KB Home (NYSE:KBH) Price Target Cut to $82.00 by Analysts at JPMorgan Chase & Co.

KB Home (NYSE:KBH) had its price objective trimmed by JPMorgan Chase & Co. from $92.50 to $82.00 in a report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

A number of other equities analysts have also issued reports on the stock. The Goldman Sachs Group increased their target price on shares of KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd. Barclays lowered shares of KB Home from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $99.00 to $85.00 in a research note on Wednesday. Bank of America raised their target price on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Royal Bank of Canada cut KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a report on Thursday, September 5th. Finally, Wedbush increased their price objective on KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, KB Home has an average rating of “Hold” and a consensus price target of $79.92.

KB Home Trading Down 2.9 %

NYSE KBH opened at $71.42 on Friday. The company has a 50-day moving average price of $80.04 and a two-hundred day moving average price of $78.38. KB Home has a 52 week low of $58.05 and a 52 week high of $89.70. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 0.59 and a beta of 1.81.

KB Home (NYSE:KBH) last posted its earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business earned $1.80 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.40%. KB Home’s dividend payout ratio is presently 12.82%.

Insider Buying and Selling at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $79.40, for a total transaction of $2,183,500.00. Following the completion of the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KBH. CWM LLC increased its stake in shares of KB Home by 26.6% during the 2nd quarter. CWM LLC now owns 1,792 shares of the construction company’s stock worth $126,000 after purchasing an additional 377 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of KB Home by 190.8% in the second quarter. Assenagon Asset Management S.A. now owns 104,708 shares of the construction company’s stock worth $7,348,000 after buying an additional 68,697 shares during the last quarter. RBA Wealth Management LLC acquired a new position in shares of KB Home during the 2nd quarter valued at about $4,265,000. Bank of New York Mellon Corp raised its stake in shares of KB Home by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company’s stock valued at $61,250,000 after acquiring an additional 3,993 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in KB Home by 7.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,341 shares of the construction company’s stock worth $1,638,000 after purchasing an additional 1,523 shares during the last quarter. Hedge funds and other institutional investors 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.