Toll Bros. (TOL) Q2 Solid but Not Much Better Than Peers
Wells Fargo today maintained a Market Perform rating on Toll Bros. (NYSE: TOL) with a price target of $36-$37.50 (from $33.50-$35.25). Toll Bros. brother recently reported Q2 results that topped estimates with better than expected gross margin.
Commenting, analyst Adam Rudiger said, "Due to a longer land supply, we believe TOL is better positioned than some other public builders for longer-term gross margin expansion, but, we believe shares are fairly valued currently, trading at 23x our 2014E EPS versus peers' average 15x."
"While results were generally solid in our view, yr/yr trends were not significantly differentiated relative to those reported by other builders," he added.
For an analyst ratings summary and ratings history on Toll Bros. (NYSE: TOL) click here. For more ratings news on Toll Bros. click here.
Shares of Toll Bros. closed at $37.07 yesterday, with a 52 week range of $23.78-$39.25.
Commenting, analyst Adam Rudiger said, "Due to a longer land supply, we believe TOL is better positioned than some other public builders for longer-term gross margin expansion, but, we believe shares are fairly valued currently, trading at 23x our 2014E EPS versus peers' average 15x."
"While results were generally solid in our view, yr/yr trends were not significantly differentiated relative to those reported by other builders," he added.
For an analyst ratings summary and ratings history on Toll Bros. (NYSE: TOL) click here. For more ratings news on Toll Bros. click here.
Shares of Toll Bros. closed at $37.07 yesterday, with a 52 week range of $23.78-$39.25.