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Top Stock Picks for Week of September 14, 2020

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Toll Brothers Inc. (TOL - Free Report) , builds single-family detached and attached home communities; master planned luxury residential resort-style golf communities; and urban low, mid, and high-rise communities, principally on the land it develops and improves. Toll Brothers reported solid third-quarter fiscal 2020 results, wherein earnings and revenues topped the respective Zacks Consensus Estimate. Its Q3 orders grew by double digits y/y and average signed contracts per community (sales absorption) increased by double digits as well (the highest third quarter in 15 years). Shares of Toll Brothers have outperformed the industry in the past three months. Estimates for fiscal 2020 grew over the past seven days, reflecting analysts’ optimism on the company’s growth prospects. Given the significant pent up housing demand, Toll Brothers has secured some of the most sought-after urban locations in the country, where land is scarce and approvals are not easy to obtain.  

The Home Depot Inc. (HD - Free Report) , is the world’s largest home improvement specialty retailer. Home Depot has outpaced the industry year to date courtesy of its fundamental strength and strong top line performance in first-quarter 2020, despite the looming impacts of coronavirus outbreak. The top line benefited from strong interconnected presence, which helped adapt to changing customer preference during the pandemic in late March. The company quickly adapted to consumer needs providing contactless curbside pickup and other fulfillment services, adhering to the safety protocols. This helped boost comps performance across stores. Home Depot enjoys strong financial status. Home Depot has a disciplined capital allocation strategy, supported by solid free cash flow generation capability. This allows management to undertake shareholder-friendly moves.

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