Toll Brothers (TOL) NewsBite - TOL Rises on Sales Growth

Posted: Wednesday, August 12, 2009 10:55 AM EDT

Toll Brothers (NYSE: TOL) opened at $22.22. So far today, the stock has hit a low of $22.15 and a high of $23.17. TOL is now trading at $22.50, up $2.02 (9.86%). Over the last 52 weeks the stock has ranged from a low of $13.55 to a high of $28.00. Shares of TOL are rising today after the company reported its first year-over-year sales increase in four years. TOL sold 792 homes during the third quarter, while signed contracts rose 44 percent cancellations fell to 9 percent. Technical indicators for the stock are bullish and S&P gives TOL a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on TOL the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 19 range. [ABR-Seven Summits Strategic Investments NewsBite]

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