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Toll Brothers, Inc. (TOL) is a luxury homebuilder.
The firm designs, builds, markets, and arranges finance for detached and attached homes in luxury residential communities.
The company operates through two segments, Traditional Home Building and City Living.
It also builds and sells homes in urban infill markets under the Toll Brothers City Living name.
In addition, the company develops, owns, and operates golf courses and country clubs that are associated with various master planned communities; develops and sells land to other builders; and develops, operates, and rents apartments.
The company serves move-up, empty-nester, active-adult, age-qualified, and second-home buyers in 19 states in the United States. Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock.
Note that yesterday S&P Dow Jones Indices released its October "Case-Shiller" reading, a heavily-used measure of U.S. home prices. The national index registered a 5.6% annual gain in October, up from 5.4% last month, while the 20-city composite showed a gain of 5.1% versus September's 5.0%. Commenting on the numbers, the company said, "Home prices and the economy are both enjoying robust numbers. However, mortgage interest rates rose in November and are expected to rise further as home prices continue to outpace gains in wages and personal income... With the current high consumer confidence numbers and low unemployment rate, affordability trends do not suggest an immediate reversal in home price trends. The report should help shares of TOL move higher.
52-Weeks Trading Range: $23.75 - $33.96
Entry Point: $31.90
Stop Loss: $30.00
Target Price: $35.09
TOL closed at $31.43
