Last quarter was "very, very good" for Toll Brothers, TheStreet's Jim Cramer, manager of the Action Alerts PLUS portfolio, said from the floor of the New York Stock Exchange Monday.
Toll is able to increase sales as U.S. employment continues to improve. Even though the lower class isn't necessarily rolling in the cash, this isn't Toll Brother's key market, Cramer noted.
In addition to its solid residential sales, its urban initiatives are very strong, he reasoned. Overall, the company is doing well and as a result, Cramer said Toll's stock could go higher.
Analysts expect Toll Brothers to earn 63 cents per share on $1.27 billion in revenue for the most recent quarter.
At the time of publication, Cramer's Action Alerts PLUS had no position in any companies mentioned.