KB Home Target of Unusually Large Options Trading (NYSE:KBH)


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KB Home (NYSE:KBH) saw some unusual options trading on Wednesday. Stock traders acquired 9,148 call options on the stock. This represents an increase of 290% compared to the typical daily volume of 2,345 call options.

KBH traded up $0.86 during midday trading on Wednesday, reaching $35.01. The company had a trading volume of 6,251,207 shares, compared to its average volume of 2,665,260. The business has a 50-day moving average of $34.53 and a two-hundred day moving average of $35.12. The company has a market cap of $3.17 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.46 and a beta of 1.95. KB Home has a 1 year low of $9.82 and a 1 year high of $42.20.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Monday, January 11th. The construction company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.19. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. KB Home had a return on equity of 12.68% and a net margin of 6.89%. The company’s revenue for the quarter was down 23.0% on a year-over-year basis. During the same period last year, the company earned $1.31 EPS. Research analysts forecast that KB Home will post 2.89 EPS for the current fiscal year.

KBH has been the topic of several analyst reports. Bank of America boosted their target price on KB Home from $42.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, September 23rd. Wedbush raised KB Home from a “neutral” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Wednesday. ValuEngine raised KB Home from a “strong sell” rating to a “sell” rating in a report on Saturday. Seaport Global Securities raised KB Home from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Tuesday, November 10th. Finally, Barclays upped their price target on KB Home from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, September 23rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $40.53.

In related news, COO Matthew W. Mandino sold 9,248 shares of KB Home stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $40.73, for a total transaction of $376,671.04. Also, CEO Jeffrey T. Mezger sold 3,600 shares of KB Home stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $35.68, for a total value of $128,448.00. Following the sale, the chief executive officer now owns 991,090 shares in the company, valued at $35,362,091.20. The disclosure for this sale can be found here. Insiders have sold 450,680 shares of company stock worth $16,211,727 over the last 90 days. 5.36% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of KBH. FMR LLC lifted its stake in shares of KB Home by 137.5% in the 2nd quarter. FMR LLC now owns 4,658,797 shares of the construction company’s stock valued at $142,931,000 after purchasing an additional 2,697,326 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of KB Home by 176.1% in the third quarter. JPMorgan Chase & Co. now owns 2,166,106 shares of the construction company’s stock worth $81,640,000 after buying an additional 1,381,606 shares during the period. Ninety One UK Ltd purchased a new stake in shares of KB Home in the second quarter worth approximately $18,382,000. Allianz Asset Management GmbH raised its holdings in shares of KB Home by 58.7% in the third quarter. Allianz Asset Management GmbH now owns 762,265 shares of the construction company’s stock worth $29,264,000 after buying an additional 281,818 shares during the period. Finally, Columbus Circle Investors raised its holdings in shares of KB Home by 40.6% in the third quarter. Columbus Circle Investors now owns 595,919 shares of the construction company’s stock worth $22,877,000 after buying an additional 171,983 shares during the period. 76.79% of the stock is owned by institutional investors and hedge funds.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates through 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, second move-up, and active adult homebuyers.

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