Bank of America Cuts KB Home (NYSE:KBH) Price Target to $71.00

KB Home (NYSE:KBH) had its price target decreased by Bank of America from $76.00 to $71.00 in a research note released on Monday morning,Benzinga reports. Bank of America currently has a neutral rating on the construction company’s stock.

A number of other research firms have also commented on KBH. Seaport Res Ptn upgraded shares of KB Home from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods dropped their target price on shares of KB Home from $85.00 to $76.00 and set a “market perform” rating for the company in a research note on Friday, January 17th. Barclays dropped their price target on shares of KB Home from $85.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Evercore ISI boosted their price target on shares of KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada raised shares of KB Home from an “underperform” rating to a “sector perform” rating and dropped their price target for the stock from $70.00 to $67.00 in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, KB Home presently has a consensus rating of “Hold” and a consensus price target of $76.21.

KB Home Stock Performance

Shares of KB Home stock opened at $67.15 on Monday. The firm’s 50-day simple moving average is $71.27 and its 200-day simple moving average is $77.98. KB Home has a twelve month low of $58.15 and a twelve month high of $89.70. The firm has a market cap of $4.92 billion, a P/E ratio of 7.93, a price-to-earnings-growth ratio of 0.93 and a beta of 1.86.

KB Home (NYSE:KBH) last released its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.08. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.99 billion. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 earnings per share. On average, equities analysts forecast that KB Home will post 8.5 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, February 6th. KB Home’s payout ratio is presently 11.81%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KBH. Financial Management Professionals Inc. acquired a new position in shares of KB Home in the third quarter valued at approximately $32,000. Riggs Asset Managment Co. Inc. acquired a new position in shares of KB Home in the third quarter valued at approximately $43,000. Versant Capital Management Inc boosted its holdings in shares of KB Home by 275.7% in the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after buying an additional 557 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of KB Home in the third quarter valued at approximately $59,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of KB Home in the third quarter valued at approximately $61,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Company Profile

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.