Toll Brothers (TOL) At 52-Week High: Can It Scale Higher?
Zacks Investment Research | Jun 21, 2017 05:41AM ET
On Jun 20, shares of Toll Brothers Inc. (NYSE:TOL) rallied to a 52-week high of $39.75. The stock pulled back to end the trading session at $39.02.
The nation's leading builder of luxury homes has seen its shares rise roughly 25.9% so far this year, as against a 9.7% increase for the construction sector over the same period. That said, we have noticed that the company has outperformed the industry in each of the 4-week, 12-week and 52-week time frames.
The stock has a market cap of $6.34 billion. Average volume of shares traded over the last three months was approximately 1.91 million. Over the last one week, the Zacks Consensus Estimate for Toll Brothers moved up 0.3% to $3.14 for fiscal 2017. Earnings for this Zacks Rank #3 (Hold) company are expected to grow 43.2% in fiscal 2017. We also note that the company displays long-term earnings growth rate of 11.2%, reinstating customer confidence in the stock.
Other homebuilding stocks that attained a 52-week high in yesterday’s session include Masco Corporation (NYSE:MAS) , Lennar Corporation (NYSE:LEN) and NVR, Inc. (NYSE:NVR) . This could probably be attributable to Lennar’s stellar second quarter fiscal 2017 performance, which raised investors’ confidence about the overall industry.
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