Credit Suisse Group Raises KB Home (NYSE:KBH) Price Target to $44.00

KB Home (NYSE:KBH) had its price objective upped by Credit Suisse Group from $36.00 to $44.00 in a research note issued to investors on Tuesday, The Fly reports. Credit Suisse Group currently has an outperform rating on the construction company’s stock.

KBH has been the subject of a number of other reports. Wedbush upped their price target on KB Home from $33.00 to $38.00 and gave the stock a neutral rating in a report on Thursday, August 6th. Zacks Investment Research cut shares of KB Home from a buy rating to a hold rating and set a $36.00 target price for the company. in a research note on Tuesday, June 16th. Barclays restated a buy rating on shares of KB Home in a research report on Sunday, June 28th. ValuEngine raised shares of KB Home from a strong sell rating to a sell rating in a research report on Monday, August 3rd. Finally, Goldman Sachs Group downgraded KB Home from a neutral rating to a sell rating and decreased their target price for the stock from $31.00 to $26.00 in a research report on Thursday, July 16th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $35.61.

KB Home stock traded down $0.07 on Tuesday, reaching $36.23. 32,665 shares of the stock were exchanged, compared to its average volume of 2,383,811. KB Home has a twelve month low of $9.82 and a twelve month high of $40.51. The firm has a fifty day moving average price of $31.94 and a two-hundred day moving average price of $29.72. The stock has a market cap of $3.33 billion, a PE ratio of 11.00, a PEG ratio of 1.50 and a beta of 1.98.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Wednesday, June 24th. The construction company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. KB Home had a return on equity of 12.65% and a net margin of 6.43%. The business had revenue of $913.97 million for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. Equities analysts anticipate that KB Home will post 2.62 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Wednesday, August 5th. KB Home’s dividend payout ratio (DPR) is 12.63%.

In other KB Home news, Director Melissa Lora sold 8,202 shares of KB Home stock in a transaction on Thursday, July 16th. The stock was sold at an average price of $31.70, for a total transaction of $260,003.40. Following the completion of the transaction, the director now directly owns 177,193 shares of the company’s stock, valued at $5,617,018.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.36% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in KBH. Macquarie Group Ltd. raised its stake in shares of KB Home by 11.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,791,864 shares of the construction company’s stock valued at $61,407,000 after acquiring an additional 184,161 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in KB Home by 4.7% in the first quarter. State of Alaska Department of Revenue now owns 14,749 shares of the construction company’s stock worth $266,000 after purchasing an additional 666 shares in the last quarter. Artemis Investment Management LLP acquired a new position in KB Home in the first quarter worth $3,475,000. 6 Meridian bought a new stake in shares of KB Home during the first quarter worth $299,000. Finally, Hennessy Advisors Inc. increased its stake in shares of KB Home by 16.5% in the first quarter. Hennessy Advisors Inc. now owns 383,000 shares of the construction company’s stock valued at $6,932,000 after buying an additional 54,200 shares in the last quarter. Hedge funds and other institutional investors own 89.49% of the company’s stock.

About KB Home

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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