Ticonderoga Maintains a 'Buy' on KB Home (KBH); Operating Results Mixed Bag; Clock Is Ticking

Ticonderoga maintains a 'Buy' on KB Home (NYSE: KBH), PT $16.

Ticonderoga analyst says, "KBH reported a quarter with some gives and takes, but generally it was a fairly mediocre quarter. We believe the shares should be modestly weak based on the results and will need a good conference call to keep the shares at that level. To us, the operating leverage story espoused last quarter appears to be partially true, but land impairment charges jumping up again is a bit disconcerting given the relatively asset light model...In sum, much work left to be done and the clock is ticking as KBH’s fundamental performance lags the rest of the Homebuilding space."

For more ratings news on KB Home click here and for the rating history of KB Home click here.

Shares of KB Home closed at $11.92 yesterday.

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