KB Home (NYSE:KBH - Get Free Report) shares gapped up prior to trading 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 changing hands.
A number of other analysts have also commented on the company. The Goldman Sachs Group lifted their price target on KB Home from $61.00 to $70.00 and gave the company a "neutral" rating in a research note on Friday, March 22nd. Zelman & Associates reissued an "underperform" rating and set a $69.00 target price on shares of KB Home in a report on Monday, May 13th. Wedbush upped their price target on shares of KB Home from $64.00 to $67.00 and gave the company a "neutral" rating in a research report on Thursday. Barclays lifted their price target on shares of KB Home from $75.00 to $77.00 and gave the stock an "overweight" rating in a report on Friday, March 22nd. Finally, StockNews.com downgraded KB Home from a "buy" rating to a "hold" rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $67.10.
Read Our Latest Analysis on KB Home
Insider Transactions at KB Home
In other KB Home news, EVP Albert Z. Praw sold 22,160 shares of KB Home stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $70.11, for a total value of $1,553,637.60. Following the completion of the sale, the executive vice president now directly owns 135,512 shares in the company, valued at $9,500,746.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other KB Home news, EVP Albert Z. Praw sold 22,160 shares of KB Home stock in a transaction on Friday, May 10th. The shares were sold at an average price of $70.11, for a total value of $1,553,637.60. Following the completion of the sale, the executive vice president now directly owns 135,512 shares of the company's stock, valued at $9,500,746.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas W. Gilligan sold 3,914 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $70.48, for a total transaction of $275,858.72. Following the transaction, the director now directly owns 48,217 shares in the company, valued at approximately $3,398,334.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,460 shares of company stock valued at $4,384,468. Corporate insiders own 4.44% of the company's stock.
Institutional Investors Weigh In On KB Home
Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of KB Home by 93.9% in the 3rd quarter. AQR Capital Management LLC now owns 2,526,838 shares of the construction company's stock worth $116,942,000 after purchasing an additional 1,223,612 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of KB Home by 225.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 895,313 shares of the construction company's stock valued at $41,435,000 after buying an additional 620,238 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of KB Home by 2,728.9% during the first quarter. Wedge Capital Management L L P NC now owns 642,869 shares of the construction company's stock worth $45,567,000 after acquiring an additional 620,144 shares in the last quarter. Norges Bank acquired a new stake in shares of KB Home in the 4th quarter worth about $36,761,000. Finally, Invesco Ltd. lifted its position in KB Home by 26.1% in the 3rd quarter. Invesco Ltd. now owns 1,546,880 shares of the construction company's stock valued at $71,590,000 after acquiring an additional 320,554 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company's stock.
KB Home Trading Up 2.9 %
The company's 50-day moving average is $68.12 and its two-hundred day moving average is $64.91. The firm has a market cap of $5.32 billion, a P/E ratio of 9.26, a PEG ratio of 0.77 and a beta of 1.77.
KB Home (NYSE:KBH - Get Free Report) last posted its earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.19. KB Home had a return on equity of 15.81% and a net margin of 9.43%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the company earned $1.45 earnings per share. The company's revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts anticipate that KB Home will post 8.01 EPS for the current fiscal year.
KB Home Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This is a boost from KB Home's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.43%. KB Home's dividend payout ratio (DPR) is 13.23%.
KB Home Company Profile
(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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