KB Home (NYSE:KBH) Lowered to Underperform at Royal Bank of Canada

Royal Bank of Canada downgraded shares of KB Home (NYSE:KBH - Free Report) from a sector perform rating to an underperform rating in a report published on Thursday, MarketBeat reports. Royal Bank of Canada currently has $70.00 price target on the construction company's stock.

A number of other analysts also recently commented on KBH. The Goldman Sachs Group boosted their price target on shares of KB Home from $72.00 to $82.00 and gave the stock a neutral rating in a research report on Tuesday. Wedbush lifted their price target on KB Home from $64.00 to $67.00 and gave the company a neutral rating in a research report on Thursday, June 20th. Zelman & Associates restated an underperform rating and issued a $69.00 price objective on shares of KB Home in a report on Monday, May 13th. Keefe, Bruyette & Woods lifted their target price on KB Home from $74.00 to $77.00 and gave the stock a market perform rating in a report on Thursday, June 20th. Finally, Evercore ISI upped their price target on shares of KB Home from $86.00 to $89.00 and gave the company an outperform rating in a report on Monday, July 15th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $72.88.

KB Home Price Performance

KBH stock traded down $1.16 on Thursday, reaching $78.86. The company's stock had a trading volume of 1,141,917 shares, compared to its average volume of 1,267,620. KB Home has a 52 week low of $42.11 and a 52 week high of $88.31. The company has a market capitalization of $5.93 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 0.84 and a beta of 1.80. The firm has a fifty day moving average of $78.35 and a two-hundred day moving average of $71.46.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings results on Tuesday, June 18th. The construction company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.37. KB Home had a return on equity of 15.66% and a net margin of 9.43%. The company had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.64 billion. As a group, equities analysts expect that KB Home will post 8.38 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, August 8th. KB Home's dividend payout ratio (DPR) is presently 13.23%.

Institutional Investors Weigh In On KB Home

A number of institutional investors and hedge funds have recently modified their holdings of KBH. American Century Companies Inc. grew its holdings in shares of KB Home by 9.6% during the second quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company's stock valued at $118,244,000 after buying an additional 147,326 shares in the last quarter. LSV Asset Management grew its holdings in shares of KB Home by 118.4% during the second quarter. LSV Asset Management now owns 1,056,400 shares of the construction company's stock valued at $74,138,000 after buying an additional 572,800 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of KB Home by 2.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company's stock valued at $63,692,000 after buying an additional 18,981 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of KB Home by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company's stock valued at $61,250,000 after buying an additional 3,993 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of KB Home by 10.8% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 695,966 shares of the construction company's stock valued at $48,843,000 after buying an additional 67,628 shares in the last quarter. 96.09% of the stock is 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.