Shares of KB Home (NYSE:KBH – Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $55.72 and traded as high as $56.82. KB Home shares last traded at $56.3710, with a volume of 1,103,333 shares trading hands.
Analysts Set New Price Targets
Several equities research analysts have commented on KBH shares. Truist Financial boosted their price target on shares of KB Home from $50.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, June 24th. Citigroup restated a “market outperform” rating on shares of KB Home in a research report on Wednesday, June 17th. Weiss Ratings upgraded shares of KB Home from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 13th. Wall Street Zen raised shares of KB Home from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Barclays increased their target price on shares of KB Home from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.17.
Check Out Our Latest Research Report on KBH
KB Home Trading Up 2.0%
KB Home (NYSE:KBH – Get Free Report) last posted its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). KB Home had a return on equity of 7.67% and a net margin of 4.94%.The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm posted $1.50 EPS. KB Home’s quarterly revenue was down 27.3% on a year-over-year basis. Sell-side analysts expect that KB Home will post 3.3 EPS for the current fiscal year.
KB Home Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, August 6th. KB Home’s dividend payout ratio (DPR) is 34.84%.
Institutional Investors Weigh In On KB Home
Several hedge funds have recently made changes to their positions in the company. United Services Automobile Association purchased a new position in KB Home during the 1st quarter worth approximately $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of KB Home by 5.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,525 shares of the construction company’s stock valued at $13,108,000 after purchasing an additional 11,103 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of KB Home by 23.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,530 shares of the construction company’s stock worth $134,000 after buying an additional 482 shares during the period. Marshall Wace LLP boosted its position in shares of KB Home by 341.2% in the second quarter. Marshall Wace LLP now owns 86,667 shares of the construction company’s stock worth $4,591,000 after buying an additional 67,023 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new position in shares of KB Home during the second quarter valued at $711,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.
About KB Home
KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.
At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.
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