Wells Fargo & Company Cuts KB Home (NYSE:KBH) Price Target to $53.00

KB Home (NYSE:KBH - Free Report) had its price objective reduced by Wells Fargo & Company from $55.00 to $53.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an underweight rating on the construction company's stock.

A number of other research analysts have also weighed in on KBH. Royal Bank of Canada cut their target price on shares of KB Home from $67.00 to $63.00 and set a "sector perform" rating for the company in a research report on Tuesday, March 25th. Seaport Res Ptn upgraded shares of KB Home from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Wall Street Zen downgraded shares of KB Home from a "hold" rating to a "sell" rating in a report on Wednesday, March 26th. UBS Group dropped their price objective on shares of KB Home from $97.00 to $86.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Finally, Bank of America cut their price target on shares of KB Home from $67.00 to $62.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. Two research 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $71.05.

KB Home Trading Up 2.5%

Shares of KBH traded up $1.28 during midday trading on Tuesday, hitting $53.07. The stock had a trading volume of 850,550 shares, compared to its average volume of 1,302,270. The business has a 50-day simple moving average of $53.51 and a two-hundred day simple moving average of $62.72. The firm has a market cap of $3.81 billion, a P/E ratio of 6.27, a price-to-earnings-growth ratio of 0.90 and a beta of 1.45. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. KB Home has a fifty-two week low of $48.90 and a fifty-two week high of $89.70.

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

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. KB Home's dividend payout ratio (DPR) is 12.20%.

Insider Activity at KB Home

In other news, Director Arthur Reginald Collins sold 5,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $54.38, for a total transaction of $271,900.00. Following the completion of the transaction, the director now owns 10,262 shares of the company's stock, valued at approximately $558,047.56. This trade represents a 32.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. grew its stake in shares of KB Home by 2.4% in the 4th quarter. Invesco Ltd. now owns 2,396,967 shares of the construction company's stock valued at $157,529,000 after buying an additional 56,142 shares during the period. Fisher Asset Management LLC increased its holdings in shares of KB Home by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company's stock valued at $149,928,000 after acquiring an additional 75,143 shares in the last quarter. First Trust Advisors LP raised its position in shares of KB Home by 61.2% during the fourth quarter. First Trust Advisors LP now owns 1,327,809 shares of the construction company's stock worth $87,264,000 after purchasing an additional 503,895 shares during the period. LSV Asset Management lifted its holdings in shares of KB Home by 3.0% in the 4th quarter. LSV Asset Management now owns 1,137,900 shares of the construction company's stock worth $74,783,000 after purchasing an additional 33,500 shares in the last quarter. Finally, Northern Trust Corp grew its position in KB Home by 7.3% in the 4th quarter. Northern Trust Corp now owns 1,101,300 shares of the construction company's stock valued at $72,377,000 after purchasing an additional 75,206 shares during the period. 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.