KB Home (NYSE:KBH) Price Target Increased to $70.50 by Analysts at JPMorgan Chase & Co.

KB Home (NYSE:KBH) had its price objective boosted by JPMorgan Chase & Co. from $68.50 to $70.50 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

Other equities research analysts also recently issued reports about the company. StockNews.com raised KB Home from a hold rating to a buy rating in a report on Friday, March 22nd. UBS Group increased their price target on KB Home from $82.00 to $87.00 and gave the stock a buy rating in a report on Thursday, March 21st. Royal Bank of Canada increased their price target on KB Home from $63.00 to $69.00 and gave the stock a sector perform rating in a report on Thursday, March 21st. Wells Fargo & Company increased their price target on KB Home from $65.00 to $70.00 and gave the stock an equal weight rating in a report on Thursday, March 21st. Finally, Wedbush raised their target price on KB Home from $60.00 to $64.00 and gave the company a neutral rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $63.96.

KB Home Stock Up 2.0 %

NYSE:KBH opened at $69.55 on Wednesday. The company has a market capitalization of $5.26 billion, a PE ratio of 9.46, a P/E/G ratio of 0.79 and a beta of 1.73. KB Home has a 52-week low of $38.26 and a 52-week high of $72.00. The stock’s 50 day moving average price is $64.11 and its 200 day moving average price is $56.46.

KB Home (NYSE:KBH) last announced its earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.19. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. KB Home had a net margin of 9.29% and a return on equity of 15.78%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.45 earnings per share. As a group, sell-side analysts anticipate that KB Home will post 7.79 EPS for the current fiscal year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.15%. The ex-dividend date was Wednesday, February 7th. KB Home’s dividend payout ratio (DPR) is 10.88%.

Insider Buying and Selling at KB Home

In other KB Home news, CAO William R. Hollinger sold 45,471 shares of KB Home stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.47, for a total value of $2,749,631.37. Following the completion of the sale, the chief accounting officer now owns 109,981 shares in the company, valued at approximately $6,650,551.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jeffrey T. Mezger sold 165,307 shares of KB Home stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $59.40, for a total value of $9,819,235.80. Following the transaction, the chief executive officer now directly owns 1,491,298 shares of the company’s stock, valued at approximately $88,583,101.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William R. Hollinger sold 45,471 shares of KB Home stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $60.47, for a total value of $2,749,631.37. Following the completion of the transaction, the chief accounting officer now directly owns 109,981 shares in the company, valued at $6,650,551.07. The disclosure for this sale can be found here. Insiders sold 373,635 shares of company stock worth $22,400,005 in the last 90 days. 3.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On KB Home

Several hedge funds and other institutional investors have recently modified their holdings of KBH. Citigroup Inc. lifted its stake in shares of KB Home by 20.9% in the 1st quarter. Citigroup Inc. now owns 109,019 shares of the construction company’s stock valued at $3,530,000 after purchasing an additional 18,818 shares in the last quarter. Acadian Asset Management LLC lifted its position in KB Home by 35.5% during the 1st quarter. Acadian Asset Management LLC now owns 2,169 shares of the construction company’s stock worth $69,000 after acquiring an additional 568 shares in the last quarter. MetLife Investment Management LLC lifted its position in KB Home by 39.7% during the 1st quarter. MetLife Investment Management LLC now owns 96,105 shares of the construction company’s stock worth $3,112,000 after acquiring an additional 27,327 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in KB Home by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,411 shares of the construction company’s stock worth $1,017,000 after acquiring an additional 2,995 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in KB Home by 7.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 47,231 shares of the construction company’s stock worth $1,571,000 after acquiring an additional 3,140 shares in the last quarter. 96.09% of the stock is owned by institutional investors and hedge funds.

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.