KB Home (NYSE:KBH) Stock Gets Price Target Reduction from Morgan Stanley

KB Home (NYSE:KBH) had its price objective lowered by Morgan Stanley from $39.00 to $37.00 in a research report released on Tuesday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the construction company’s stock.

KBH has been the topic of several other research reports. Truist Financial cut their price target on KB Home from $55.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday, September 23rd. Melius Research started coverage on shares of KB Home in a research note on Tuesday, October 6th. They issued a “sell” rating and a $43.00 price target on the stock. Citigroup reissued an “outperform” rating on shares of KB Home in a research report on Wednesday, September 23rd. Royal Bank Of Canada cut their price objective on shares of KB Home from $50.00 to $47.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 15th. Finally, The Goldman Sachs Group set a $56.00 price objective on shares of KB Home in a research note on Monday, October 12th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.08.

KB Home Trading Down 2.2%

Shares of KBH opened at $51.96 on Tuesday. The firm’s 50-day moving average price is $47.63 and its 200-day moving average price is $53.53. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 2.76 and a beta of 1.36. KB Home has a 1-year low of $40.92 and a 1-year high of $67.57.

KB Home (NYSE:KBH) last posted its earnings results on Tuesday, September 22nd. The construction company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 EPS. On average, research analysts forecast that KB Home will post 3.26 EPS for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, November 12th. KB Home’s dividend payout ratio (DPR) is currently 28.17%.

Institutional Trading of KB Home

A number of institutional investors and hedge funds have recently modified their holdings of KBH. Bessemer Group Inc. lifted its position in KB Home by 80.0% during the first quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock valued at $26,000 after purchasing an additional 220 shares during the period. Eastern Bank purchased a new stake in KB Home in the second quarter worth approximately $26,000. Mather Group LLC. purchased a new stake in KB Home in the third quarter worth approximately $34,000. Polaris Financial Partners purchased a new stake in KB Home in the third quarter worth approximately $43,000. Finally, Ameritas Advisory Services LLC bought a new stake in KB Home in the 2nd quarter worth approximately $46,000. Institutional investors own 96.09% of the company’s stock.

KB Home Company Profile

KB Home (NYSE: KBH) is a homebuilder that develops and constructs residential communities across the United States. The company primarily builds single-family homes, along with certain attached homes and townhomes, serving first-time, move-up and active-adult buyers.

KB Home offers a range of home designs, floor plans and personalization options, allowing buyers to select features and finishes during the construction process. Its activities generally include land acquisition and development, home construction, sales and customer support, with homes built in both suburban and urban communities.

Founded in 1957, KB Home operates in markets across Arizona, California, Colorado, Florida, Idaho, Nevada, North Carolina, South Carolina, Texas and Washington.