Toll Brothers (TOL) Rating Lowered to Neutral at Bank of America

Toll Brothers (NYSE:TOL) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a $38.00 price objective on the construction company’s stock. Bank of America’s price objective would indicate a potential upside of 26.58% from the company’s previous close.

A number of other research firms have also recently weighed in on TOL. ValuEngine cut Toll Brothers from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 7th. Raymond James restated a “buy” rating and issued a $44.00 price target (down previously from $50.00) on shares of Toll Brothers in a report on Thursday, August 23rd. Barclays restated a “sell” rating and issued a $37.00 price target (down previously from $39.00) on shares of Toll Brothers in a report on Friday, September 14th. Citigroup lowered their target price on Toll Brothers from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, June 20th. Finally, Mizuho set a $46.00 target price on Toll Brothers and gave the company a “buy” rating in a report on Friday, August 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $48.95.

TOL opened at $30.02 on Thursday. The company has a market capitalization of $4.60 billion, a P/E ratio of 9.47, a PEG ratio of 0.43 and a beta of 1.34. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.88 and a current ratio of 6.98. Toll Brothers has a 1-year low of $29.82 and a 1-year high of $52.73.

Toll Brothers (NYSE:TOL) last released its quarterly earnings results on Tuesday, August 21st. The construction company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.23. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Toll Brothers had a return on equity of 13.49% and a net margin of 9.37%. The company’s revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 EPS. As a group, equities research analysts forecast that Toll Brothers will post 4.46 earnings per share for the current fiscal year.

In other Toll Brothers news, Director Edward G. Boehne sold 17,000 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $37.64, for a total transaction of $639,880.00. Following the sale, the director now owns 99,598 shares in the company, valued at approximately $3,748,868.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.78% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Korea Investment CORP lifted its stake in shares of Toll Brothers by 12.2% during the 2nd quarter. Korea Investment CORP now owns 88,525 shares of the construction company’s stock worth $3,275,000 after purchasing an additional 9,600 shares during the period. Laurion Capital Management LP lifted its stake in shares of Toll Brothers by 63.6% during the 2nd quarter. Laurion Capital Management LP now owns 74,498 shares of the construction company’s stock worth $2,756,000 after purchasing an additional 28,969 shares during the period. Andra AP fonden purchased a new position in shares of Toll Brothers during the 2nd quarter worth $7,971,000. GAM Holding AG lifted its stake in shares of Toll Brothers by 43.2% during the 2nd quarter. GAM Holding AG now owns 28,753 shares of the construction company’s stock worth $1,048,000 after purchasing an additional 8,677 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Toll Brothers by 3.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 747,156 shares of the construction company’s stock worth $27,638,000 after purchasing an additional 23,436 shares during the period. 81.88% of the stock is currently owned by institutional investors.

About Toll Brothers

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, and arranges finance for detached and attached homes in luxury residential communities in the United States. The company operates through two segments, Traditional Home Building and City Living. It also builds and sells homes in urban infill markets through Toll Brothers City Living.

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Analyst Recommendations for Toll Brothers (NYSE:TOL)

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