Credit Suisse Group Cuts KB Home (NYSE:KBH) Price Target to $27.00

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KB Home (NYSE:KBH) had its price objective decreased by Credit Suisse Group from $29.00 to $27.00 in a report issued on Wednesday, September 26th. Credit Suisse Group currently has a hold rating on the construction company’s stock.

Several other research firms have also recently weighed in on KBH. Wedbush cut their price objective on KB Home from $33.00 to $29.00 and set a neutral rating on the stock in a research report on Friday, June 29th. Zacks Investment Research lowered shares of KB Home from a buy rating to a hold rating in a report on Monday, June 11th. Susquehanna Bancshares upgraded shares of KB Home from a neutral rating to a positive rating and lifted their target price for the company from $34.00 to $36.00 in a report on Tuesday, July 10th. ValuEngine upgraded shares of KB Home from a sell rating to a hold rating in a report on Tuesday, August 28th. Finally, Barclays set a $27.00 target price on shares of KB Home and gave the company a hold rating in a report on Friday, September 14th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. KB Home has a consensus rating of Hold and an average target price of $30.89.

Shares of NYSE KBH traded down $0.84 during trading hours on Wednesday, hitting $19.67. The company’s stock had a trading volume of 2,336,263 shares, compared to its average volume of 3,228,845. The stock has a market capitalization of $1.81 billion, a PE ratio of 10.63, a PEG ratio of 0.39 and a beta of 1.35. KB Home has a 12 month low of $19.55 and a 12 month high of $38.80.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, September 25th. The construction company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.10. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.27 billion. KB Home had a return on equity of 13.96% and a net margin of 3.43%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. As a group, equities analysts anticipate that KB Home will post 2.91 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 29th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, November 14th. KB Home’s payout ratio is 5.41%.

In other news, insider Jeffrey T. Mezger sold 272,818 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $23.39, for a total transaction of $6,381,213.02. Following the completion of the sale, the insider now owns 861,287 shares of the company’s stock, valued at approximately $20,145,502.93. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP William R. Hollinger sold 79,564 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $23.96, for a total transaction of $1,906,353.44. Following the completion of the transaction, the senior vice president now directly owns 234,539 shares of the company’s stock, valued at approximately $5,619,554.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 577,382 shares of company stock valued at $13,658,566. Insiders own 8.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of KBH. Itau Unibanco Holding S.A. bought a new position in KB Home in the 2nd quarter worth $115,000. CenterStar Asset Management LLC bought a new position in shares of KB Home during the 2nd quarter valued at about $128,000. Cerebellum GP LLC bought a new position in shares of KB Home during the 2nd quarter valued at about $176,000. Point72 Asia Hong Kong Ltd bought a new position in shares of KB Home during the 1st quarter valued at about $238,000. Finally, Toth Financial Advisory Corp bought a new position in shares of KB Home during the 3rd quarter valued at about $239,000. 84.82% of the stock is owned by institutional investors.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.

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