The Goldman Sachs Group Boosts KB Home (NYSE:KBH) Price Target to $70.00

KB Home (NYSE:KBHFree Report) had its target price raised by The Goldman Sachs Group from $61.00 to $70.00 in a research report report published on Friday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the construction company’s stock.

Other equities research analysts have also recently issued research reports about the company. Barclays lifted their price target on KB Home from $75.00 to $77.00 and gave the company an overweight rating in a report on Friday. Wedbush raised their price objective on shares of KB Home from $60.00 to $64.00 and gave the company a neutral rating in a research note on Thursday. Raymond James raised their price objective on shares of KB Home from $61.00 to $70.00 and gave the company an outperform rating in a research note on Thursday, January 18th. Deutsche Bank Aktiengesellschaft lowered shares of KB Home from a hold rating to a sell rating and lowered their price objective for the company from $55.00 to $46.00 in a research note on Friday, December 8th. Finally, Royal Bank of Canada raised their price objective on shares of KB Home from $63.00 to $69.00 and gave the company a sector perform rating in a research note on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $63.46.

Get Our Latest Stock Analysis on KB Home

KB Home Stock Down 0.3 %

Shares of NYSE KBH opened at $68.40 on Friday. The firm’s 50-day moving average price is $63.61 and its two-hundred day moving average price is $56.11. KB Home has a 52-week low of $38.26 and a 52-week high of $72.00. The stock has a market capitalization of $5.17 billion, a P/E ratio of 9.31, a P/E/G ratio of 0.82 and a beta of 1.73.

KB Home (NYSE:KBHGet Free Report) last released its quarterly 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. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 earnings per share. As a group, equities research analysts expect that KB Home will post 7.79 earnings per share for the current year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $0.80 annualized dividend and a yield of 1.17%. KB Home’s dividend payout ratio (DPR) is 10.88%.

Insiders Place Their Bets

In other KB Home news, EVP Brian J. Woram sold 83,272 shares of KB Home stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.53, for a total transaction of $5,040,454.16. Following the transaction, the executive vice president now directly owns 156,119 shares in the company, valued at approximately $9,449,883.07. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other KB Home news, CAO William R. Hollinger sold 45,471 shares of KB Home stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $60.47, for a total transaction of $2,749,631.37. Following the completion of the sale, the chief accounting officer now owns 109,981 shares of the company’s stock, valued at approximately $6,650,551.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian J. Woram sold 83,272 shares of KB Home stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $60.53, for a total transaction of $5,040,454.16. Following the sale, the executive vice president now directly owns 156,119 shares of the company’s stock, valued at approximately $9,449,883.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 373,635 shares of company stock worth $22,400,005. Corporate insiders own 4.44% of the company’s stock.

Institutional Investors Weigh In On KB Home

A number of institutional investors have recently modified their holdings of KBH. Harbour Investments Inc. acquired a new stake in shares of KB Home during the 2nd quarter valued at $26,000. Manchester Capital Management LLC lifted its stake in shares of KB Home by 433.0% in the 4th quarter. Manchester Capital Management LLC now owns 485 shares of the construction company’s stock valued at $30,000 after purchasing an additional 394 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of KB Home in the 2nd quarter valued at $34,000. Lazard Asset Management LLC acquired a new stake in shares of KB Home in the 1st quarter valued at $40,000. Finally, Fifth Third Bancorp lifted its stake in shares of KB Home by 40.9% in the 3rd quarter. Fifth Third Bancorp now owns 930 shares of the construction company’s stock valued at $43,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 91.27% of the company’s stock.

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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