KB Home (NYSE:KBH) Given New $63.00 Price Target at Royal Bank of Canada

KB Home (NYSE:KBH - Free Report) had its price target cut by Royal Bank of Canada from $67.00 to $63.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a sector perform rating on the construction company's stock.

Several other research analysts also recently weighed in on the stock. Evercore ISI upped their price objective on shares of KB Home from $88.00 to $95.00 and gave the stock an "outperform" rating in a report on Tuesday, January 14th. Wells Fargo & Company lowered their target price on shares of KB Home from $63.00 to $57.00 and set an "underweight" rating on the stock in a report on Tuesday. Barclays cut their price target on KB Home from $60.00 to $56.00 and set an "equal weight" rating for the company in a research note on Tuesday. Seaport Res Ptn raised KB Home from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. 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 research report on Friday, January 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, KB Home presently has an average rating of "Hold" and an average target price of $71.21.

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KB Home Stock Down 2.4 %

KBH traded down $1.42 during midday trading on Tuesday, hitting $57.79. The company had a trading volume of 1,201,420 shares, compared to its average volume of 1,270,781. The stock's 50 day moving average price is $63.43 and its 200 day moving average price is $72.46. KB Home has a 52 week low of $56.41 and a 52 week high of $89.70. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 6.82, a PEG ratio of 0.90 and a beta of 1.89. 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 announced its quarterly earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.07). The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $1.76 EPS. On average, research analysts anticipate 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 Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.73%. The ex-dividend date was Thursday, February 6th. KB Home's dividend payout ratio is 12.20%.

Insider Activity

In other news, CFO Jeff Kaminski sold 27,500 shares of the company's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the transaction, the chief financial officer now 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.89% of the company's stock.

Institutional Investors Weigh In On KB Home

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC boosted its position in KB Home by 101,600.0% during the third quarter. Quest Partners LLC now owns 1,017 shares of the construction company's stock worth $87,000 after purchasing an additional 1,016 shares during the period. Pathstone Holdings LLC lifted its stake in shares of KB Home by 1.3% during the 3rd quarter. Pathstone Holdings LLC now owns 20,528 shares of the construction company's stock valued at $1,759,000 after buying an additional 263 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in KB Home by 22.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company's stock worth $77,655,000 after buying an additional 164,010 shares during the period. Citigroup Inc. grew its stake in KB Home by 62.1% in the 3rd quarter. Citigroup Inc. now owns 107,051 shares of the construction company's stock valued at $9,173,000 after buying an additional 40,992 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in KB Home by 24.7% during the 3rd quarter. Cerity Partners LLC now owns 38,742 shares of the construction company's stock valued at $3,320,000 after acquiring an additional 7,679 shares during the period. 96.09% of the stock is currently owned by institutional investors.

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.