KB Home (NYSE:KBH) Short Interest Update

KB Home (NYSE:KBH) was the target of a large drop in short interest in July. As of July 31st, there was short interest totalling 3,894,700 shares, a drop of 6.2% from the June 30th total of 4,152,600 shares. Currently, 4.6% of the company’s stock are sold short. Based on an average daily trading volume, of 1,590,000 shares, the short-interest ratio is presently 2.4 days.

KBH traded up $0.35 during trading on Friday, reaching $26.85. 1,164,442 shares of the company’s stock were exchanged, compared to its average volume of 1,708,761. KB Home has a 1 year low of $16.82 and a 1 year high of $27.65. The stock has a market capitalization of $2.40 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 1.16 and a beta of 1.39. The company’s fifty day simple moving average is $26.36 and its 200-day simple moving average is $25.08.

KB Home (NYSE:KBH) last posted its earnings results on Wednesday, June 26th. The construction company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.12. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $933.49 million. KB Home had a net margin of 5.94% and a return on equity of 12.43%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. As a group, analysts predict that KB Home will post 2.67 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.34%. This is a positive change from KB Home’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, July 31st. KB Home’s payout ratio is 12.77%.

In other news, Director Melissa Lora sold 3,291 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $26.86, for a total value of $88,396.26. Following the sale, the director now directly owns 169,994 shares in the company, valued at approximately $4,566,038.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.32% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of KBH. Balyasny Asset Management LLC increased its holdings in shares of KB Home by 666.7% during the 2nd quarter. Balyasny Asset Management LLC now owns 2,881,172 shares of the construction company’s stock valued at $74,133,000 after purchasing an additional 2,505,382 shares in the last quarter. Norges Bank purchased a new position in shares of KB Home during the 4th quarter valued at approximately $25,280,000. Long Pond Capital LP purchased a new position in shares of KB Home during the 1st quarter valued at approximately $13,697,000. Nuveen Asset Management LLC increased its holdings in shares of KB Home by 804.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 485,166 shares of the construction company’s stock valued at $12,483,000 after purchasing an additional 431,512 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of KB Home during the 1st quarter valued at approximately $8,201,000. 87.64% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently commented on KBH. Royal Bank of Canada upgraded shares of KB Home from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $25.00 to $30.00 in a research note on Thursday, May 16th. Bank of America reiterated a “neutral” rating and issued a $28.00 target price (up from $26.00) on shares of KB Home in a research note on Thursday, June 27th. Barclays upgraded shares of KB Home from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $24.00 to $29.00 in a research note on Monday, May 13th. Buckingham Research upgraded shares of KB Home from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $27.00 to $30.00 in a research note on Thursday, June 27th. Finally, SunTrust Banks began coverage on shares of KB Home in a research note on Monday. They issued a “buy” rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. KB Home has an average rating of “Hold” and a consensus target price of $26.82.

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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