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ValuEngine downgraded shares of KB Home (NYSE:KBH) from a sell rating to a strong sell rating in a report released on Thursday, October 4th.
Other equities badysts also recently issued research reports about the stock. Bank of America upgraded shares of KB Home from an underperform rating to a buy rating and boosted their target price for the stock from $32.00 to $37.00 in a research note on Friday, June 29th. Barclays upgraded shares of KB Home from an underweight rating to an equal weight rating in a research note on Friday, June 29th. Credit Suisse Group set a $29.00 target price on shares of KB Home and gave the stock a hold rating in a research note on Friday, July 13th. Zacks Investment Research downgraded shares of KB Home from a buy rating to a hold rating in a research note on Monday, June 11th. Finally, Wedbush boosted their target price on shares of KB Home from $25.00 to $26.00 and gave the stock a hold rating in a research note on Wednesday, September 26th. Four equities research badysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. KB Home currently has an average rating of Hold and an average price target of $30.89.
Shares of KB Home stock traded up $0.97 during trading hours on Thursday, reaching $20.36. 2,509,302 shares of the company were exchanged, compared to its average volume of 2,146,502. KB Home has a 1 year low of $18.54 and a 1 year high of $38.80. The firm has a market capitalization of $1.77 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.40 and a beta of 1.35.
KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, September 25th. The construction company reported $0.87 earnings per share for the quarter, topping badysts’ consensus estimates of $0.77 by $0.10. The business had revenue of $1.23 billion for the quarter, compared to badyst estimates of $1.27 billion. KB Home had a return on equity of 13.96% and a net margin of 3.43%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 earnings per share. On average, equities research badysts expect that KB Home will post 2.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 29th. Stockholders of record on Thursday, November 15th will be issued a $0.025 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.49%. KB Home’s payout ratio is 5.41%.
In other news, insider Jeffrey T. Mezger sold 125,000 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $24.12, for a total value of $3,015,000.00. Following the completion of the sale, the insider now directly owns 811,287 shares of the company’s stock, valued at $19,568,242.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP William R. Hollinger sold 79,564 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $23.96, for a total transaction of $1,906,353.44. Following the completion of the sale, the senior vice president now directly owns 234,539 shares of the company’s stock, valued at $5,619,554.44. The disclosure for this sale can be found here. Insiders sold 577,382 shares of company stock valued at $13,658,566 over the last ninety days. Corporate insiders own 8.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new position in KB Home during the second quarter worth about $115,000. CenterStar Asset Management LLC purchased a new position in KB Home during the second quarter worth about $128,000. Cerebellum GP LLC purchased a new position in KB Home during the second quarter worth about $176,000. Point72 Asia Hong Kong Ltd purchased a new position in KB Home during the first quarter worth about $238,000. Finally, Toth Financial Advisory Corp purchased a new position in KB Home during the third quarter worth about $239,000. 83.03% 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 builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.
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