Royal Bank of Canada Boosts KB Home (NYSE:KBH) Price Target to $69.00

KB Home (NYSE:KBHFree Report) had its target price boosted by Royal Bank of Canada from $63.00 to $69.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a sector perform rating on the construction company’s stock.

KBH has been the subject of a number of other research reports. The Goldman Sachs Group boosted their price objective on KB Home from $55.00 to $61.00 and gave the company a neutral rating in a report on Thursday, January 11th. Evercore ISI upped their target price on KB Home from $67.00 to $76.00 and gave the stock an outperform rating in a report on Thursday, January 11th. Wedbush upped their target price on KB Home from $55.00 to $60.00 and gave the stock a neutral rating in a report on Thursday, January 11th. Raymond James upped their target price on KB Home from $61.00 to $70.00 and gave the stock an outperform rating in a report on Thursday, January 18th. Finally, Barclays upped their target price on KB Home from $57.00 to $68.00 and gave the stock an overweight rating in a report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $61.96.

View Our Latest Stock Analysis on KBH

KB Home Stock Down 0.3 %

KBH opened at $68.40 on Thursday. The business has a fifty day moving average of $63.61 and a 200 day moving average of $56.07. KB Home has a 52-week low of $38.26 and a 52-week high of $72.00. The stock has a market cap of $5.17 billion, a P/E ratio of 9.31, a PEG ratio of 0.83 and a beta of 1.73.

KB Home (NYSE:KBHGet Free Report) last posted its quarterly earnings data on Wednesday, March 20th. The construction company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.19. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business earned $1.45 EPS. KB Home’s revenue was up 6.5% compared to the same quarter last year. Equities analysts anticipate that KB Home will post 7.66 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Wednesday, February 7th. KB Home’s dividend payout ratio (DPR) is currently 10.88%.

Insider Activity at KB Home

In related news, CEO Jeffrey T. Mezger sold 165,307 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $59.40, for a total transaction of $9,819,235.80. Following the transaction, the chief executive officer now directly owns 1,491,298 shares of the company’s stock, valued at approximately $88,583,101.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jeffrey T. Mezger sold 59,157 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $60.34, for a total transaction of $3,569,533.38. Following the transaction, the chief executive officer now directly owns 1,491,298 shares of the company’s stock, valued at approximately $89,984,921.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey T. Mezger sold 165,307 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $59.40, for a total value of $9,819,235.80. Following the transaction, the chief executive officer now directly owns 1,491,298 shares in the company, valued at $88,583,101.20. The disclosure for this sale can be found here. Insiders have sold 373,635 shares of company stock valued at $22,400,005 in the last ninety days. Corporate insiders own 4.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KBH. AQR Capital Management LLC increased its holdings in shares of KB Home by 93.9% in the third quarter. AQR Capital Management LLC now owns 2,526,838 shares of the construction company’s stock valued at $116,942,000 after purchasing an additional 1,223,612 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in shares of KB Home by 125.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,861 shares of the construction company’s stock valued at $67,281,000 after purchasing an additional 1,156,233 shares during the period. Norges Bank acquired a new position in shares of KB Home in the fourth quarter valued at about $29,141,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of KB Home by 225.5% in 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 purchasing an additional 620,238 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of KB Home by 1,871.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 615,588 shares of the construction company’s stock worth $24,734,000 after buying an additional 584,363 shares during the last quarter. 91.27% of the stock is owned by institutional investors and hedge funds.

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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