KB Home (NYSE:KBH) Receives $79.17 Average Price Target from Brokerages

KB Home (NYSE:KBH) has received a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $79.17.

Several analysts have weighed in on the stock. Bank of America boosted their price target on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. lowered their target price on KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Barclays lowered KB Home from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $99.00 to $85.00 in a research report on Wednesday, December 11th. Wells Fargo & Company decreased their price target on KB Home from $83.00 to $74.00 and set an “underweight” rating on the stock in a research note on Tuesday, December 17th. 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 note on Wednesday, September 25th.

KB Home Stock Performance

Shares of KBH opened at $65.46 on Thursday. KB Home has a fifty-two week low of $58.05 and a fifty-two week high of $89.70. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 0.57 and a beta of 1.81. The firm has a 50 day moving average price of $75.57 and a 200-day moving average price of $78.10.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. KB Home’s dividend payout ratio is 12.82%.

Insider Activity

In related news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,737,156.20. This represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.44% of the company’s stock.

Hedge Funds Weigh In On KB Home

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its stake in shares of KB Home by 6.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 6,689 shares of the construction company’s stock worth $469,000 after acquiring an additional 427 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of KB Home by 14.2% during the second quarter. Van ECK Associates Corp now owns 31,512 shares of the construction company’s stock valued at $2,212,000 after purchasing an additional 3,927 shares during the last quarter. Tortoise Investment Management LLC lifted its holdings in shares of KB Home by 625.3% during the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock valued at $78,000 after purchasing an additional 963 shares during the last quarter. Foundry Partners LLC grew its stake in shares of KB Home by 7.0% in the 2nd quarter. Foundry Partners LLC now owns 110,972 shares of the construction company’s stock worth $7,788,000 after buying an additional 7,228 shares during the last quarter. Finally, Savant Capital LLC grew its stake in shares of KB Home by 11.9% in the 2nd quarter. Savant Capital LLC now owns 7,835 shares of the construction company’s stock worth $550,000 after buying an additional 833 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.