KB Home (NYSE:KBH) Sees Large Growth in Short Interest

KB Home (NYSE:KBH) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 6,310,000 shares, an increase of 9.5% from the October 31st total of 5,760,000 shares. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is presently 5.8 days. Approximately 8.9% of the company’s shares are short sold.

Insider Buying and Selling at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares in the company, valued at $2,737,156.20. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.44% of the company’s stock.

Hedge Funds Weigh In On KB Home

Several institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in shares of KB Home by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 47,439 shares of the construction company’s stock valued at $3,363,000 after buying an additional 1,780 shares in the last quarter. Janus Henderson Group PLC raised its position in KB Home by 6.1% during the first quarter. Janus Henderson Group PLC now owns 65,093 shares of the construction company’s stock valued at $4,611,000 after purchasing an additional 3,735 shares during the period. Tidal Investments LLC bought a new stake in shares of KB Home in the 1st quarter valued at approximately $1,177,000. Comerica Bank boosted its holdings in shares of KB Home by 123.0% in the 1st quarter. Comerica Bank now owns 75,154 shares of the construction company’s stock worth $5,327,000 after purchasing an additional 41,452 shares during the period. Finally, Cetera Investment Advisers purchased a new position in shares of KB Home in the 1st quarter worth approximately $1,588,000. Institutional investors own 96.09% of the company’s stock.

KB Home Price Performance

Shares of KB Home stock traded up $0.42 during trading on Monday, reaching $83.16. 771,045 shares of the stock traded hands, compared to its average volume of 1,206,743. KB Home has a 52-week low of $53.54 and a 52-week high of $89.70. The business has a fifty day simple moving average of $81.14 and a two-hundred day simple moving average of $78.10. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 0.71 and a beta of 1.81.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.02). The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.80 EPS. On average, research analysts predict that KB Home will post 8.44 earnings per share for the current fiscal year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.20%. The ex-dividend date was Thursday, November 14th. KB Home’s dividend payout ratio is presently 12.82%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KBH. Bank of America raised 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. Wells Fargo & Company lowered shares of KB Home from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $80.00 to $83.00 in a research note on Monday, October 7th. Barclays increased their target price on KB Home from $78.00 to $99.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Wedbush lifted their price target on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, The Goldman Sachs Group upped their price objective on KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, KB Home presently has an average rating of “Hold” and an average price target of $77.50.

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.