KB Home (NYSE:KBH) Given New $62.00 Price Target at Bank of America

KB Home (NYSE:KBH - Free Report) had its target price decreased by Bank of America from $67.00 to $62.00 in a research note published on Tuesday,Benzinga reports. Bank of America currently has a neutral rating on the construction company's stock.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of KB Home from $65.00 to $63.00 and set an "underweight" rating for the company in a report on Monday, March 10th. Royal Bank of Canada upgraded KB Home from an "underperform" rating to a "sector perform" rating and decreased their target price for the stock from $70.00 to $67.00 in a report on Friday, January 10th. Evercore ISI boosted their target price on KB Home from $88.00 to $95.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 14th. UBS Group decreased their price target on KB Home from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group cut their price objective on KB Home from $81.00 to $72.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, KB Home has an average rating of "Hold" and a consensus target price of $71.21.

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KB Home Stock Performance

KBH stock traded down $1.42 during midday trading on Tuesday, reaching $57.79. The company had a trading volume of 1,201,420 shares, compared to its average volume of 1,270,781. The firm has a market capitalization of $4.13 billion, a PE ratio of 6.82, a P/E/G ratio of 0.90 and a beta of 1.89. The stock has a 50 day moving average price of $63.43 and a 200 day moving average price of $72.41. KB Home has a fifty-two week low of $56.41 and a fifty-two week high of $89.70. The company has a quick ratio of 0.83, a current ratio of 5.51 and a debt-to-equity ratio of 0.42.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.56 by ($0.07). The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.51 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The firm's revenue was down 5.2% on a year-over-year basis. During the same period last year, the business earned $1.76 EPS. Analysts anticipate that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Thursday, February 6th. KB Home's dividend payout ratio (DPR) is presently 12.20%.

Insider Buying and Selling

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the company's stock in a transaction dated 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 directly owns 34,473 shares of the company's stock, valued at $2,370,708.21. This represents a 44.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On KB Home

Institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in KB Home by 65.6% during the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company's stock valued at $36,000 after acquiring an additional 214 shares in the last quarter. Principal Securities Inc. increased its stake in shares of KB Home by 43.6% during the 4th quarter. Principal Securities Inc. now owns 590 shares of the construction company's stock worth $39,000 after purchasing an additional 179 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of KB Home during the 3rd quarter valued at $59,000. Versant Capital Management Inc lifted its stake in shares of KB Home by 275.7% in the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company's stock valued at $50,000 after purchasing an additional 557 shares during the last quarter. Finally, Amundi boosted its holdings in KB Home by 29.6% in the fourth quarter. Amundi now owns 880 shares of the construction company's stock worth $58,000 after purchasing an additional 201 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.