KB Home (NYSE:KBH) Given New $65.00 Price Target at Wells Fargo & Company

KB Home (NYSE:KBH) had its target price reduced by Wells Fargo & Company from $70.00 to $65.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an underweight rating on the construction company’s stock.

KBH has been the topic of a number of other reports. UBS Group dropped their price objective on KB Home from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Seaport Res Ptn raised KB Home from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Bank of America cut their price target on KB Home from $76.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday. Barclays decreased their price objective on KB Home from $85.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods cut their target price on KB Home from $85.00 to $76.00 and set a “market perform” rating on the stock in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.21.

KB Home Trading Up 2.5 %

Shares of KBH stock opened at $68.80 on Tuesday. The stock has a 50-day moving average of $71.05 and a 200-day moving average of $77.91. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 0.93 and a beta of 1.86. KB Home has a 1-year low of $58.15 and a 1-year high of $89.70.

KB Home (NYSE:KBH) last released 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 during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the business earned $1.85 EPS. The company’s revenue was up 19.5% compared to the same quarter last year. Sell-side analysts forecast that KB Home will post 8.5 earnings per share for the current year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, February 6th. KB Home’s dividend payout ratio (DPR) is presently 11.81%.

Insider Buying and Selling at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total value of $1,891,175.00. Following the transaction, the chief financial officer now owns 34,473 shares in the company, valued at $2,370,708.21. The trade was a 44.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.44% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KBH. Thrivent Financial for Lutherans increased its position in shares of KB Home by 0.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 18,578 shares of the construction company’s stock valued at $1,304,000 after purchasing an additional 162 shares during the last quarter. Creative Planning increased its holdings in KB Home by 20.9% during the second quarter. Creative Planning now owns 23,662 shares of the construction company’s stock worth $1,661,000 after buying an additional 4,096 shares during the last quarter. Cetera Investment Advisers raised its position in KB Home by 3.1% in the second quarter. Cetera Investment Advisers now owns 23,097 shares of the construction company’s stock worth $1,621,000 after acquiring an additional 698 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of KB Home during the 2nd quarter worth approximately $691,000. Finally, Heritage Wealth Management Inc. bought a new position in KB Home during the second quarter valued at $575,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

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.