KB Home Stock Pivots Lower Despite Quarterly Win

No fewer than three analysts adjusted their price targets

Digital Content Manager
Sep 21, 2023 at 10:55 AM
facebook X logo linkedin

KB Home (NYSE:KBH) stock is down 3.9% to trade at $46.20 at last check, despite the company yesterday sharing better-than-expected fiscal third-quarter earnings and revenue. A 41% drop in net income to $149.9 million is hurting the shares instead. Three brokerages also updated their price targets on KBH in response, with Wedbush adjusting from $64 to $55 earlier.

The 160-day moving average is containing today's pullback, which has the stock trading at its lowest level since June. The $52 region has also emerged as a ceiling after KBH's July 20, 16-year high of $55.37. The equity maintains a healthy 45.4% lead for 2023, however.

Options volume is running at nine times the intraday average, with 4,080 puts and 2,911 calls exchanged so far. The November 45-strike put is most popular, with new positions being opened there.

Short-term options traders lean overwhelmingly bearish. This is per KB Home stock's  Schaeffer's put/call open interest ratio (SOIR) of 6.25 that ranks in the top percentile of annual readings.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI