Toll Brothers Inc. (NYSE:TOL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $48.00 price target on the construction company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.16% from the company’s previous close.
According to Zacks, “Toll Brothers’ shares have outperformed the industry in the last one year. Strong housing demand and lack of competition in the luxury new home market is expected to drive Toll Brothers’ revenues. Also, the 2017 outlook for the U.S. homebuilding industry is quite compelling given the affordable interest rates and tight inventory indicating pent-up demand. However, we are concerned about the escalating building material and labor costs that are proving to be a drag on margins.”
Several other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $40.00 target price on shares of Toll Brothers in a report on Sunday. KeyCorp reaffirmed a “hold” rating on shares of Toll Brothers in a report on Tuesday, September 26th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $45.00 target price on shares of Toll Brothers in a report on Monday, September 25th. J P Morgan Chase & Co lowered shares of Toll Brothers from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $41.00 to $45.00 in a report on Thursday, September 14th. Finally, BidaskClub lowered shares of Toll Brothers from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $41.00.
Shares of Toll Brothers (NYSE:TOL) opened at 43.18 on Tuesday. The firm’s 50-day moving average is $40.03 and its 200-day moving average is $38.49. The stock has a market capitalization of $6.83 billion, a PE ratio of 16.09 and a beta of 1.50. Toll Brothers has a one year low of $26.65 and a one year high of $43.20.
Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, August 22nd. The construction company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.19. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.51 billion. Toll Brothers had a net margin of 8.12% and a return on equity of 10.44%. The business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. On average, analysts expect that Toll Brothers will post $3.19 earnings per share for the current fiscal year.
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In other news, CFO Martin P. Connor sold 2,000 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $41.45, for a total transaction of $82,900.00. Following the completion of the sale, the chief financial officer now owns 34,836 shares of the company’s stock, valued at $1,443,952.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard J. Braemer sold 7,500 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $37.88, for a total transaction of $284,100.00. Following the sale, the director now directly owns 110,373 shares of the company’s stock, valued at approximately $4,180,929.24. The disclosure for this sale can be found here. Insiders have sold 22,400 shares of company stock valued at $882,613 in the last ninety days. Insiders own 8.78% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in shares of Toll Brothers by 1.8% during the first quarter. US Bancorp DE now owns 2,791 shares of the construction company’s stock worth $101,000 after buying an additional 49 shares in the last quarter. NewSquare Capital LLC purchased a new stake in shares of Toll Brothers during the second quarter worth $101,000. Advisors Asset Management Inc. grew its holdings in shares of Toll Brothers by 61.6% during the second quarter. Advisors Asset Management Inc. now owns 2,667 shares of the construction company’s stock worth $105,000 after buying an additional 1,017 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Toll Brothers by 369.1% during the second quarter. IFP Advisors Inc now owns 2,735 shares of the construction company’s stock worth $108,000 after buying an additional 2,152 shares in the last quarter. Finally, Aviance Capital Management LLC purchased a new stake in shares of Toll Brothers during the second quarter worth $151,000. 80.69% of the stock is owned by institutional investors and hedge funds.
About Toll Brothers
Toll Brothers, Inc is engaged in designing, building, marketing, selling and arranging financing for detached and attached homes in luxury residential communities. The Company operates through two segments: Traditional Home Building and Toll Brothers City Living (City Living). Within the Traditional Home Building segment, it operates in five geographic segments in the United States: the North, consisting of Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York; the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania and Virginia; the South, consisting of Florida, North Carolina and Texas; the West, consisting of Arizona, Colorado, Nevada and Washington, and California.
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