KB Home shares fell 19 percent on Thursday, headed for its worst day of trading since August 1992.
The Los Angeles-based homebuilding company provided lower than expected guidance for its fourth quarter results. Credit Suisse, Wells Fargo, Barclays and Wedbush all slashed their price targets on KB Home stock. Bank of America Merrill Lynch both cut its rating to neutral from buy and its price target to $24 a share from $26 a share.
KB Home traded as low as $16.91 a share on Thursday.
