AllAnalyst Report
logoMorningstarJune 21, 2021

Toll Brothers, Inc.: Toll Brothers' Shift to a Lighter Land Strategy Should Result in Stronger Returns on Capital

Symbols
TOL
Sector(s)
Consumer Cyclical
Rating
Current Price
$57.65
Fair Value
Economic Moat
Stewardship
Summary

Toll Brothers is the leading luxury homebuilder in the United States with an average sale price well above public competitors'. The company operates in 50 markets across 24 states and caters to move-up, active-adult, and second-home buyers. Traditional homebuilding operations represent most of company’s revenue. Toll Brothers also builds luxury for-sale and for-rent properties in urban centers, primarily on the East Coast. It has its headquarters in Horsham, Pennsylvania.

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Analyst Profile

Brian Bernard

Sector Director
Brian Colello, CPA, is director of technology, media, and telecom equity research for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. In addition to leading Morningstar’s technology, media, and telecom sector team, he covers semiconductor and hardware companies. Colello was a senior equity analyst before assuming his current role in 2015.Before joining Morningstar in 2008, he worked in public accounting for KPMG and served as a manager in corporate finance for BMG Music, a subsidiary of Bertelsmann AG.Colello holds a bachelor’s degree in accounting from Bucknell University and a master’s degree in business administration from Wake Forest. He is also a Certified Public Accountant.