Wedbush Reiterates Outperform Rating for KB Home (KBH)
KB Home (NYSE:KBH)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a research report issued to clients and investors on Tuesday. They currently have a $22.00 price objective on the stock. Wedbush’s price objective would indicate a potential upside of 38.02% from the stock’s previous close.
A number of other equities analysts have also recently weighed in on KBH. Buckingham Research cut shares of KB Home from a “buy” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research report on Monday, July 18th. MKM Partners reaffirmed a “hold” rating on shares of KB Home in a report on Wednesday, June 22nd. Bank of America Corp. reaffirmed a “sell” rating and set a $12.50 target price on shares of KB Home in a report on Wednesday, September 21st. RBC Capital Markets reaffirmed a “sector perform” rating and set a $17.00 target price (up previously from $16.00) on shares of KB Home in a report on Thursday, September 22nd. Finally, FBR & Co reaffirmed a “market perform” rating and set a $16.00 target price on shares of KB Home in a report on Thursday, September 22nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $15.43.
Shares of KB Home (NYSE:KBH) traded up 0.75% during trading on Tuesday, hitting $16.06. 764,593 shares of the company’s stock were exchanged. The company has a market cap of $1.36 billion, a P/E ratio of 13.90 and a beta of 1.99. The company has a 50-day moving average of $15.64 and a 200-day moving average of $14.94. KB Home has a 12-month low of $9.04 and a 12-month high of $16.76.
KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, September 20th. The company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.03. The company earned $913.30 million during the quarter. KB Home had a net margin of 3.31% and a return on equity of 6.77%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. On average, equities analysts expect that KB Home will post $1.33 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, November 1st. This represents a $0.10 annualized dividend and a dividend yield of 0.63%. KB Home’s dividend payout ratio is presently 8.62%.
In other news, CEO Jeffrey T. Mezger sold 110,000 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $16.39, for a total transaction of $1,802,900.00. Following the sale, the chief executive officer now owns 606,716 shares of the company’s stock, valued at $9,944,075.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey T. Mezger sold 230,000 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $16.43, for a total transaction of $3,778,900.00. Following the sale, the chief executive officer now directly owns 606,716 shares in the company, valued at approximately $9,968,343.88. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.
Several hedge funds have recently modified their holdings of KBH. Squarepoint Ops LLC boosted its stake in shares of KB Home by 1,124.2% in the first quarter. Squarepoint Ops LLC now owns 139,973 shares of the company’s stock valued at $1,999,000 after buying an additional 128,539 shares in the last quarter. Seven Eight Capital LLC purchased a new stake in shares of KB Home during the first quarter valued at $219,000. Amici Capital LLC purchased a new stake in shares of KB Home during the first quarter valued at $1,431,000. LPL Financial LLC purchased a new stake in shares of KB Home during the first quarter valued at $2,259,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of KB Home during the first quarter valued at $441,000. 91.89% of the stock is currently owned by institutional investors and hedge funds.
KB Home Company Profile
KB Home is a homebuilding company in the United States. The Company constructs and sells a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. Its segments include the West Coast, Southwest, Central and Southeast homebuilding segments, and financial services segment.
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