Jim Cramer: KB Home Should Be Taken Out

KB Home (KBH) - Get Report put up a strong quarter and should be taken out considering its prime properties, said TheStreet's Jim Cramer. KB Home posted earnings of $0.42 a share yesterday, above consensus estimates of $0.39 a share. Revenue came in at $913.3 million, below analysts' projected $944.56 million in revenue. For the same quarter last year, the Los Angeles-based homebuilder earned $0.23 a share on revenue of $843.2 million. KB Home stock slumped earlier yesterday after data released from the Commerce Department showed that residential housing starts fell 5.8% to 1.14 million in August from July's revised 1.21 million rate. Analysts were expecting a smaller decline to 1.19 million.