Toll Brothers' Stock Jumps on Strong 3Q Performance and Positive Housing Data
Given the strong performance reported by homebuilding peers for quarters ended in May and June, we expected Toll Brothers to report a nice third quarter. The no-moat homebuilder delivered, easing any concerns of a softening luxury home market. Sales grew 24% year over year as total home deliveries increased 6%, with an average selling price 16% higher than the year-ago quarter. Rising home prices outpaced increases in input costs, and Toll Brothers achieved GAAP gross margin expansion during the...Toll Brothers designs, builds, markets, sells, and arranges financing for residential single-family detached, attached home, master planned resort-style golf, and urban communities. The company also designs, builds, markets, and sells urban condominiums through Toll Brothers City Living?. The company operates its own architectural, engineering, mortgage, title, land development, golf course development, and landscaping subsidiaries. The company also operates its own security company, TBI Smart Home Solutions, which provides homeowners with home automation and technology options. In addition, the company operates its own lumber distribution, house component assembly, and manufacturing operations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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