KB Home (NYSE:KBH) Price Target Increased to $47.00 by Analysts at Royal Bank of Canada

KB Home (NYSE:KBH) had its price objective boosted by Royal Bank of Canada from $46.00 to $47.00 in a research report sent to investors on Thursday morning, The Fly reports. The brokerage currently has a sector perform rating on the construction company’s stock.

KBH has been the topic of a number of other reports. Wells Fargo & Company initiated coverage on KB Home in a report on Wednesday, April 21st. They set an overweight rating and a $55.00 price target on the stock. Wolfe Research initiated coverage on KB Home in a report on Tuesday, March 16th. They set an outperform rating on the stock. Zacks Investment Research upgraded KB Home from a hold rating to a strong-buy rating and set a $49.00 price target on the stock in a report on Thursday, May 27th. Barclays increased their target price on KB Home from $47.00 to $56.00 and gave the stock an overweight rating in a report on Thursday, March 25th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods increased their target price on KB Home from $44.00 to $48.00 and gave the stock a market perform rating in a report on Thursday, March 25th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $47.00.

NYSE:KBH opened at $40.45 on Thursday. The firm has a market cap of $3.72 billion, a P/E ratio of 11.49 and a beta of 1.81. The firm’s 50 day moving average price is $46.10. KB Home has a fifty-two week low of $27.51 and a fifty-two week high of $52.48.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Tuesday, June 22nd. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.19. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. KB Home had a return on equity of 12.74% and a net margin of 7.85%. The company’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 EPS. On average, analysts forecast that KB Home will post 5.7 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 20th. Shareholders of record on Thursday, May 6th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Wednesday, May 5th. KB Home’s dividend payout ratio (DPR) is presently 19.17%.

In other news, CFO Jeff Kaminski sold 64,277 shares of the firm’s stock in a transaction on Thursday, April 22nd. The stock was sold at an average price of $47.16, for a total transaction of $3,031,303.32. Following the completion of the sale, the chief financial officer now directly owns 102,465 shares of the company’s stock, valued at approximately $4,832,249.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Eudaimonia Partners LLC increased its position in shares of KB Home by 9.9% during the 1st quarter. Eudaimonia Partners LLC now owns 2,527 shares of the construction company’s stock valued at $118,000 after purchasing an additional 227 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of KB Home by 0.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,680 shares of the construction company’s stock valued at $1,381,000 after purchasing an additional 268 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of KB Home by 0.3% during the 4th quarter. UBS Asset Management Americas Inc. now owns 100,275 shares of the construction company’s stock valued at $3,361,000 after purchasing an additional 311 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of KB Home by 4.0% during the 1st quarter. First Horizon Advisors Inc. now owns 9,075 shares of the construction company’s stock valued at $422,000 after purchasing an additional 350 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of KB Home by 0.8% during the 1st quarter. US Bancorp DE now owns 43,919 shares of the construction company’s stock valued at $2,044,000 after purchasing an additional 364 shares during the last quarter. 87.65% 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.

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