KB Home (NYSE:KBH) Shares Down 5.8%

Shares of KB Home (NYSE:KBH) traded down 5.8% on Tuesday . The company traded as low as $36.72 and last traded at $36.73, 1,295,486 shares traded hands during trading. A decline of 24% from the average session volume of 1,693,794 shares. The stock had previously closed at $38.99.

A number of research analysts have weighed in on the company. Evercore ISI reiterated a “buy” rating on shares of KB Home in a report on Wednesday, December 18th. Zacks Investment Research upped their price target on KB Home to $40.00 in a research note on Friday, January 31st. Seaport Global Securities cut KB Home from a “buy” rating to a “neutral” rating in a research note on Monday, November 4th. Goldman Sachs Group initiated coverage on KB Home in a report on Friday, December 6th. They issued a “neutral” rating and a $36.00 price objective for the company. Finally, Royal Bank of Canada raised their price objective on KB Home from $34.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $33.91.

The stock has a 50-day moving average of $37.97 and a two-hundred day moving average of $33.99. The company has a market cap of $3.49 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.00 and a beta of 1.10.

KB Home (NYSE:KBH) last released its earnings results on Thursday, January 9th. The construction company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.02. KB Home had a return on equity of 11.99% and a net margin of 5.90%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. Analysts predict that KB Home will post 3.68 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Wednesday, February 5th. KB Home’s dividend payout ratio is presently 12.63%.

In related news, CEO Jeffrey T. Mezger sold 224,951 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $39.01, for a total value of $8,775,338.51. Following the transaction, the chief executive officer now owns 1,098,226 shares in the company, valued at approximately $42,841,796.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.32% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in KBH. Amundi Pioneer Asset Management Inc. lifted its position in KB Home by 477.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,310,371 shares of the construction company’s stock valued at $44,908,000 after acquiring an additional 1,083,552 shares in the last quarter. Millennium Management LLC increased its holdings in shares of KB Home by 68.1% in the 3rd quarter. Millennium Management LLC now owns 929,694 shares of the construction company’s stock worth $31,609,000 after purchasing an additional 376,477 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in shares of KB Home in the fourth quarter worth $11,268,000. Luxor Capital Group LP purchased a new position in shares of KB Home in the third quarter worth $11,057,000. Finally, Soros Fund Management LLC bought a new position in shares of KB Home during the third quarter valued at $5,511,000. 84.20% of the stock is owned by institutional investors.

KB Home Company Profile (NYSE:KBH)

KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company 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.

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