On August 19, Toll Brothers rose 6.95% in regular trading, trading at $151.78/share, with turnover of $26.61 million. The rally was driven by the company's fiscal Q3 results exceeding Wall Street estimates on both top and bottom lines, coupled with an increase in its full-year share repurchase target.

Toll Brothers reported fiscal Q3 EPS of $2.97, beating analyst consensus estimates of $2.91 to $2.93, representing a 2.06% surprise. Revenue came in at $2.659 billion, surpassing expectations of $2.608 to $2.62 billion, though it declined approximately 8% year-over-year from $2.95 billion. CEO Karl K. Mistry characterized the results as solid given a challenging market environment.

Simultaneously, the company raised its full-year stock buyback forecast from $6.5 billion to $7 billion, having already repurchased approximately 1.4 million shares for $206.8 million during the quarter. This signals management confidence in the current valuation. For Q4, the company guided deliveries of 3,450 to 3,550 units at an average selling price of $995,000 to $1,005,000. Citigroup had previously upgraded the stock to Buy with a $176 price target.

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