KB Home (NYSE:KBH) Upgraded by Evercore ISI to Outperform

Evercore ISI upgraded shares of KB Home (NYSE:KBH) from an in-line rating to an outperform rating in a research report released on Wednesday morning, Benzinga reports. Evercore ISI currently has $26.74 price objective on the construction company’s stock.

Several other equities research analysts have also issued reports on KBH. Raymond James set a C$1.00 price objective on Orezone Gold and gave the company an outperform rating in a research note on Friday, June 28th. BTIG Research lowered EVO Payments from a buy rating to a neutral rating in a research note on Monday, July 1st. ValuEngine lowered Zogenix from a strong-buy rating to a buy rating in a research note on Thursday, April 11th. Credit Suisse Group reaffirmed a neutral rating on shares of Aggreko in a research note on Wednesday, March 27th. Finally, Bank of America set a $420.00 price objective on Boeing and gave the company a hold rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. KB Home has a consensus rating of Hold and an average price target of $26.30.

NYSE:KBH opened at $26.64 on Wednesday. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 1.13 and a beta of 1.42. KB Home has a 1 year low of $16.82 and a 1 year high of $27.64. The company has a 50 day moving average of $25.86.



KB Home (NYSE:KBH) last posted its quarterly earnings data on Wednesday, June 26th. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.12. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $933.49 million. KB Home had a return on equity of 12.43% and a net margin of 5.94%. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. Research analysts anticipate that KB Home will post 2.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be paid a dividend of $0.09 per share. This is a positive change from KB Home’s previous quarterly dividend of $0.03. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Wednesday, July 31st. KB Home’s dividend payout ratio (DPR) is currently 3.55%.

In related news, CAO William R. Hollinger sold 68,147 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $26.16, for a total transaction of $1,782,725.52. Following the completion of the sale, the chief accounting officer now directly owns 228,174 shares of the company’s stock, valued at approximately $5,969,031.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian J. Woram sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $27.02, for a total value of $270,200.00. Following the sale, the executive vice president now directly owns 151,770 shares of the company’s stock, valued at $4,100,825.40. The disclosure for this sale can be found here. 7.32% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the stock. ETF Managers Group LLC lifted its stake in shares of KB Home by 11.2% during the 1st quarter. ETF Managers Group LLC now owns 5,042 shares of the construction company’s stock worth $122,000 after acquiring an additional 506 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in KB Home by 4.3% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,900 shares of the construction company’s stock valued at $615,000 after purchasing an additional 975 shares in the last quarter. Texas Permanent School Fund raised its position in KB Home by 1.9% during the 1st quarter. Texas Permanent School Fund now owns 57,458 shares of the construction company’s stock valued at $1,389,000 after purchasing an additional 1,053 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in KB Home by 3.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 34,469 shares of the construction company’s stock valued at $833,000 after purchasing an additional 1,138 shares in the last quarter. Finally, American International Group Inc. raised its position in KB Home by 0.6% during the 4th quarter. American International Group Inc. now owns 230,705 shares of the construction company’s stock valued at $4,406,000 after purchasing an additional 1,292 shares in the last quarter. 89.53% 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 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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Analyst Recommendations for KB Home (NYSE:KBH)

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