KB Home (KBH) Upgraded to Strong-Buy at ValuEngine
ValuEngine upgraded shares of KB Home (NYSE:KBH) from a buy rating to a strong-buy rating in a report published on Wednesday.
KBH has been the subject of a number of other reports. JPMorgan Chase & Co. restated an underweight rating and issued a $27.00 price objective (up from $25.50) on shares of KB Home in a research report on Tuesday, December 19th. Keefe, Bruyette & Woods restated a hold rating and issued a $33.00 price objective on shares of KB Home in a research report on Friday, December 22nd. Buckingham Research cut KB Home from a neutral rating to an underperform rating and boosted their price objective for the company from $28.00 to $34.00 in a research report on Friday, January 12th. They noted that the move was a valuation call. Credit Suisse Group restated a neutral rating and issued a $38.00 price objective (up from $31.00) on shares of KB Home in a research report on Monday, January 22nd. They noted that the move was a valuation call. Finally, Royal Bank of Canada boosted their price objective on KB Home to $40.00 and gave the company a sector perform rating in a research report on Monday, January 15th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $29.07.
Shares of KB Home (NYSE KBH) opened at $29.22 on Wednesday. The company has a market capitalization of $2,535.19, a P/E ratio of 15.97, a PEG ratio of 0.74 and a beta of 1.54. KB Home has a 12-month low of $18.32 and a 12-month high of $38.80. The company has a debt-to-equity ratio of 1.21, a current ratio of 5.36 and a quick ratio of 1.22.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Wednesday, February 7th. KB Home’s dividend payout ratio is presently 5.46%.
In other news, SVP Thomas F. Norton sold 47,179 shares of KB Home stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $30.32, for a total value of $1,430,467.28. Following the sale, the senior vice president now directly owns 103,562 shares of the company’s stock, valued at $3,139,999.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeff Kaminski sold 125,000 shares of KB Home stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $32.53, for a total value of $4,066,250.00. Following the completion of the sale, the chief financial officer now directly owns 237,775 shares in the company, valued at $7,734,820.75. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in KB Home by 5.2% during the fourth quarter. BlackRock Inc. now owns 10,649,861 shares of the construction company’s stock worth $340,261,000 after buying an additional 522,007 shares during the last quarter. Renaissance Technologies LLC boosted its stake in KB Home by 348.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,821,700 shares of the construction company’s stock worth $58,203,000 after buying an additional 1,415,300 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in KB Home during the fourth quarter worth $34,238,000. Millennium Management LLC boosted its stake in KB Home by 1.2% during the fourth quarter. Millennium Management LLC now owns 1,038,262 shares of the construction company’s stock worth $33,172,000 after buying an additional 12,757 shares during the last quarter. Finally, Sadoff Investment Management LLC acquired a new position in KB Home during the fourth quarter worth $32,749,000. 94.59% of the stock is currently owned by institutional investors.
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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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