KB Home (NYSE:KBH) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of KB Home (NYSE:KBH) from a hold rating to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

Several other equities research analysts have also issued reports on KBH. Evercore set a $59.00 price target on KB Home in a research note on Wednesday, September 23rd. Wells Fargo & Company reduced their price objective on KB Home from $52.00 to $50.00 and set an “underweight” rating on the stock in a research report on Friday, September 11th. Weiss Ratings upgraded KB Home from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Truist Financial dropped their target price on KB Home from $55.00 to $50.00 and set a “hold” rating for the company in a research report on Wednesday, September 23rd. Finally, Royal Bank Of Canada reiterated a “market perform” rating on shares of KB Home in a research report on Wednesday, September 23rd. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.92.

KB Home Price Performance

Shares of NYSE:KBH opened at $45.11 on Friday. The company’s fifty day moving average price is $52.49 and its 200-day moving average price is $52.90. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 2.37 and a beta of 1.34. KB Home has a one year low of $44.03 and a one year high of $67.57.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, September 22nd. The construction company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. KB Home had a net margin of 4.39% and a return on equity of 6.56%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the firm posted $1.61 EPS. The firm’s revenue was down 20.0% compared to the same quarter last year. As a group, equities research analysts expect that KB Home will post 3.27 EPS for the current year.

KB Home Dividend Announcement

The business 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. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, August 6th. KB Home’s payout ratio is 28.17%.

Insider Buying and Selling

In other news, Director Arthur Collins sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $56.96, for a total value of $227,840.00. Following the transaction, the director owned 9,157 shares in the company, valued at approximately $521,582.72. This trade represents a 30.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Albert Praw sold 22,015 shares of KB Home stock in a transaction on Wednesday, August 5th. The stock was 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 in the company, valued at approximately $6,108,439.40. The trade was a 17.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.69% of the company’s stock.

Institutional Trading of KB Home

A number of institutional investors have recently modified their holdings of KBH. BlackRock Inc. purchased a new stake in KB Home in the second quarter worth $618,489,000. Donald Smith & CO. Inc. purchased a new stake in shares of KB Home in the 2nd quarter worth about $108,652,000. Norges Bank bought a new position in shares of KB Home in the 4th quarter worth about $48,418,000. Bamco Inc. NY purchased a new position in KB Home during the 2nd quarter valued at about $37,500,000. Finally, Bank of New York Mellon Corp bought a new stake in KB Home during the second quarter worth about $35,837,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Company Profile

KB Home is a national homebuilder that designs, constructs and sells single-family homes and townhomes. The company offers homes in a range of floor plans, sizes and price points, with options that allow buyers to personalize features and finishes. Its communities typically include amenities such as parks, open spaces and other neighborhood improvements.

Founded in 1957, KB Home is headquartered in Los Angeles, California. The company serves residential markets across the United States, including Arizona, California, Colorado, Florida, Idaho, Nevada, North Carolina, South Carolina, Texas and Washington.