KB Home (NYSE:KBH) Coverage Initiated by Analysts at Melius Research

Melius Research started coverage on shares of KB Home (NYSE:KBH) in a report published on Tuesday morning, Marketbeat.com reports. The brokerage issued a sell rating and a $43.00 price objective on the construction company’s stock.

KBH has been the topic of a number of other research reports. Citizens Jmp cut their price objective on KB Home from $77.00 to $70.00 and set a “market outperform” rating on the stock in a research report on Wednesday, September 23rd. Bank of America decreased their target price on KB Home from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, September 23rd. Truist Financial lowered their target price on KB Home from $55.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, September 23rd. Zacks Research downgraded KB Home from a “hold” rating to a “strong sell” rating in a report on Thursday, September 17th. Finally, Royal Bank Of Canada reaffirmed a “market perform” rating on shares of KB Home in a research report on Wednesday, September 23rd. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $53.08.

KB Home Stock Performance

Shares of KBH stock opened at $45.33 on Tuesday. The stock has a market capitalization of $2.78 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 2.34 and a beta of 1.34. The company has a 50 day moving average price of $52.24 and a 200 day moving average price of $52.84. KB Home has a fifty-two week low of $44.03 and a fifty-two week high of $67.57.

KB Home (NYSE:KBH) last released its earnings results on Tuesday, September 22nd. The construction company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.30 billion. KB Home had a net margin of 4.39% and a return on equity of 6.56%. The firm’s quarterly revenue was down 20.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.61 EPS. On average, research analysts forecast that KB Home will post 3.25 EPS for the current fiscal year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.2%. KB Home’s payout ratio is presently 28.17%.

Insider Buying and Selling at KB Home

In other news, EVP Albert Z. Praw sold 22,015 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $58.70, for a total transaction of $1,292,280.50. Following the completion of the transaction, the executive vice president directly owned 104,062 shares of the company’s stock, valued at approximately $6,108,439.40. This represents a 17.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arthur Collins sold 4,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $56.96, for a total value of $227,840.00. Following the completion of the transaction, the director owned 9,157 shares in the company, valued at approximately $521,582.72. The trade was a 30.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.69% of the company’s stock.

Hedge Funds Weigh In On KB Home

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in KB Home during the second quarter worth approximately $618,489,000. Donald Smith & CO. Inc. acquired a new position in shares of KB Home in the 2nd quarter valued at $108,652,000. Bamco Inc. NY acquired a new position in shares of KB Home in the 2nd quarter valued at $37,500,000. Bank of New York Mellon Corp purchased a new position in shares of KB Home in the 2nd quarter valued at $35,837,000. Finally, Bank of America Corp DE purchased a new position in shares of KB Home in the 2nd quarter valued at $35,377,000. 96.09% of the stock is owned by institutional investors and hedge funds.

KB Home Company Profile

KB Home is a national homebuilder that designs, constructs and sells single-family homes and townhomes. The company offers homes in a range of floor plans, sizes and price points, with options that allow buyers to personalize features and finishes. Its communities typically include amenities such as parks, open spaces and other neighborhood improvements.

Founded in 1957, KB Home is headquartered in Los Angeles, California. The company serves residential markets across the United States, including Arizona, California, Colorado, Florida, Idaho, Nevada, North Carolina, South Carolina, Texas and Washington.