KB Home (NYSE:KBH) Price Target Raised to $99.00 at Barclays

KB Home (NYSE:KBH) had its price objective increased by Barclays from $78.00 to $99.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada lowered KB Home from a sector perform rating to an underperform rating and set a $70.00 price target on the stock. in a research report on Thursday, September 5th. Wells Fargo & Company raised their target price on shares of KB Home from $70.00 to $80.00 and gave the stock an equal weight rating in a report on Monday, September 9th. Wedbush reiterated a neutral rating and set a $67.00 price target on shares of KB Home in a report on Thursday, September 12th. Bank of America raised their price target on shares of KB Home from $75.00 to $90.00 and gave the stock a neutral rating in a report on Thursday, September 19th. Finally, Keefe, Bruyette & Woods increased their target price on shares of KB Home from $74.00 to $77.00 and gave the stock a market perform rating in a report on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $77.27.

KB Home Stock Performance

Shares of KBH opened at $85.94 on Wednesday. KB Home has a fifty-two week low of $42.11 and a fifty-two week high of $89.70. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.89 and a beta of 1.81. The firm has a 50 day moving average price of $82.58 and a 200-day moving average price of $73.62.

KB Home (NYSE:KBH) last posted its quarterly 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). KB Home had a return on equity of 15.66% and a net margin of 9.43%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned $1.80 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities research analysts predict that KB Home will post 8.38 earnings per share for the current year.

KB Home Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, August 8th. KB Home’s dividend payout ratio (DPR) is presently 13.23%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of KB Home in the 4th quarter worth approximately $36,761,000. Wells Fargo & Company MN increased its holdings in shares of KB Home by 45.1% during the fourth quarter. Wells Fargo & Company MN now owns 140,728 shares of the construction company’s stock valued at $8,790,000 after acquiring an additional 43,748 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of KB Home by 8.5% in the 4th quarter. Corient Private Wealth LLC now owns 18,597 shares of the construction company’s stock worth $1,162,000 after purchasing an additional 1,452 shares during the last quarter. US Bancorp DE boosted its stake in KB Home by 35.8% in the 4th quarter. US Bancorp DE now owns 12,126 shares of the construction company’s stock worth $757,000 after purchasing an additional 3,199 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in KB Home by 10.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,225 shares of the construction company’s stock valued at $201,000 after purchasing an additional 293 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors.

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.