La catena delle opzioni mostra i dati chiave delle opzioni azionarie di Toll Brothers a vari prezzi di esercizio e date di scadenza. I trader utilizzano queste informazioni per analizzare potenziali operazioni e valutare il sentiment del mercato per Toll Brothers..

Toll Brothers (NYSE:TOL) Azioni, Catena delle Opzioni

Toll Brothers

Toll Brothers is the leading luxury homebuilder in the United States with an average sale price well above public competitors'. The company operates in over 60 markets across 24 states and caters to move-up, active-adult, and second-home buyers. Traditional homebuilding operations represent most of company's revenue. Toll Brothers also builds luxury for-sale and for-rent properties in urban centers across the US It has its headquarters in Horsham, Pennsylvania.

Toll Brothers Inc

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USA Pending Home Sales (MoM) For September 7.4% Vs 1.9% Est.; 0.6% Prior

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Shares of homebuilders and housing-related stocks are trading lower in possible sympathy with D.R. Horton, which reported worse-than-expected Q4 EPS and sales.

Wedbush analyst Jay McCanless upgraded Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) to Outperform from Neutral, <a target="_blank" href="https://www.benzinga.com/quote/TOL/analyst-ratings" rel="noreferrer noopener">raising the price forecast to $175 from $148.</a>
The analyst indicates that the recent dip in the company&#8217;s shares due to rising mortgage rates has created a buying opportunity.
With the stock market recently reaching all-time highs, this could positively influence demand. Additionally, the analyst notes recent positive demand commentary from Toll&#8217;s publicly traded competitors.
McCanless points out that the average Toll buyer is less focused on monthly payments compared to most of the stick builder coverage. Instead, these buyers are more attuned to their personal financial situations.
For the fourth quarter of fiscal 2024, the analyst raised the unit closing estimate to the upper end of Toll&#8217;s range of 3,275 to 3,375 units, though there may be some hurricane-related risks associated with this higher estimate.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41552274/tech-stocks-rally-as-investors-await-magnificent-7-earnings-dollar-eyes-fourth-straight-positive-we" rel="noreferrer noopener">Tech Stocks Rally As Investors Await Magnificent 7 Earnings; Dollar Eyes Fourth Straight Positive Week: What&#8217;s Driving Markets Friday?</a>
However, the overall impact of Hurricanes Milton and Helene appears to have been minimal.
For fiscal year 2025, the housing gross margin has been raised to 26.8% from 26.7%, based on the anticipated continuation of pricing power, the analyst adds.
The analyst raised the FY25 revenue estimate to $10.735 billion from $10.670 billion and the FY25 EPS estimate to $15.00 from $14.86.
Price Action: TOL shares are trading lower by 1.11% to $149.04 at last check Friday.
Photo by Sundry Photography via Shutterstock
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Toll Brothers Stock A Buying Opportunity Amid Rising Mortgage Rates: Analyst

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>A<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/587386a65064ed0001b4b62c/bill-selesky">rgus Research analyst Bill Selesky</a> upgraded the rating for Baker Hughes Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) from Hold to Buy. Baker Hughes shares closed at $36.78 on Thursday. <a href="https://www.benzinga.com/quote/BKR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst Jon Tower upgraded the rating for Denny&#8217;s Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DENN#NASDAQ">DENN</a>) from Neutral to Buy and raised the price target from $7 to $7.5. Denny&#8217;s shares closed at $6.26 on Thursday. <a href="https://www.benzinga.com/quote/DENN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wedbush analyst Jay McCanless upgraded Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) from Neutral to Outperform and raised the price target from $148 to $175. Toll Brothers shares closed at $150.71 on Thursday. <a href="https://www.benzinga.com/quote/TOL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wedbush analyst Jay McCanless upgraded the rating for Taylor Morrison Home Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMHC#NYSE">TMHC</a>) from Neutral to Outperform and boosted the price target from $65 to $85. Taylor Morrison Home shares closed at $68.36 on Thursday. <a href="https://www.benzinga.com/quote/TMHC/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying TOL stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="533" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25142700/image-261-1024x533.png" alt="" class="wp-image-615135" style="width:690px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25142700/image-261-1024x533.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25142700/image-261-300x156.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25142700/image-261-768x400.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/25142700/image-261.png 1222w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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This Toll Brothers Analyst Turns Bullish; Here Are Top Upgrades For Friday

Wedbush analyst Jay McCanless upgrades Toll Brothers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) from Neutral to Outperform and raises the price target from $148 to $175.

Wedbush Upgrades Toll Brothers to Outperform, Raises Price Target to $175

Toll Brothers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) has outperformed the market over the past 10 years by 5.03% on an annualized basis producing an average annual return of 16.29%. Currently, Toll Brothers has a market capitalization of $14.95 billion. 
Buying $100 In TOL: If an investor had bought $100 of TOL stock 10 years ago, it would be worth $456.22 today based on a price of $148.10 for TOL at the time of writing.
<h3>Toll Brothers's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729710010_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $100 In This Stock 10 Years Ago, You Would Have $500 Today

Shares of homebuilder and construction companies are trading lower in possible sympathy with PulteGroup, which fell after reporting Q3 earnings. Stocks across sectors are also down today on macro uncertainty, rising yields and Richmond manufacturing data.

As of Oct. 21, 2024, four stocks in the consumer discretionary sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pr</a>o. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Nordstrom Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>)</h3>
<ul>
<li>On Sept. 26, Keybanc analyst Ashley Owens downgraded Nordstrom from Overweight to Sector Weight. The company's stock gained around 10% over the past five days and has a 5<a href="https://www.benzinga.com/quote/JWN">2-week high of $24.93</a>.</li>
<li>RSI Value: 76.29&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>JWN Price Action: Shares of Nordstrom gained 0.9% to close at $24.67 on Friday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102124&amp;t=be2bearmibe3na1"> latest JWN news</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102124&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="893" height="827" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045304/image-176.png" alt="" class="wp-image-604687" style="width:701px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045304/image-176.png 893w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045304/image-176-300x278.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045304/image-176-768x711.png 768w" sizes="(max-width: 893px) 100vw, 893px" /></a></figure>
<h3 class="wp-block-heading">Toll Brothers Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>)</h3>
<ul>
<li>On Oct. 2, Oppenheimer analyst Tyler Batory maintained Toll Brothers with an Outperform and raised the price target from $168 to $189. The company's stock gained around 6% over the past five days and <a href="https://www.benzinga.com/quote/TOL">has a 52-week high</a> of $160.12.</li>
<li>RSI Value: 72.41</li>
<li>TOL Price Action: Shares of Toll Brothers rose 1.9% to close at $159.58 on Friday. </li>
<li>Benzinga Pro&#8217;s charting tool helped identify the<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102124&amp;t=be2bearmibe3na1"> trend in TOL stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102124&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="913" height="842" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045226/image-175.png" alt="" class="wp-image-604683" style="width:677px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045226/image-175.png 913w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045226/image-175-300x277.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045226/image-175-768x708.png 768w" sizes="(max-width: 913px) 100vw, 913px" /></a></figure>
<h3 class="wp-block-heading">Autoliv Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALV#NYSE">ALV</a>)</h3>
<ul>
<li>On Oct. 18, Autoliv reported better-than-expected third-quarter sales results. Mikael Bratt, President &amp; CEO said, "Light vehicle production was weak in the third quarter, declining by close to 5% globally. This was driven by a combination of inventory reductions, especially in the Americas and a high comparison base, especially in China. In this tough environment, Autoliv managed to outgrow LVP by 4pp, enabling almost unchanged sales and operating income. This is despite a $14 million cost item related to a supplier settlement." The company's stock gained around 6% over the past five days and has a <a href="https://www.benzinga.com/quote/ALV">52-week high</a> of $129.38.</li>
<li>RSI Value: 70.49</li>
<li>ALV Price Action: Shares of Autoliv gained 6% to close at $99.52 on Friday. </li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102124&amp;t=be2bearmibe3na1">breakout in ALV shares</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102124&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="892" height="853" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045149/image-174.png" alt="" class="wp-image-604682" style="width:696px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045149/image-174.png 892w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045149/image-174-300x287.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045149/image-174-768x734.png 768w" sizes="(max-width: 892px) 100vw, 892px" /></a></figure>
<h3 class="wp-block-heading">McDonald&#8217;s Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>)</h3>
<ul>
<li>On Oct. 16, TD Cowen analyst Andrew Charles maintained McDonald&#8217;s with a Hold and raised the price target from $280 to $300. The company's stock jumped around 6% over the past month and has a 52-week high is $317.18.</li>
<li>RSI Value: 82.85</li>
<li>MCD Price Action: Shares of McDonald&#8217;s gained 0.6% to close at $316.56 on Friday. </li>
<li>Benzinga Pro's earnings calendar was used to track upcoming <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102124&amp;t=be2bearmibe3na1">MCD earnings reports</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent102124&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="897" height="837" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045127/image-173.png" alt="" class="wp-image-604680" style="width:711px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045127/image-173.png 897w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045127/image-173-300x280.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/21045127/image-173-768x717.png 768w" sizes="(max-width: 897px) 100vw, 897px" /></a></figure>
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41421321/dow-s-p-500-settle-at-record-high-levels-record-6th-consecutive-week-of-gains-fear-index-moves-to-e">Dow, S&amp;P 500 Settle At Record High Levels, Record 6th Consecutive Week Of Gains: Fear Index Moves To &#8216;Extreme Greed&#8217; Zone</a></li>
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Long Ideas

Pre-Market Outlook

Top 4 Consumer Stocks That May Dip This Quarter

Toll Brothers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) has outperformed the market over the past 15 years by 3.12% on an annualized basis producing an average annual return of 15.02%. Currently, Toll Brothers has a market capitalization of $15.79 billion. 
Buying $100 In TOL: If an investor had bought $100 of TOL stock 15 years ago, it would be worth $802.51 today based on a price of $156.41 for TOL at the time of writing.
<h3>Toll Brothers's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729177249_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Toll Brothers 15 Years Ago Would Be Worth Today

Hurricane Milton has left a significant mark on the Florida housing market, with cities such as Orlando, Tampa, Lakeland, Sarasota and Daytona Beach facing the <a href="https://www.benzinga.com/topic/hurricane-milton">brunt of the storm. </a>
As recovery efforts begin, analysts expect the state&#8217;s homebuilding sector to absorb an estimated $1.7 billion to $2.5 billion hit, according to a report from Goldman Sachs analyst Susan Maklari.
<h1 class="wp-block-heading">Homebuilder Exposure To Milton And Potential Delays</h1>
Homebuilders with significant exposure in the affected regions face potential delays in construction and home closings.
Maklari notes that major homebuilders such as PulteGroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>), Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>), and D.R. Horton Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) have significant exposure in the impacted regions, with 17%, 14%, and 11% of their 2023 closings, respectively, concentrated in these areas.
In contrast, builders like KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) and Toll Brothers Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) have minimal exposure, with less than 3% each. Historically, homebuilders in Florida have faced delays of around 4-6 weeks following severe weather events, primarily due to resource allocation to existing community recovery efforts and labor shortages. 
Given Hurricane Milton&#8217;s strength, widespread geographic reach, and timing — just two weeks after Hurricane Helene — Maklari believes these delays could be extended even further.
"We expect some closings to be delayed, but this appears to be more of a timing issue. Any potential shortfall in Q4 will likely be made up in early 2025," Maklari said. 
The good news for builders is that many homes are already in later construction stages as they aim to hit year-end targets, and most builders tend to avoid constructing in floodplains.
Goldman Sachs estimates the total industry impact to fall between $1.7 billion and $2.5 billion, based on historical delays and local median home prices.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/10/41278536/florida-is-a-top-state-for-new-home-builds-could-hurricane-milton-slow-it-down-4-homebuilder-sto">Florida Is A Top State For New Home Builds — Could Hurricane Milton Slow It Down? 4 Homebuilder Stocks That Could Come Under Pressure</a>
<h1 class="wp-block-heading">Builder Exposure Breakdown: Orlando And Tampa</h1>
The Orlando and Tampa metropolitan areas are two of the hardest-hit regions. 
In Orlando, D.R. Horton leads the market with 2,351 closings in 2023, accounting for 16.7% market share, followed closely by Lennar Corp. with 2,242 closings and a 15.9% share. 
In Tampa, Lennar has an even larger presence, with 3,570 closings making up 28.7% of the market, while D.R. Horton holds 21.6%.
<h1 class="wp-block-heading">Top Homebuilders In Orlando-Kissimmee-Sanford, Fla. MSA (2023 Unit Closings):</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td># Company</td>
<td>Closings</td>
<td>Mkt. Share</td>
<td>% of Homes Closed by Company</td>
</tr>
<tr>
<td>1 D.R. Horton</td>
<td>2,351</td>
<td>16.7%</td>
<td>2.6%</td>
</tr>
<tr>
<td>2 Lennar Corp.</td>
<td>2,242</td>
<td>15.9%</td>
<td>3.1%</td>
</tr>
<tr>
<td>3 The Villages of Lake Sumter</td>
<td>2,129</td>
<td>15.1%</td>
<td>77.9%</td>
</tr>
<tr>
<td>4 PulteGroup</td>
<td>1,852</td>
<td>13.2%</td>
<td>6.5%</td>
</tr>
<tr>
<td>5 Dream Finders Homes Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFH#NYSE">DFH</a>)</td>
<td>791</td>
<td>5.6%</td>
<td>10.8%</td>
</tr>
</tbody>
</table>
</figure>
<h1 class="wp-block-heading">Top Homebuilders In Tampa-St. Petersburg-Clearwater, Fla. MSA (2023 Unit Closings):</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Rank</th>
<th>Company</th>
<th>Closings</th>
<th>Market Share (%)</th>
</tr>
</thead>
<tbody>
<tr>
<td>1</td>
<td> Lennar Corp.</td>
<td> 3,570</td>
<td> 28.7</td>
</tr>
<tr>
<td>2</td>
<td> D.R. Horton</td>
<td> 2,692</td>
<td> 21.6</td>
</tr>
<tr>
<td>3</td>
<td> Homes by Westbay</td>
<td> 792</td>
<td> 6.4</td>
</tr>
<tr>
<td>4</td>
<td> PulteGroup</td>
<td> 756</td>
<td> 6.1</td>
</tr>
<tr>
<td>5</td>
<td> M/I Homes</td>
<td> 747</td>
<td> 6.0</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Goldman Sachs</figcaption></figure>
<h1 class="wp-block-heading">Muted But Prolonged Impact On Building Products Demand</h1>
The broader building products sector is expected to experience a relatively muted response, with demand for materials such as roofing, flooring and insulation likely spread out over several months.
While Goldman Sachs does not anticipate a significant rise in overall product volumes, the short-term need for repairs could lead to temporary spikes in activity.
When it comes to damage to existing homes, the extent of destruction depends on the storm's specific characteristics, such as wind speed and flooding levels. 
Roofs, windows, and siding are typically most affected by wind damage, while floors, wallboard and insulation often suffer during flooding events. Key players in these product categories include:
<ul>
<li>Roofing: Owens Corning Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>), Carlisle Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSL#NYSE">CSL</a>)</li>
<li>Windows: JELD-WEN Holding Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JELD#NYSE">JELD</a>)</li>
<li>Siding: Louisiana-Pacific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPX#NYSE">LPX</a>)</li>
<li>Flooring: Mohawk Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>)</li>
<li>Insulation: Owens Corning Inc., TopBuild Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLD#NYSE">BLD</a>), Installed Building Products Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBP#NYSE">IBP</a>)</li>
</ul>
"Reconstruction demand typically spans several months," Maklari said, citing past hurricanes. 
Cleanup and insurance claims processing often delay actual repairs, with the full rebuilding efforts sometimes extending over 4 to 6 months. 
For example, Owens Corning reported that Hurricane Ian in 2022 resulted in 4 million squares of roofing damage, representing approximately 2.5% of annual roofing shipments.
Goldman Sachs does not foresee a sharp rise in overall building product volumes from Hurricane Milton. Instead, they expect a &#8220;pull-forward&#8221; in demand, meaning that short-term rebuilding activity might be strong, but it won't significantly raise long-term volumes. This could result in choppy revenue comparisons as the industry moves past the initial recovery phase.
Read Now:
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Hurricane Milton To Deliver $2.5B Blow To Florida's Homebuilding Sector, Goldman Sachs Says

Oppenheimer analyst Tyler Batory reiterates Toll Brothers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) with a Outperform and maintains $189 price target.

Reiteration

Oppenheimer Reiterates Outperform on Toll Brothers, Maintains $189 Price Target

Oppenheimer analyst Tyler Batory maintains Toll Brothers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) with a Outperform and raises the price target from $168 to $189.

Oppenheimer Maintains Outperform on Toll Brothers, Raises Price Target to $189

The economy typically has three leading industries that investors can watch closely when trying to figure out the potential future of the stock market. Of course, consumer discretionary is a big part of this mix, as the United States economy is increasingly made up of consumer trends and debt. Following these consumer trends is the mortgage market, which is an extension of the real estate sector.
A third industry just as connected to the rest is the transportation sector, particularly the trucking industry, as it is called upon to deliver the products ordered based on higher consumer activity and demand.
Today, investors have a good idea of what the consumer sector is doing after consumer sentiment readings came in at their weakest since 2021, so now it is time to gauge the housing market.
This is where homebuilding stocks like KB Home (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kbh#NYSE">KBH</a>) become as important as ever, especially as the company just announced its latest set of quarterly earnings figures.
Investors can probably guess that the figures weren&#39;t that great based on the fact that the stock traded lower by 5.3% the day after announcing its quarterly earnings, but the implications for the rest of the stock market are just as important.
<h2>Why the Housing Industry Could Be in Trouble: KB Homes Stock Numbers Follow the Trend</h2>
Investors can gauge the market&#39;s feelings about a particular industry by comparing its average forward P/E valuations against the broader S&amp;P 500 index. In this case, those at Goldman Sachs believe the S&amp;P 500 will trade at about 18.0x forward P/E ratio for the next 12 months, the benchmark for investors to work with now.
On the other hand, the homebuilding industry trades at an average valuation of 11.5x forward P/E ratio. This is a discount of up to 36% from the market expectation, and typically, markets are willing to discount industries when they believe they are fundamentally set up to underperform the rest.
The underperformance may result from the average home price being up to 35% above what it was before the COVID-19 pandemic, pricing out many would-be homebuyers. The situation worsens when investors account for the current mortgage interest rates hovering near 6.5%.
The problem is that, despite recent interest rate cuts from the Federal Reserve (the Fed), most homes are still too expensive compared to the average salary today, so new demand won&#39;t come online for a while. Investors can see this trend reflected in the falling housing starts, home building permit numbers, and the mortgage market index hitting a 1996 low.
KB Home stock is not immune to this environment, so investors will notice a flat order backlog for the past 12 months in the company&#39;s earnings press release. In addition, the home-selling gross margin contracted down to 20.6% from 21.5% a year ago, signaling further weakness.
Speaking to demand and current sentiment for new homes, the overall cancellation rate came in at 15%, above the industry&#39;s 6% to 8% average, showing capitulation from the buyer side. The final blow came in the company&#39;s backlog, which totaled 5,724 this quarter compared to 7,008 one year ago.
This might have caused the stock&#39;s 5.3% down day despite reporting higher earnings per share (EPS) and revenue since these key performance indicators (KPIs) are ultimately more important for the future. However, KB Home is not alone in this trend; peers are suffering, too.
<h2>Wall Street Analysts Predict Downside for the Housing Industry</h2>
Here is what Wall Street analysts considered when deciding to keep their consensus price target for KB Home at $77.3 a share. This implies as much as a 6.6% downside from where the stock trades today despite the sell-off. Inside KB Home&#39;s financials, investors will notice that this shift in backlog inventory caused operating cash flows to crash.
Going from a net inflow of $608.7 million a year ago to $89.9 million this year means EPS is overstated today. Knowing that this is likely becoming an industry-wide issue, price targets on competitors like Toll Brothers Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tol#NYSE">TOL</a>) and D.R. Horton Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dhi#NYSE">DHI</a>) have also started to come down.
For Toll Brothers, Wall Street analysts expect the stock to drop to $145 a share, or 3.5% below today&#39;s price. More than that, it looks like bears are starting to gear up to oppose this company and the negative trends affecting the industry today, as Toll Brothers stock&#39;s short interest increased by 7.9% in the past month alone.
Looking over at D.R. Horton, the story doesn&#39;t improve. Wall Street has landed on a consensus price target of $183.3 a share for this homebuilder, which implies a downside of 2% from today&#39;s price. Bearish traders also picked up the pace on this name by increasing the stock&#39;s short interest by 12.5% over the past month.
<h2>Shift to Defensive Stocks as Housing Sector Shows Weakness</h2>
Based on the evidence, it&#39;s clear the housing market faces significant headwinds, with rising interest rates and inflated home prices limiting demand. Homebuilding stocks like KB Home, Toll Brothers, and D.R. Horton are showing signs of struggle, as seen in their lower backlogs, declining margins, and increasing short interest.
For investors, this suggests it may be wise to avoid the housing sector for now and consider shifting toward more defensive, less cyclical industries that are better positioned to weather the current economic environment.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/kb-home-slips-after-earnings-whats-next-for-homebuilders/">KB Home Slips After Earnings: What&#39;s Next for Homebuilders?</a>&quot; first appeared on MarketBeat.

Earnings

Events

KB Home Slips After Earnings: What's Next for Homebuilders?

Wells Fargo analyst Sam Reid maintains Toll Brothers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) with a Overweight and raises the price target from $163 to $170.

Wells Fargo Maintains Overweight on Toll Brothers, Raises Price Target to $170

Sunrun Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) shares are trading higher Tuesday. The company announced a national partnership with Toll Brothers Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) to provide solar power and storage <a href="https://www.benzinga.com/pressreleases/24/09/g40992556/toll-brothers-announces-national-partnership-with-sunrun-to-provide-solar-power-and-storage-to-tol">to Toll Brothers homes</a>.
What Happened: Toll Brothers and Sunrun inked a <a href="https://www.benzinga.com/pressreleases/24/09/g40992556/toll-brothers-announces-national-partnership-with-sunrun-to-provide-solar-power-and-storage-to-tol">national partnership</a> that will make Sunrun the exclusive provider of solar power as an included feature in all Toll Brothers homes in California. The two companies also have a preferred agreement to provide solar for additional Toll Brothers divisions across the country. 
Sunrun will serve as a &#8220;one-stop shop&#8221; for solar&nbsp;customers in California, which includes sales, design, permitting, installation, customer care and warranty.&nbsp;Sunrun will also provide home buyers a choice of an EnPhase or <a href="http://benzinga.com/quote/tsla">Tesla</a> Powerwall 3 battery storage system. 
&#8220;We are pleased to announce this new agreement with Sunrun as our national solar and storage partner, providing our home buyers with state-of-the-art options for clean, reliable power in their new homes,&#8221; said Seth Ring, executive vice president of Toll Brothers. 
&#8220;Since 2015, Toll Brothers has been committed to incorporating solar into our communities in California and beyond, and we are excited to continue this commitment to innovation and our environment with Sunrun.&#8221;
Under the agreement, Sunrun&#8217;s solar products can be offered to Toll Brothers homebuyers in additional markets as an option or as an included feature financed with the home. In certain markets, where third-party ownership is allowed and available, solar can be added to the home at no cost to the homebuyer.
Tuesday morning, Morgan Stanley analyst Stephen Byrd maintained coverage on Sunrun with an <a href="https://www.benzinga.com/analyst-stock-ratings">Overweight rating</a> and price target of $35.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41000581/fed-catching-up-with-50-point-rate-cut-fund-managers-expect-gains-in-emerging-marke">Fed &#8216;Catching Up&#8217; With 50-Point Rate Cut: Fund Managers Expect Gains In Emerging Markets, Small Caps</a>
RUN Price Action: <a href="http://benzinga.com/quote/run">Sunrun shares</a> were up 3.38% at $19.55 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: courtesy of Tesla.

Movers

Sunrun Stock Is Rising Tuesday: What's Going On?

Sunrun and Toll Brothers have an exclusive agreement for Sunrun to provide solar power as an included feature in all Toll Brothers homes in California, as well as a preferred agreement to provide solar for additional Toll Brothers divisions nationwide.
As part of the agreement, Sunrun will serve as a &quot;one-stop shop&quot; to provide solar as a standard feature in all Toll Brothers communities in California, including sales, design, permitting, installation, customer care, and warranty. Sunrun also provides home buyers with the choice of a third-party battery storage system, including EnPhase or the Tesla Powerwall 3, to integrate with their provided residential solar system.

Contracts

Toll Brothers Enters New National Partnership For Sunrun To Provide Solar Power And Storage To Homes

Toll Brothers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) has outperformed the market over the past 10 years by 6.05% on an annualized basis producing an average annual return of 17.24%. Currently, Toll Brothers has a market capitalization of $15.24 billion. 
Buying $1000 In TOL: If an investor had bought $1000 of TOL stock 10 years ago, it would be worth $4,834.97 today based on a price of $151.00 for TOL at the time of writing.
<h3>Toll Brothers's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727118021_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Toll Brothers 10 Years Ago Would Be Worth Today

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ROCK

Shares of housing-related stocks are trading higher after the Fed policy decision to cut rates by 50 basis points, which could help curb housing unaffordability and increase demand.

B of A Securities analyst Rafe Jadrosich maintains Toll Brothers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) with a Buy and raises the price target from $160 to $165.

B of A Securities Maintains Buy on Toll Brothers, Raises Price Target to $165

Homebuilder stocks are <a href="https://www.benzinga.com/top-stories/24/08/40637013/homebuyers-turn-screws-on-builders-as-mortgage-rates-are-telegraphed-to-fall">on the rise </a>as the Federal Reserve is expected to cut rates later this week, mortgage rates are on the decline and Democratic presidential candidate, Vice President Kamala Harris, proposes a homeownership plan that involves building three million new homes.
The Fed is expected to lower its key interest rate by either <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40878710/investors-bet-on-50-basis-point-rate-cut-wall-street-analysts-urge-caution-this-is-">25 or 50 basis points </a>when it meets on Wednesday after holding back on doing so at its last meeting in July.
Mortgage rates have fallen to their lowest in <a href="https://www.benzinga.com/markets/24/09/40817001/mortgage-rates-fall-to-lowest-level-since-february-2023">more than 18 months</a>, according to the&nbsp;Mortgage Bankers Association&nbsp;(MBA). 
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.29 percent from 6.43 percent, marking several consecutive weeks of declining rates.
If elected president in November, Harris plans to launch a $25,000 credit for first-time homebuyers on buying a new home and an initiative to <a href="https://www.benzinga.com/trading-ideas/previews/24/08/40447261/toll-brothers-q3-earnings-preview-will-kamala-harris-3-million-homes-plan-boost-homebuilde">build three million new homes </a>in four years.
Truist Securities has raised its rating on Builders First Source, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>) from Hold to Buy and its price target from $165 to $220.
Read Also: <a href="https://www.benzinga.com/news/24/08/40507329/toll-brothers-to-rally-around-19-here-are-10-top-analyst-forecasts-for-thursday">Toll Brothers To Rally Around 19%? Here Are 10 Top Analyst Forecasts For Thursday</a>
Analyst Keith Hughes noted reduced mortgage rates and lower lumber prices in the short term and, in the long term, an upswing in multifamily housing construction and Builders&#8217; ability to offer value-added products and digital offerings due to its large size.
Also, many homeowners who locked in rates as low as 3% and 4% over the past two years are holding onto their homes instead of selling, increasing demand for new homes.
&#8220;Given the continued limited inventory, we believe this will continue for several more years with new homes taking an even greater share of the market,&#8221; he wrote in a note on Monday. &#8220;This is a notable catalyst for home builders and their suppliers such as BLDR.&#8221;
Price Action: Homebuilders have seen gains and losses into Monday&#8217;s early trading but have risen significantly over the past week.
<ul>
<li>Builders First Source was up 3.61% to $189.88 on Monday morning, posting a 12% gain since Tuesday.</li>
<li>Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) slipped 0.51% to $149.04 on Monday morning but has gained 6.1% since Tuesday.</li>
<li>M/I Homes, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>) declined 0.1% to $166.32 on Monday but has risen 5.6% since Tuesday.</li>
<li>Green Brick Partners, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRBK#NYSE">GRBK</a>) was up 0.70% to $79.35 on Monday, and has gone up 7% since Tuesday.</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40511410/toll-brothers-analysts-boost-their-forecasts-after-upbeat-earnings">Toll Brothers Analysts Boost Their Forecasts After Upbeat Earnings</a></li>
</ul>
Photo: Shutterstock

Government

Federal Reserve

Builders First Source, Other Homebuilder Stocks Rise With Catalysts Such As Mortgage Rates, The Fed, Kamala Harris Plan

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Toll Brothers, Taylor Morrison stocks rise after Wedbush upgrades to Outperform

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Why The Fed Might Pause Rate Cuts After The October Jobs Report

Housing Market Update - D.R. Horton Is Down 13%

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Toll Brothers (NYSE:<a href="https://investorplace.com/stock-quotes/tol-stock-quote/">TOL</a>) just reported results for the third quarter of 2024.<ul><li>Toll Brothers reported earnings per share of $3.60. This was above the analyst estimate for EPS of $3.31.</li><li>The company reported revenue of $2.73 billion.</li><li>This was better than the analyst estimate for revenue of $2.71 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div>	The post <a href="https://investorplace.com/earning-results/2024/08/tol-stock-earnings-toll-brothers-for-q3-of-2024/">TOL Stock Earnings: Toll Brothers Beats EPS, Beats Revenue for Q3 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

TOL Stock Earnings: Toll Brothers Beats EPS, Beats Revenue for Q3 2024

While consumer spending is considered the big driver of the US economy, we can't ignore the housing sector. A home is usually an individual's singl...

Time to Turn Bullish on These 2 Homebuilding Stocks, Says Wedbush

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Press Releases

Toll Brothers Announces New Luxury Home Community Coming Soon to Colorado Springs, Colorado

Toll Brothers Announces New Luxury Home Community Coming Soon to Holly Springs, North Carolina

Toll Brothers Apartment Living and Equity Residential Celebrate the Grand Opening of Remy, a New Luxury Apartment Community in Frisco, Texas

Toll Brothers New Luxury Home Collection is Coming Soon to Sereno Canyon in Scottsdale, Arizona

Toll Brothers Announces Grand Opening of Wendell Place in Westford, Massachusetts

Toll Brothers Announces Final Opportunities in Van Wyck Mews Community in Fishkill, New York

Toll Brothers Announces Final Opportunity to Purchase in Westshore Community in Cumming, Georgia

Toll Brothers Opens Regency at Rivington 55+ Community in Danbury, Connecticut

Toll Brothers New Luxury Home Community Coming Soon to Chapel Hill, North Carolina

Toll Brothers New Luxury Home Community Coming Soon to Collegeville, Pennsylvania

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