KB Home (KBH) has been witnessing healthy business in Tucson, AZ and further intends to affirm its footprint in the area. Therefore, the homebuilding company is planning expand its operations in the region. KB Home plans to open several communities and a design studio in the region. It intends to execute these plans under the leadership of Amy McReynolds, senior vice president of its Tucson business.
In the upcoming quarters, KB Home plans to open two new home communities in Tucson. This homebuilding company has already opened four new home communities in the area so far this year. These new communities include Cantabria at Rancho Valencia; Somerset at Gladden Farms; Presidio Porvenir at Rancho Sahuarita, and Mountain Vail Reserve. By the end of 2014, the opening of the communities in Tucson will push the company’s community count to its highest level in five years.
Homebuyers will also benefit from the new design studio to be launched in fall 2014 in downtown Tucson. New Design Studio allows customers to choose from thousands of design options that are in-line with their preferences.
These days, homebuyers enjoy the flexibility to design their new homes and are ready to pay more to incorporate their personal choices. Customers can take their pick from various designs and latest home automation technologies. KB Home customers will be assisted by trained professionals to help them choose from the various options available.
The introduction of KB Home Design Studios is in sync with the company’s fundamental operating model, KBnxt, whereby construction is initiated only after a purchase agreement is executed. KB Home is set to release its third-quarter fiscal 2014 results tomorrow, before the market opens. The Zacks Consensus Estimate for the third quarter 2014 earnings is 38 cents and Earnings ESP is 0.00%.
Another homebuilding company, Lennar Corp. (LEN), which reported last week, managed to beat the Zacks Consensus Estimate on both counts in fiscal third quarter of 2014.
KB Home is a Zacks Rank #3 (Hold).
Other Stock to Consider
Better-ranked stocks in the building and related sector include The Home Depot, Inc. (HD) and Team, Inc. (TISI), both carrying a Zacks Rank #2 (Buy).
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