Wells Fargo & Company Cuts KB Home (NYSE:KBH) Price Target to $74.00

KB Home (NYSE:KBH) had its price target decreased by Wells Fargo & Company from $83.00 to $74.00 in a report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the construction company’s stock.

A number of other equities research analysts also recently weighed in on the company. Wedbush lifted their target price on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price objective on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Bank of America increased their target price on shares of KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Royal Bank of Canada cut shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target for the company. in a report on Thursday, September 5th. Finally, Barclays lowered shares of KB Home from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $99.00 to $85.00 in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, KB Home currently has a consensus rating of “Hold” and a consensus target price of $79.17.

KB Home Stock Performance

NYSE:KBH opened at $65.81 on Tuesday. The company has a market capitalization of $4.83 billion, a PE ratio of 8.44, a P/E/G ratio of 0.59 and a beta of 1.81. KB Home has a fifty-two week low of $58.05 and a fifty-two week high of $89.70. The company has a 50 day simple moving average of $78.90 and a two-hundred day simple moving average of $78.36.

KB Home (NYSE:KBH) last announced its earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a return on equity of 15.69% and a net margin of 9.31%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the business earned $1.80 EPS. KB Home’s quarterly revenue was up 10.3% on a year-over-year basis. Research analysts predict that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.52%. KB Home’s payout ratio is 12.82%.

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 that occurred on Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the transaction, the chief financial officer now owns 34,473 shares in the company, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.44% of the company’s stock.

Institutional Investors Weigh In On KB Home

A number of institutional investors and hedge funds have recently bought and sold shares of KBH. FMR LLC boosted its holdings in KB Home by 47.9% during the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after acquiring an additional 1,752,498 shares during the last quarter. State Street Corp lifted its position in shares of KB Home by 1.3% during the third quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock valued at $303,285,000 after purchasing an additional 45,311 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in KB Home by 3.4% during the third quarter. Fisher Asset Management LLC now owns 2,206,172 shares of the construction company’s stock worth $189,047,000 after purchasing an additional 73,051 shares during the last quarter. Geode Capital Management LLC grew its position in KB Home by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock worth $166,125,000 after purchasing an additional 16,593 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in KB Home by 9.6% in the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock valued at $118,244,000 after buying an additional 147,326 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

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.