KB Home (NYSE:KBH) Price Target Raised to $80.00

KB Home (NYSE:KBH) had its target price lifted by Wells Fargo & Company from $70.00 to $80.00 in a report released on Monday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the construction company’s stock.

Several other research firms also recently commented on KBH. Evercore ISI boosted their target price on shares of KB Home from $86.00 to $89.00 and gave the stock an outperform rating in a report on Monday, July 15th. Zelman & Associates restated an underperform rating and set a $69.00 price objective on shares of KB Home in a research report on Monday, May 13th. Royal Bank of Canada downgraded KB Home from a sector perform rating to an underperform rating and set a $70.00 target price on the stock. in a research report on Thursday, September 5th. The Goldman Sachs Group increased their price target on KB Home from $72.00 to $82.00 and gave the company a neutral rating in a research note on Tuesday, September 3rd. Finally, Wedbush lifted their price objective on KB Home from $64.00 to $67.00 and gave the stock a neutral rating in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, KB Home has an average rating of Hold and a consensus price target of $73.71.

KB Home Stock Performance

Shares of KB Home stock opened at $79.77 on Monday. The company has a fifty day moving average of $79.52 and a 200 day moving average of $72.07. The company has a market capitalization of $6.00 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.80 and a beta of 1.81. KB Home has a fifty-two week low of $42.11 and a fifty-two week high of $88.31.

KB Home (NYSE:KBH) last released its quarterly earnings data on Tuesday, June 18th. The construction company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.37. KB Home had a return on equity of 15.66% and a net margin of 9.43%. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.64 billion. Analysts forecast that KB Home will post 8.38 EPS for the current year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Thursday, August 8th. KB Home’s dividend payout ratio is currently 13.23%.

Hedge Funds Weigh In On KB Home

A number of large investors have recently made changes to their positions in the company. Capstone Investment Advisors LLC bought a new position in KB Home in the 1st quarter valued at $935,000. Hancock Whitney Corp increased its stake in KB Home by 311.0% in the 1st quarter. Hancock Whitney Corp now owns 16,219 shares of the construction company’s stock worth $1,150,000 after buying an additional 12,273 shares during the period. International Assets Investment Management LLC bought a new stake in KB Home during the 4th quarter valued at about $733,000. Virtu Financial LLC bought a new stake in KB Home during the 1st quarter valued at about $1,078,000. Finally, Entropy Technologies LP purchased a new stake in KB Home in the 1st quarter valued at about $640,000. 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.