Wells Fargo & Company Cuts KB Home (NYSE:KBH) Price Target to $63.00

KB Home (NYSE:KBH) had its target price trimmed by Wells Fargo & Company from $65.00 to $63.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an underweight rating on the construction company’s stock.

Several other equities research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of KB Home from $85.00 to $76.00 and set a “market perform” rating for the company in a research report on Friday, January 17th. Seaport Res Ptn raised shares of KB Home from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Barclays lowered their price objective on shares of KB Home from $85.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. UBS Group lowered their price objective on shares of KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $75.21.

KB Home Stock Down 1.9 %

Shares of NYSE:KBH opened at $61.44 on Monday. KB Home has a 52 week low of $59.00 and a 52 week high of $89.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51. The company has a market capitalization of $4.43 billion, a PE ratio of 7.25, a PEG ratio of 0.90 and a beta of 1.89. The company has a 50 day moving average price of $64.81 and a two-hundred day moving average price of $74.24.

KB Home (NYSE:KBH) last issued its earnings results on Monday, January 13th. The construction company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.44 by $0.08. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the firm earned $1.85 earnings per share. The business’s quarterly revenue was up 19.5% on a year-over-year basis. Analysts forecast that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, February 6th. KB Home’s dividend payout ratio is currently 11.81%.

Insider Buying and Selling at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the completion of the sale, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.52% of the company’s stock.

Institutional Trading of KB Home

A number of hedge funds have recently modified their holdings of KBH. Assetmark Inc. lifted its stake in shares of KB Home by 2.4% during the 3rd quarter. Assetmark Inc. now owns 63,009 shares of the construction company’s stock worth $5,399,000 after buying an additional 1,502 shares during the last quarter. Atria Investments Inc lifted its stake in shares of KB Home by 19.9% during the 3rd quarter. Atria Investments Inc now owns 7,610 shares of the construction company’s stock worth $652,000 after buying an additional 1,262 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of KB Home by 12.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,583 shares of the construction company’s stock worth $649,000 after buying an additional 854 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of KB Home by 21.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 29,218 shares of the construction company’s stock worth $2,504,000 after buying an additional 5,094 shares during the last quarter. Finally, Jupiter Wealth Management LLC lifted its stake in shares of KB Home by 1.2% during the 3rd quarter. Jupiter Wealth Management LLC now owns 18,891 shares of the construction company’s stock worth $1,619,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds 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.