Barclays Raises KB Home (NYSE:KBH) Price Target to $99.00

KB Home (NYSE:KBH) had its price objective hoisted by Barclays from $78.00 to $99.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the construction company’s stock.

A number of other research firms have also recently commented on KBH. Bank of America upped their price objective on KB Home from $75.00 to $90.00 and gave the company a neutral rating in a research report on Thursday, September 19th. The Goldman Sachs Group upped their price target on shares of KB Home from $72.00 to $82.00 and gave the company a neutral rating in a research report on Tuesday, September 3rd. Wedbush reissued a neutral rating and issued a $67.00 price objective on shares of KB Home in a report on Thursday, September 12th. Royal Bank of Canada cut shares of KB Home from a sector perform rating to an underperform rating and set a $70.00 target price for the company. in a report on Thursday, September 5th. Finally, Evercore ISI lifted their price target on shares of KB Home from $86.00 to $89.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, KB Home presently has an average rating of Hold and an average target price of $77.27.

KB Home Stock Performance

NYSE KBH opened at $85.90 on Wednesday. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 0.89 and a beta of 1.81. The stock has a 50-day moving average of $82.46 and a 200 day moving average of $73.51. KB Home has a one year low of $42.11 and a one year high of $89.70.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a net margin of 9.43% and a return on equity of 15.66%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the company earned $1.80 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts predict that KB Home will post 8.38 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Thursday, August 8th. KB Home’s dividend payout ratio is currently 13.23%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KBH. Norges Bank purchased a new stake in KB Home during the 4th quarter valued at approximately $36,761,000. LSV Asset Management grew its stake in KB Home by 118.4% during the second quarter. LSV Asset Management now owns 1,056,400 shares of the construction company’s stock valued at $74,138,000 after acquiring an additional 572,800 shares in the last quarter. Swedbank AB bought a new stake in KB Home in the 1st quarter valued at $13,047,000. WINTON GROUP Ltd lifted its stake in KB Home by 754.7% in the 2nd quarter. WINTON GROUP Ltd now owns 206,789 shares of the construction company’s stock worth $14,512,000 after purchasing an additional 182,595 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of KB Home by 9.6% during the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock valued at $118,244,000 after purchasing an additional 147,326 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

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. 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.