UPDATE - Williams Financial Group Initiates Coverage on KB Home (KBH) with a Hold; Still Concerns with Debt, SG&A
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Price: $54.46 --0%
Rating Summary:
4 Buy, 24 Hold, 7 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
4 Buy, 24 Hold, 7 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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UPDATE - Williams Financial Group initiates coverage on KB Home (NYSE: KBH) with a Hold. PT $14.00.
Analyst, David N. Williams, said, "32% of total land inventory is mothballed and not expected to be realized within the next six years. $500 million in land spend expected in 2012...The company’s heavy debt balance, short cash position, and anticipated land spend may place strain on the balance sheet if anticipated improvements fail to be realized...Gross margins generally underperform the peer average, but leverage to backlog and 4-500 bps higher Built-to-order sales should drive some improvement in 2012....SG&A FY11 expense still too high at FY11 average of 20%."
To see more ratings on KBH, Click Here
Analyst, David N. Williams, said, "32% of total land inventory is mothballed and not expected to be realized within the next six years. $500 million in land spend expected in 2012...The company’s heavy debt balance, short cash position, and anticipated land spend may place strain on the balance sheet if anticipated improvements fail to be realized...Gross margins generally underperform the peer average, but leverage to backlog and 4-500 bps higher Built-to-order sales should drive some improvement in 2012....SG&A FY11 expense still too high at FY11 average of 20%."
To see more ratings on KBH, Click Here
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