JPMorgan Chase & Co. Boosts KB Home (NYSE:KBH) Price Target to $36.00

KB Home (NYSE:KBHGet Rating) had its target price raised by JPMorgan Chase & Co. from $32.00 to $36.00 in a research report sent to investors on Tuesday morning, The Fly reports. They currently have an overweight rating on the construction company’s stock.

A number of other brokerages have also recently commented on KBH. Raymond James cut KB Home from a strong-buy rating to a market perform rating in a report on Friday, October 21st. Barclays dropped their price objective on KB Home from $43.00 to $41.00 and set an overweight rating for the company in a report on Thursday, September 22nd. KeyCorp upgraded KB Home from an underweight rating to a sector weight rating in a report on Monday, September 19th. Wedbush dropped their price objective on KB Home from $60.00 to $44.00 in a report on Thursday, September 22nd. Finally, Bank of America cut KB Home from a buy rating to a neutral rating and set a $34.00 price objective for the company. in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, KB Home has a consensus rating of Moderate Buy and a consensus target price of $38.77.

KB Home Stock Performance

Shares of KB Home stock opened at $30.91 on Tuesday. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 3.61, a price-to-earnings-growth ratio of 0.46 and a beta of 1.58. The stock has a 50 day moving average price of $28.33 and a 200-day moving average price of $29.97. KB Home has a one year low of $24.78 and a one year high of $50.20.

KB Home (NYSE:KBHGet Rating) last announced its earnings results on Wednesday, September 21st. The construction company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.17. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.90 billion. KB Home had a return on equity of 23.95% and a net margin of 11.67%. The company’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 EPS. Sell-side analysts predict that KB Home will post 9.53 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Thursday, November 10th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Wednesday, November 9th. KB Home’s payout ratio is 7.01%.

Insider Transactions at KB Home

In other news, EVP Albert Z. Praw sold 29,777 shares of the business’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $28.77, for a total value of $856,684.29. Following the completion of the transaction, the executive vice president now directly owns 143,363 shares of the company’s stock, valued at approximately $4,124,553.51. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KBH. Allworth Financial LP increased its position in KB Home by 11,077.8% during the 3rd quarter. Allworth Financial LP now owns 1,006 shares of the construction company’s stock valued at $26,000 after buying an additional 997 shares in the last quarter. Guardian Wealth Advisors LLC acquired a new position in KB Home during the 3rd quarter valued at about $27,000. Prospera Financial Services Inc acquired a new position in KB Home during the 1st quarter valued at about $28,000. Quadrant Capital Group LLC increased its position in KB Home by 130.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,254 shares of the construction company’s stock valued at $33,000 after buying an additional 709 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in KB Home during the 1st quarter valued at about $40,000. 91.45% of the stock is owned by institutional investors and hedge funds.

About KB Home

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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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