KB Home (NYSE:KBH) Stock Price Up 5.5%

KB Home (NYSE:KBH)’s share price rose 5.5% during mid-day trading on Wednesday . The company traded as high as $39.43 and last traded at $38.95. Approximately 1,901,577 shares traded hands during trading, a decline of 15% from the average daily volume of 2,242,345 shares. The stock had previously closed at $36.91.

Several equities research analysts have recently weighed in on KBH shares. Wedbush increased their price objective on KB Home from $33.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Royal Bank of Canada lowered their target price on KB Home from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Thursday, June 25th. They noted that the move was a valuation call. Goldman Sachs Group lowered KB Home from a “neutral” rating to a “sell” rating and lowered their target price for the company from $31.00 to $26.00 in a research note on Thursday, July 16th. Wells Fargo & Company lifted their price objective on KB Home from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Credit Suisse Group lifted their price objective on KB Home from $36.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company’s stock. KB Home currently has a consensus rating of “Buy” and a consensus target price of $36.00.

The firm has a market cap of $3.53 billion, a P/E ratio of 12.10, a PEG ratio of 1.56 and a beta of 1.96. The company has a fifty day moving average price of $35.86 and a two-hundred day moving average price of $29.36.

KB Home (NYSE:KBH) last released its quarterly earnings data on Wednesday, June 24th. The construction company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. KB Home had a return on equity of 12.65% and a net margin of 6.43%. The business had revenue of $913.97 million for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the business posted $0.51 EPS. KB Home’s revenue for the quarter was down 10.6% on a year-over-year basis. Research analysts anticipate that KB Home will post 2.67 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Wednesday, August 5th. KB Home’s dividend payout ratio is presently 12.63%.

In related news, Director Melissa Lora sold 8,202 shares of KB Home stock in a transaction that occurred on Thursday, July 16th. The stock was sold at an average price of $31.70, for a total value of $260,003.40. Following the sale, the director now owns 177,193 shares of the company’s stock, valued at approximately $5,617,018.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Brian J. Woram sold 49,967 shares of KB Home stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $36.50, for a total value of $1,823,795.50. 5.36% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. First Mercantile Trust Co. acquired a new position in shares of KB Home during the 1st quarter worth approximately $26,000. Verus Capital Partners LLC acquired a new position in shares of KB Home during the 1st quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. increased its position in shares of KB Home by 286.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,683 shares of the construction company’s stock worth $49,000 after purchasing an additional 1,988 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in shares of KB Home during the 1st quarter worth approximately $91,000. Finally, Citizens Financial Group Inc RI increased its position in shares of KB Home by 5,070.8% during the 2nd quarter. Citizens Financial Group Inc RI now owns 3,361 shares of the construction company’s stock worth $103,000 after purchasing an additional 3,296 shares during the last quarter. 90.38% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Company Profile (NYSE:KBH)

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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