Credit Suisse Group Lowers KB Home (KBH) to Underperform

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Credit Suisse Group cut shares of KB Home (NYSE:KBH) from a neutral rating to an underperform rating in a report issued on Wednesday, October 17th, MarketBeat.com reports. The firm currently has $18.00 price objective on the construction company’s stock.

Other equities research analysts also recently issued research reports about the stock. Bank of America upgraded shares of KB Home from an underperform rating to a buy rating and increased their target price for the stock from $32.00 to $37.00 in a research report on Friday, June 29th. Barclays upgraded shares of KB Home from an underweight rating to an equal weight rating in a report on Friday, June 29th. ValuEngine upgraded shares of KB Home from a sell rating to a hold rating in a report on Tuesday, August 28th. Wedbush raised their price target on shares of KB Home from $25.00 to $26.00 and gave the company a hold rating in a report on Wednesday, September 26th. Finally, MKM Partners set a $32.00 price target on shares of KB Home and gave the company a hold rating in a report on Wednesday, September 26th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. KB Home currently has an average rating of Hold and an average price target of $30.89.

KBH stock traded up $0.51 during midday trading on Wednesday, reaching $21.13. The company had a trading volume of 2,968,207 shares, compared to its average volume of 2,409,638. KB Home has a 1 year low of $18.54 and a 1 year high of $38.80. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 0.43 and a beta of 1.54.

KB Home (NYSE:KBH) last released its earnings results on Tuesday, September 25th. The construction company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.10. KB Home had a net margin of 3.43% and a return on equity of 13.96%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts expect that KB Home will post 2.73 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Thursday, November 15th will be given a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.10 annualized dividend and a yield of 0.47%. KB Home’s dividend payout ratio is 5.41%.

In other news, CEO Jeffrey T. Mezger sold 100,000 shares of KB Home stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $23.56, for a total transaction of $2,356,000.00. Following the sale, the chief executive officer now directly owns 861,287 shares in the company, valued at approximately $20,291,921.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William R. Hollinger sold 79,564 shares of KB Home stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $23.96, for a total transaction of $1,906,353.44. Following the sale, the senior vice president now owns 234,539 shares in the company, valued at $5,619,554.44. The disclosure for this sale can be found here. Insiders sold a total of 452,382 shares of company stock worth $10,643,566 over the last 90 days. Company insiders own 8.60% of the company’s stock.

Several institutional investors have recently modified their holdings of KBH. Itau Unibanco Holding S.A. bought a new position in KB Home during the 2nd quarter valued at about $115,000. CenterStar Asset Management LLC bought a new position in KB Home during the 2nd quarter valued at about $128,000. Cerebellum GP LLC bought a new position in KB Home during the 2nd quarter valued at about $176,000. Toth Financial Advisory Corp bought a new position in KB Home during the 3rd quarter valued at about $239,000. Finally, Signition LP bought a new position in KB Home during the 2nd quarter valued at about $247,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

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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Analyst Recommendations for KB Home (NYSE:KBH)

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