Truist Financial Cuts KB Home (NYSE:KBH) Price Target to $50.00

KB Home (NYSE:KBH) had its price target cut by Truist Financial from $55.00 to $50.00 in a research report released on Wednesday,Benzinga reports. They currently have a hold rating on the construction company’s stock.

Other equities analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of KB Home from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. UBS Group restated a “buy” rating on shares of KB Home in a report on Wednesday. Citizens Jmp cut their price objective on shares of KB Home from $77.00 to $70.00 and set a “market outperform” rating on the stock in a research report on Wednesday. Evercore set a $59.00 price objective on shares of KB Home in a research note on Wednesday. Finally, Wells Fargo & Company decreased their target price on shares of KB Home from $52.00 to $50.00 and set an “underweight” rating for the company in a research report on Friday, September 11th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $56.00.

KB Home Trading Up 0.6%

Shares of NYSE KBH opened at $47.94 on Wednesday. KB Home has a 12-month low of $44.03 and a 12-month high of $67.57. The stock’s fifty day simple moving average is $53.64 and its two-hundred day simple moving average is $53.26. The stock has a market capitalization of $2.94 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 2.49 and a beta of 1.34.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, September 22nd. The construction company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.88 by $0.17. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. KB Home had a return on equity of 6.56% and a net margin of 4.39%.The business’s revenue for the quarter was down 20.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.61 EPS. On average, equities analysts predict that KB Home will post 3.23 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 2.1%. KB Home’s dividend payout ratio (DPR) is 28.17%.

Insider Activity

In other news, Director Arthur Collins sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $56.96, for a total transaction of $227,840.00. Following the transaction, the director owned 9,157 shares in the company, valued at $521,582.72. This represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Albert Z. Praw sold 22,015 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $58.70, for a total transaction of $1,292,280.50. Following the completion of the transaction, the executive vice president directly owned 104,062 shares of the company’s stock, valued at $6,108,439.40. The trade was a 17.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.69% of the stock is currently owned by company insiders.

Institutional Trading of KB Home

Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. lifted its holdings in shares of KB Home by 80.0% during the first quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock worth $26,000 after purchasing an additional 220 shares during the period. Eastern Bank purchased a new stake in KB Home in the second quarter valued at approximately $26,000. Rothschild Investment LLC increased its holdings in KB Home by 391.0% in the 4th quarter. Rothschild Investment LLC now owns 820 shares of the construction company’s stock worth $46,000 after buying an additional 653 shares during the period. Ameritas Advisory Services LLC acquired a new position in KB Home in the 2nd quarter worth approximately $46,000. Finally, Integrated Wealth Concepts LLC purchased a new position in KB Home during the 2nd quarter worth approximately $73,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Company Profile

KB Home (NYSE: KBH) is a homebuilding company that designs, constructs and sells residential properties in the United States. Its offerings primarily include single-family homes, with communities and floor plans intended for first-time buyers, move-up buyers and other owner-occupants. The company also provides homebuyers with opportunities to personalize selected features and finishes through its build-to-order approach.

The company operates in several major housing markets across the United States, including locations in Arizona, California, Colorado, Florida, Idaho, Nevada, North Carolina, South Carolina, Texas and Washington.