KB Home (NYSE:KBH) Price Target Cut to $82.00 by Analysts at JPMorgan Chase & Co.

KB Home (NYSE:KBH) had its price target reduced by JPMorgan Chase & Co. from $92.50 to $82.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

Several other equities analysts have also recently commented on the company. The Goldman Sachs Group raised their price objective on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Bank of America raised their target price on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Wells Fargo & Company cut shares of KB Home from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $80.00 to $83.00 in a research note on Monday, October 7th. Wedbush raised their price objective on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, 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 on the stock. in a research note on Thursday, September 5th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, KB Home has an average rating of “Hold” and a consensus target price of $79.92.

KB Home Trading Down 2.9 %

Shares of KB Home stock opened at $71.42 on Friday. KB Home has a 1 year low of $58.05 and a 1 year high of $89.70. The company’s fifty day simple moving average is $80.04 and its 200-day simple moving average is $78.38. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 0.59 and a beta of 1.81.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.02). The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. KB Home had a return on equity of 15.69% and a net margin of 9.31%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.80 earnings per share. As a group, research analysts forecast that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.40%. KB Home’s dividend payout ratio (DPR) is presently 12.82%.

Insider Activity at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KBH. CWM LLC boosted its stake in KB Home by 26.6% in the second quarter. CWM LLC now owns 1,792 shares of the construction company’s stock valued at $126,000 after acquiring an additional 377 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of KB Home by 190.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 104,708 shares of the construction company’s stock valued at $7,348,000 after buying an additional 68,697 shares during the period. RBA Wealth Management LLC acquired a new stake in KB Home during the 2nd quarter worth $4,265,000. Bank of New York Mellon Corp lifted its holdings in KB Home by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company’s stock worth $61,250,000 after acquiring an additional 3,993 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in KB Home by 7.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,341 shares of the construction company’s stock worth $1,638,000 after acquiring an additional 1,523 shares in the last quarter. Institutional investors own 96.09% of the company’s stock.

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.