KB Home (KBH) Raised to Overweight at Barclays
Barclays upgraded shares of KB Home (NYSE:KBH) from an equal weight rating to an overweight rating in a research report report published on Monday, Benzinga reports. Barclays currently has $29.00 price target on the construction company’s stock, up from their previous price target of $24.00.
KBH has been the subject of a number of other research reports. Credit Suisse Group reissued a sell rating and issued a $17.00 target price on shares of KB Home in a report on Friday, February 15th. Zacks Investment Research downgraded KB Home from a hold rating to a strong sell rating in a research note on Monday, January 14th. Wedbush reaffirmed a neutral rating and set a $22.00 price target on shares of KB Home in a research note on Thursday, March 21st. Buckingham Research lifted their price target on KB Home from $24.00 to $27.00 and gave the stock a neutral rating in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. raised KB Home from an underweight rating to a neutral rating and lifted their price target for the stock from $20.50 to $23.00 in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $25.48.
KB Home stock opened at $26.79 on Monday. KB Home has a one year low of $16.82 and a one year high of $28.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 5.37 and a quick ratio of 0.98. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 1.20 and a beta of 1.58.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 2nd will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Wednesday, May 1st. KB Home’s dividend payout ratio (DPR) is presently 3.55%.
In other news, EVP Brian J. Woram sold 10,000 shares of KB Home stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $27.02, for a total transaction of $270,200.00. Following the completion of the transaction, the executive vice president now owns 151,770 shares of the company’s stock, valued at approximately $4,100,825.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Albert Z. Praw sold 233,176 shares of KB Home stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $25.71, for a total value of $5,994,954.96. Following the sale, the executive vice president now owns 172,660 shares of the company’s stock, valued at approximately $4,439,088.60. The disclosure for this sale can be found here. Insiders have sold a total of 983,838 shares of company stock valued at $25,116,916 in the last ninety days. Corporate insiders own 7.32% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan purchased a new stake in KB Home during the 4th quarter worth about $393,000. Fisher Asset Management LLC increased its position in KB Home by 0.6% during the 4th quarter. Fisher Asset Management LLC now owns 3,321,909 shares of the construction company’s stock worth $63,448,000 after purchasing an additional 18,369 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in KB Home by 37.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 23,145 shares of the construction company’s stock worth $442,000 after purchasing an additional 6,300 shares in the last quarter. Texas Permanent School Fund increased its position in KB Home by 4.8% during the 4th quarter. Texas Permanent School Fund now owns 56,405 shares of the construction company’s stock worth $1,077,000 after purchasing an additional 2,562 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in KB Home by 77.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 50,181 shares of the construction company’s stock worth $958,000 after purchasing an additional 21,925 shares in the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.
About KB Home
KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company 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.
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