Toll Brothers (TOL) NewsBite - Toll Brothers Up on Construction Spending Data

Posted on Tuesday, July 01, 2008 12:24 PM

Toll Brothers Inc. (TOL) opened at 18.40. So far today, the stock has hit a low of 18.40 and a high of 19.29. TOL is now trading at 18.95, up 0.22 (1.2%). The stock hit its 52 week high of 26.94 in July and set its 52 week low of 15.49 in January. TOL has been steady for the past year. Shares of housing stocks have been trading higher after the Commerce Department reported that construction spending dropped only 0.4 percent in May on strength in spending on hotels and office buildings. Analysts predicted construction activity to fell 0.5 percent last month. Technical indicators for the stock are bearish and steady while S&P gives TOL a positive 4 STARS (out of 5) buy rating. If you’re looking for a hedged play on this stock, consider an August bull-put credit spread below the $15 range. TOL stock could fall up to 20.8% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]