KB Home (NYSE:KBH) Shares Gap Up After Analyst Upgrade (2024)

KB Home (NYSE:KBH – Get Free Report)’s stock price gapped up before the market opened on Thursday after Royal Bank of Canada raised their price target on the stock from $69.00 to $70.00. The stock had previously closed at $68.04, but opened at $70.30. Royal Bank of Canada currently has a sector perform rating on the stock. KB Home shares last traded at $71.10, with a volume of 413,017 shares traded.

A number of other research firms have also issued reports on KBH. Wedbush increased their target price on shares of KB Home from $64.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods increased their price objective on KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a research note on Thursday. Evercore ISI boosted their target price on KB Home from $78.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on KB Home from $68.50 to $70.50 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. Finally, Wells Fargo & Company lifted their price objective on KB Home from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, KB Home has an average rating of “Hold” and an average target price of $67.10.

Get Our Latest Analysis on KBH

Insider Activity

In related news, CFO Jeff Kaminski sold 38,386 shares of KB Home stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $66.56, for a total transaction of $2,554,972.16. Following the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,294,522.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other KB Home news, CFO Jeff Kaminski sold 38,386 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total value of $2,554,972.16. Following the completion of the sale, the chief financial officer now owns 34,473 shares in the company, valued at $2,294,522.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Albert Z. Praw sold 22,160 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $70.11, for a total transaction of $1,553,637.60. Following the transaction, the executive vice president now owns 135,512 shares in the company, valued at $9,500,746.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,460 shares of company stock worth $4,384,468. Corporate insiders own 4.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KBH. US Bancorp DE boosted its stake in shares of KB Home by 1.6% in the first quarter. US Bancorp DE now owns 12,317 shares of the construction company’s stock valued at $873,000 after buying an additional 191 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of KB Home by 3.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,355 shares of the construction company’s stock worth $334,000 after purchasing an additional 200 shares in the last quarter. Beck Bode LLC grew its stake in shares of KB Home by 0.4% during the 4th quarter. Beck Bode LLC now owns 57,114 shares of the construction company’s stock worth $3,567,000 after purchasing an additional 228 shares during the period. Wealthcare Advisory Partners LLC increased its holdings in shares of KB Home by 2.1% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 11,029 shares of the construction company’s stock valued at $782,000 after purchasing an additional 231 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of KB Home by 10.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,225 shares of the construction company’s stock valued at $201,000 after purchasing an additional 293 shares during the period. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Stock Up 2.9 %

The business’s fifty day moving average is $68.12 and its 200 day moving average is $64.91. The stock has a market cap of $5.32 billion, a PE ratio of 9.26, a P/E/G ratio of 0.77 and a beta of 1.77.

KB Home (NYSE:KBH – Get Free Report) last issued its quarterly earnings data on Wednesday, March 20th. The construction company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.19. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. KB Home had a return on equity of 15.81% and a net margin of 9.43%. KB Home’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 earnings per share. As a group, analysts predict that KB Home will post 8.01 EPS for the current year.

KB Home Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.43%. This is a boost from KB Home’s previous quarterly dividend of $0.20. KB Home’s payout ratio is presently 13.23%.

About KB Home

(Get Free Report)

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.

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