Brokerages Set KB Home (NYSE:KBH) Target Price at $66.11

Shares of KB Home (NYSE:KBH) have received a consensus recommendation of “Hold” from the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $66.11.

KBH has been the subject of several recent analyst reports. StockNews.com cut KB Home from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group boosted their price objective on KB Home from $61.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. Raymond James raised their target price on KB Home from $61.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Barclays upped their price target on shares of KB Home from $75.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Finally, Wells Fargo & Company boosted their target price on shares of KB Home from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st.

Insider Activity

In related news, CFO Jeff Kaminski sold 38,386 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $66.56, for a total transaction of $2,554,972.16. Following the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,294,522.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.52% of the stock is owned by corporate insiders.

Institutional Trading of KB Home

Large investors have recently made changes to their positions in the stock. Manchester Capital Management LLC grew its holdings in KB Home by 433.0% during the fourth 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. Byrne Asset Management LLC bought a new position in shares of KB Home in the first quarter worth about $41,000. Fifth Third Bancorp boosted its stake in KB Home by 40.9% during 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 period. GAMMA Investing LLC acquired a new stake in KB Home in the 4th quarter valued at approximately $47,000. Finally, Daiwa Securities Group Inc. bought a new position in KB Home in the 4th quarter worth approximately $56,000. Institutional investors own 96.09% of the company’s stock.

KB Home Price Performance

NYSE:KBH opened at $66.13 on Friday. KB Home has a 12-month low of $42.11 and a 12-month high of $72.00. The business has a 50 day simple moving average of $66.28 and a 200 day simple moving average of $59.58. The firm has a market capitalization of $5.02 billion, a P/E ratio of 9.00, a P/E/G ratio of 0.74 and a beta of 1.73.

KB Home (NYSE:KBH) last posted its earnings results 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. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. KB Home had a net margin of 9.29% and a return on equity of 15.78%. KB Home’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.45 EPS. Research analysts anticipate that KB Home will post 8.01 EPS for the current fiscal year.

KB Home Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This is an increase from KB Home’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.51%. KB Home’s dividend payout ratio (DPR) is 10.88%.

About KB Home

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.