KB Home Reaches 4-Year High After Q2 Beat

KB Home KBH shares are trading higher by 80 cents (3.5 percent) at $23.56 on Wednesday's session.

The catalyst for the rally to a four-year high is a Q2 EPS beat of 7 cents along with a strong sales beat of $72.6 million.

After a flat open, KB Home tailed off but found support under Tuesday's close ($22.82) at $22.53 and embarked on a powerful rally. Once it surpassed Tuesday's high ($23.16), the pace of the rally accelerated. It has continued to make new highs for the session, with the current one standing at $23.64 as of 10:30 a.m. EST.

That marks the highest level for the stock since May 28, 2013, when it peaked at $23.95.