Wedbush reaffirmed their neutral rating on shares of KB Home (NYSE:KBH) in a research note issued to investors on Thursday, June 27th, Stock Target Advisor reports. They currently have a $22.00 target price on the construction company’s stock, down from their prior target price of $25.00. Wedbush also issued estimates for KB Home’s Q4 2019 earnings at $1.21 EPS, FY2019 earnings at $2.65 EPS, Q1 2020 earnings at $0.38 EPS, Q3 2020 earnings at $0.82 EPS, Q4 2020 earnings at $1.33 EPS and FY2020 earnings at $3.20 EPS.
Several other brokerages have also recently weighed in on KBH. Royal Bank of Canada boosted their price objective on Victory Capital to $19.00 and gave the stock an outperform rating in a research note on Thursday, May 16th. Zacks Investment Research cut IQIYI from a hold rating to a sell rating in a research note on Friday, March 29th. ValuEngine cut Zogenix from a strong-buy rating to a buy rating in a research note on Thursday, April 11th. Credit Suisse Group reaffirmed a neutral rating on shares of Aggreko in a research note on Wednesday, March 27th. Finally, Raymond James set a C$80.00 target price on West Fraser Timber and gave the company a strong-buy rating in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $26.30.
Shares of KBH stock traded down $0.15 during trading hours on Thursday, hitting $26.64. The stock had a trading volume of 1,418,968 shares, compared to its average volume of 1,964,865. KB Home has a one year low of $16.82 and a one year high of $27.64. The business has a 50-day simple moving average of $25.86. The stock has a market capitalization of $2.35 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 1.14 and a beta of 1.42.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, July 31st. This represents a $0.36 dividend on an annualized basis and a yield of 1.35%. This is a positive change from KB Home’s previous quarterly dividend of $0.03. KB Home’s dividend payout ratio is currently 3.55%.
In other news, CAO William R. Hollinger sold 68,147 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $26.16, for a total transaction of $1,782,725.52. Following the completion of the sale, the chief accounting officer now owns 228,174 shares in the company, valued at approximately $5,969,031.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brian J. Woram sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $27.02, for a total value of $270,200.00. Following the completion of the transaction, the executive vice president now directly owns 151,770 shares in the company, valued at $4,100,825.40. The disclosure for this sale can be found here. 7.32% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ETF Managers Group LLC increased its position in shares of KB Home by 11.2% in the 1st quarter. ETF Managers Group LLC now owns 5,042 shares of the construction company’s stock valued at $122,000 after acquiring an additional 506 shares during the period. Comerica Bank grew its position in KB Home by 1.8% during the 4th quarter. Comerica Bank now owns 55,276 shares of the construction company’s stock worth $1,128,000 after purchasing an additional 961 shares during the period. Crossmark Global Holdings Inc. grew its position in KB Home by 4.3% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,900 shares of the construction company’s stock worth $615,000 after purchasing an additional 975 shares during the period. Texas Permanent School Fund grew its position in KB Home by 1.9% during the 1st quarter. Texas Permanent School Fund now owns 57,458 shares of the construction company’s stock worth $1,389,000 after purchasing an additional 1,053 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in KB Home by 3.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 34,469 shares of the construction company’s stock worth $833,000 after purchasing an additional 1,138 shares during the period. 89.53% of the stock is currently owned by hedge funds and other institutional investors.
KB Home Company Profile
KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers.
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