NEW YORK (TheStreet) -- Shares of Toll Brothers Inc. (TOL) are up 3.25% to $36.80 in pre-market trade after the home builder reported fiscal second-quarter profit that more than doubled, as the company continued to benefit from higher home prices and more deliveries, the Wall Street Journal reports.
The company reported a profit of $65.2 million, or 35 cents per share, up from $24.7 million, or 14 cents per share, last year.
Toll Brothers pretax income was $93.5 million, an increase from $41 million a year ago.
Revenue jumped 67% to $860.4 million.
Analysts polled by Thomson Reuters expected per-share earnings of 26 cents and revenue of $828 million.
TheStreet Ratings team rates TOLL BROTHERS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate TOLL BROTHERS INC (TOL) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, growth in earnings per share, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."