Bank of America Raises KB Home (NYSE:KBH) Price Target to $90.00

KB Home (NYSE:KBH) had its price objective hoisted by Bank of America from $75.00 to $90.00 in a research report sent to investors on Thursday, Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

Several other research firms have also issued reports on KBH. Keefe, Bruyette & Woods upped their price target on shares of KB Home from $74.00 to $77.00 and gave the stock a market perform rating in a research report on Thursday, June 20th. Royal Bank of Canada cut KB Home from a sector perform rating to an underperform rating and set a $70.00 price target for the company. in a report on Thursday, September 5th. Evercore ISI boosted their price target on KB Home from $86.00 to $89.00 and gave the stock an outperform rating in a research report on Monday, July 15th. The Goldman Sachs Group lifted their target price on KB Home from $72.00 to $82.00 and gave the stock a neutral rating in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company increased their price target on KB Home from $70.00 to $80.00 and gave the company an equal weight rating in a research note on Monday, September 9th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, KB Home has an average rating of Hold and an average price target of $74.96.

KB Home Stock Down 2.7 %

NYSE:KBH opened at $87.23 on Thursday. KB Home has a twelve month low of $42.11 and a twelve month high of $89.70. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 0.80 and a beta of 1.81. The stock’s 50 day moving average price is $81.99 and its two-hundred day moving average price is $73.08.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.25 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. KB Home’s payout ratio is 13.23%.

Hedge Funds Weigh In On KB Home

A number of hedge funds have recently added to or reduced their stakes in KBH. Fidelis Capital Partners LLC acquired a new stake in shares of KB Home during the 1st quarter worth $60,000. Plato Investment Management Ltd lifted its position in KB Home by 72.0% during the first quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock worth $77,000 after purchasing an additional 452 shares during the period. Tortoise Investment Management LLC grew its stake in KB Home by 625.3% during the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock worth $78,000 after buying an additional 963 shares in the last quarter. Manchester Capital Management LLC increased its holdings in KB Home by 134.4% in the 1st quarter. Manchester Capital Management LLC now owns 1,137 shares of the construction company’s stock valued at $81,000 after buying an additional 652 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of KB Home in the 1st quarter valued at approximately $120,000. Institutional investors own 96.09% of the company’s stock.

About KB Home

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.