KB Home (NYSE:KBH) Given New $58.00 Price Target at Keefe, Bruyette & Woods

KB Home (NYSE:KBH - Free Report) had its price objective cut by Keefe, Bruyette & Woods from $65.00 to $58.00 in a report released on Thursday,Benzinga reports. They currently have a market perform rating on the construction company's stock.

Several other brokerages have also commented on KBH. Bank of America cut their target price on KB Home from $58.00 to $54.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Royal Bank Of Canada cut their target price on KB Home from $67.00 to $63.00 and set a "sector perform" rating on the stock in a research report on Tuesday, March 25th. Wedbush restated a "neutral" rating and set a $75.00 target price on shares of KB Home in a research report on Tuesday, March 25th. Seaport Res Ptn upgraded KB Home from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Finally, Barclays set a $49.00 target price on KB Home and gave the company an "equal weight" rating in a research report on Tuesday, June 24th. Two equities 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. According to data from MarketBeat.com, KB Home presently has a consensus rating of "Hold" and an average price target of $66.14.

KB Home Trading Up 1.3%

Shares of NYSE KBH traded up $0.70 during trading on Thursday, reaching $52.83. The company had a trading volume of 2,936,497 shares, compared to its average volume of 1,319,359. The company's fifty day moving average price is $52.98 and its 200-day moving average price is $59.28. KB Home has a 12 month low of $48.90 and a 12 month high of $89.70. The stock has a market cap of $3.79 billion, a P/E ratio of 7.00, a PEG ratio of 4.09 and a beta of 1.35. The company has a quick ratio of 0.60, a current ratio of 5.83 and a debt-to-equity ratio of 0.47.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings results on Monday, June 23rd. The construction company reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.05. KB Home had a return on equity of 14.02% and a net margin of 8.47%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the company posted $2.15 EPS. The business's revenue was down 10.5% on a year-over-year basis. As a group, research analysts expect that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Thursday, May 8th. KB Home's dividend payout ratio (DPR) is currently 13.25%.

Insider Buying and Selling

In other news, Director Arthur Reginald Collins sold 5,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $54.38, for a total value of $271,900.00. Following the completion of the sale, the director now directly owns 10,262 shares of the company's stock, valued at $558,047.56. This represents a 32.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.89% of the stock is owned by company insiders.

Institutional Trading of KB Home

Several institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. raised its stake in shares of KB Home by 2.4% in the fourth quarter. Invesco Ltd. now owns 2,396,967 shares of the construction company's stock worth $157,529,000 after purchasing an additional 56,142 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of KB Home by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company's stock worth $149,928,000 after purchasing an additional 75,143 shares during the last quarter. First Trust Advisors LP raised its stake in shares of KB Home by 61.2% in 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 last quarter. LSV Asset Management raised its stake in shares of KB Home by 3.0% in the fourth 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 during the last quarter. Finally, Northern Trust Corp raised its stake in shares of KB Home by 7.3% in the fourth quarter. Northern Trust Corp now owns 1,101,300 shares of the construction company's stock worth $72,377,000 after purchasing an additional 75,206 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other 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.