KB Home (KBH) Downgraded by Wedbush
Wedbush lowered shares of KB Home (NYSE:KBH) from an outperform rating to a neutral rating in a research note issued to investors on Thursday, Marketbeat reports.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut KB Home from a buy rating to a hold rating in a research note on Tuesday, September 5th. MKM Partners reissued a neutral rating on shares of KB Home in a research note on Tuesday, September 5th. Royal Bank Of Canada reissued a hold rating and issued a $25.00 price objective on shares of KB Home in a research note on Tuesday, August 29th. Deutsche Bank AG upped their target price on KB Home from $20.00 to $23.00 and gave the stock a hold rating in a report on Friday, June 30th. Finally, Mizuho lowered KB Home from a neutral rating to an underperform rating and set a $21.00 target price for the company. in a report on Monday, July 10th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $21.93.
KB Home (NYSE:KBH) traded up 0.07% on Thursday, hitting $27.05. The stock had a trading volume of 1,609,968 shares. The stock’s 50-day moving average is $23.60 and its 200 day moving average is $22.35. KB Home has a 1-year low of $14.06 and a 1-year high of $27.67. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 37.57 and a beta of 1.54.
KB Home (NYSE:KBH) last announced its quarterly earnings data on Thursday, September 28th. The construction company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.04. KB Home had a return on equity of 7.57% and a net margin of 3.22%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the firm earned $0.42 earnings per share. KB Home’s revenue was up 24.8% compared to the same quarter last year. On average, equities research analysts predict that KB Home will post $1.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Thursday, November 2nd will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.37%. The ex-dividend date is Wednesday, November 1st. KB Home’s dividend payout ratio is currently 7.19%.
In other KB Home news, EVP Albert Z. Praw sold 150,000 shares of the stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $25.85, for a total transaction of $3,877,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Brian J. Woram sold 49,529 shares of the stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $27.11, for a total value of $1,342,731.19. The disclosure for this sale can be found here. Insiders have sold a total of 656,934 shares of company stock worth $15,675,453 over the last ninety days. 8.60% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its position in KB Home by 17.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 93,500 shares of the construction company’s stock worth $2,241,000 after purchasing an additional 13,600 shares during the period. Renaissance Group LLC acquired a new stake in KB Home during the 2nd quarter worth about $405,000. Geneva Advisors LLC acquired a new stake in KB Home during the 2nd quarter worth about $722,000. Chicago Equity Partners LLC grew its position in KB Home by 106.3% during the 2nd quarter. Chicago Equity Partners LLC now owns 192,155 shares of the construction company’s stock worth $4,606,000 after purchasing an additional 99,015 shares during the period. Finally, CIBC World Markets Inc. grew its position in KB Home by 2.6% during the 2nd quarter. CIBC World Markets Inc. now owns 186,011 shares of the construction company’s stock worth $4,459,000 after purchasing an additional 4,724 shares during the period. 97.28% of the stock is currently owned by institutional investors.
About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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