Keefe, Bruyette & Woods Boosts KB Home (NYSE:KBH) Price Target to $77.00

KB Home (NYSE:KBHFree Report) had its price objective increased by Keefe, Bruyette & Woods from $74.00 to $77.00 in a research note released on Thursday morning, Benzinga reports. They currently have a market perform rating on the construction company’s stock.

Several other brokerages have also commented on KBH. Royal Bank of Canada boosted their price target on KB Home from $63.00 to $69.00 and gave the stock a sector perform rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. boosted their price target on KB Home from $68.50 to $70.50 and gave the stock a neutral rating in a research note on Wednesday, March 27th. UBS Group lifted their price objective on KB Home from $82.00 to $87.00 and gave the stock a buy rating in a research report on Thursday, March 21st. The Goldman Sachs Group lifted their price objective on KB Home from $61.00 to $70.00 and gave the stock a neutral rating in a research report on Friday, March 22nd. Finally, 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $71.63.

Get Our Latest Stock Report on KB Home

KB Home Price Performance

Shares of NYSE:KBH opened at $70.54 on Thursday. The business’s 50 day simple moving average is $68.25 and its 200-day simple moving average is $65.16. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 0.78 and a beta of 1.77. KB Home has a 12 month low of $42.11 and a 12 month high of $74.65.

KB Home Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a $0.25 dividend. The ex-dividend date was Wednesday, May 8th. This is an increase from KB Home’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.42%. KB Home’s payout ratio is 13.23%.

Insider Buying and Selling at KB Home

In other KB Home news, CFO Jeff Kaminski sold 38,386 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total value of $2,554,972.16. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,294,522.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Thomas W. Gilligan sold 3,914 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $70.48, for a total transaction of $275,858.72. Following the completion of the sale, the director now directly owns 48,217 shares in the company, valued at approximately $3,398,334.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeff Kaminski sold 38,386 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total value of $2,554,972.16. Following the sale, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,294,522.88. The disclosure for this sale can be found here. In the last three months, insiders sold 64,460 shares of company stock worth $4,384,468. Insiders own 4.44% of the company’s stock.

Institutional Trading of KB Home

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in KB Home by 93.9% during the 3rd quarter. AQR Capital Management LLC now owns 2,526,838 shares of the construction company’s stock worth $116,942,000 after purchasing an additional 1,223,612 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in KB Home by 225.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 895,313 shares of the construction company’s stock worth $41,435,000 after purchasing an additional 620,238 shares during the period. Wedge Capital Management L L P NC boosted its position in KB Home by 2,728.9% during the 1st quarter. Wedge Capital Management L L P NC now owns 642,869 shares of the construction company’s stock worth $45,567,000 after purchasing an additional 620,144 shares during the period. Norges Bank purchased a new stake in KB Home during the 4th quarter worth $36,761,000. Finally, Invesco Ltd. boosted its position in KB Home by 26.1% during the 3rd quarter. Invesco Ltd. now owns 1,546,880 shares of the construction company’s stock worth $71,590,000 after purchasing an additional 320,554 shares during the period. 96.09% of the stock is currently owned by institutional investors and hedge funds.

About KB Home

(Get Free Report)

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.

Further Reading

Analyst Recommendations for KB Home (NYSE:KBH)

Receive News & Ratings for KB Home Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KB Home and related companies with MarketBeat.com's FREE daily email newsletter.