shares of the company’s stock, valued at $6,252,044.96. This represents a 16.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.89% of the stock is owned by company insiders.

Institutional Trading of KB Home

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fulcrum Asset Management LLP purchased a new position in KB Home during the third quarter worth $36,000. Jones Financial Companies Lllp lifted its holdings in shares of KB Home by 44.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company’s stock worth $49,000 after acquiring an additional 240 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of KB Home during the 2nd quarter worth about $44,000. SBI Securities Co. Ltd. grew its holdings in KB Home by 2,848.4% during the 3rd quarter. SBI Securities Co. Ltd. now owns 914 shares of the construction company’s stock valued at $58,000 after purchasing an additional 883 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in KB Home by 56.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 944 shares of the construction company’s stock valued at $60,000 after purchasing an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

About KB Home

(Get Free Report)

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.

Read More