NEW YORK (TheStreet) -- Shares of KB HOME (KBH) are up 2.07% to $18.25 in pre-market trading on Friday after it reported net income for the second quarter of 27 cents per share, up from a loss of 4 cents per share in the same period a year ago.
Revenue climbed to $565 million in the second quarter from $524 million a year ago, helped by higher selling prices of homes.
The company said its backlog as of May 31 was up 24% to $1.03 billion, exceeding the $1 billion mark for the first time since August 2008.
Must Read: Warren Buffett's 25 Favorite Stocks
Separately, TheStreet Ratings team rates KB HOME as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate KB HOME (KBH) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, generally higher debt management risk and weak operating cash flow."