Short Interest in KB Home (NYSE:KBH) Decreases By 10.8%

KB Home (NYSE:KBH) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 5,760,000 shares, a decline of 10.8% from the October 15th total of 6,460,000 shares. Based on an average daily trading volume, of 1,100,000 shares, the short-interest ratio is currently 5.2 days. Currently, 8.1% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Bank of America boosted their target price on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Wedbush boosted their target price on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Barclays boosted their target price on shares of KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada cut shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 target price for the company. in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group boosted their target price on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.50.

Insider Buying and Selling at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction on Monday, October 14th. The shares were sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,737,156.20. The trade was a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.44% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KB Home

Large investors have recently made changes to their positions in the stock. Hancock Whitney Corp lifted its holdings in shares of KB Home by 311.0% in the 1st quarter. Hancock Whitney Corp now owns 16,219 shares of the construction company’s stock worth $1,150,000 after acquiring an additional 12,273 shares during the last quarter. Virtu Financial LLC purchased a new stake in KB Home during the 1st quarter worth approximately $1,078,000. Tidal Investments LLC purchased a new stake in KB Home during the 1st quarter worth approximately $1,177,000. Comerica Bank increased its stake in KB Home by 123.0% during the 1st quarter. Comerica Bank now owns 75,154 shares of the construction company’s stock worth $5,327,000 after buying an additional 41,452 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in KB Home during the 1st quarter worth approximately $1,588,000. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Stock Performance

NYSE:KBH remained flat at $78.53 on Friday. 682,687 shares of the company’s stock traded hands, compared to its average volume of 1,030,514. The firm has a market capitalization of $5.76 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 0.67 and a beta of 1.81. The stock has a fifty day moving average price of $82.02 and a two-hundred day moving average price of $77.19. KB Home has a 12 month low of $51.53 and a 12 month high of $89.70.

KB Home (NYSE:KBH) last posted its earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.02). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.80 earnings per share. Analysts forecast that KB Home will post 8.44 EPS for the current year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.27%. KB Home’s payout ratio is 12.82%.

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.