Zacks Investment Research upgraded shares of Toll Brothers Inc. (NYSE:TOL) from a hold rating to a buy rating in a report released on Tuesday morning. They currently have $35.00 target price on the stock.
According to Zacks, “Toll Brothers’ revenues are expected to increase in the near term on strong housing demand. Positives like an improving economy, modest wage growth, low unemployment levels, low interest rates, positive consumer confidence and a tight supply situation raise optimism about the sector’s performance. Again, Toll Brothers’ shares have utperformed the Zacks categorized Building-Residential/Commercial industry, in the last six month period. However, a shortage in buildable lots along with rising labor, land and materials costs raise concern.”
A number of other equities research analysts have also issued reports on the stock. RBC Capital Markets reaffirmed a sector perform rating and set a $35.00 price objective (up from $34.00) on shares of Toll Brothers in a report on Wednesday, December 7th. Royal Bank Of Canada increased their price objective on shares of Toll Brothers from $34.00 to $35.00 and gave the company a sector perform rating in a report on Wednesday, December 7th. TheStreet raised shares of Toll Brothers from a hold rating to a buy rating in a report on Monday, December 5th. Barclays PLC began coverage on shares of Toll Brothers in a report on Thursday, January 5th. They set an equal weight rating and a $32.00 price objective for the company. Finally, MKM Partners reaffirmed a buy rating on shares of Toll Brothers in a report on Wednesday, January 11th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Toll Brothers currently has an average rating of Buy and a consensus target price of $34.79.
Shares of Toll Brothers (NYSE:TOL) traded down 0.3169% during midday trading on Tuesday, hitting $31.2307. 990,353 shares of the stock were exchanged. Toll Brothers has a 52-week low of $23.75 and a 52-week high of $33.48. The firm has a market cap of $5.07 billion, a PE ratio of 14.3260 and a beta of 1.28. The firm’s 50-day moving average is $31.48 and its 200 day moving average is $29.85.
Toll Brothers (NYSE:TOL) last released its earnings results on Tuesday, December 6th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by $0.32. Toll Brothers had a return on equity of 9.19% and a net margin of 7.39%. The firm had revenue of $1.86 billion for the quarter. During the same quarter last year, the firm posted $0.80 EPS. The company’s revenue for the quarter was up 29.1% compared to the same quarter last year. On average, analysts forecast that Toll Brothers will post $3.06 earnings per share for the current year.
In other news, insider Joseph R. Sicree sold 5,986 shares of Toll Brothers stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $32.65, for a total transaction of $195,442.90. Following the completion of the sale, the insider now directly owns 20,699 shares in the company, valued at $675,822.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Robert I. Toll sold 5,018 shares of Toll Brothers stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $32.00, for a total value of $160,576.00. Following the sale, the chairman now owns 7,503,320 shares of the company’s stock, valued at $240,106,240. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,004 shares of company stock valued at $908,349. Corporate insiders own 8.78% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Cavalier Investments LLC increased its stake in Toll Brothers by 2.1% in the fourth quarter. Cavalier Investments LLC now owns 9,116 shares of the company’s stock valued at $283,000 after buying an additional 188 shares during the last quarter. Mount Vernon Associates Inc. MD increased its stake in Toll Brothers by 0.9% in the third quarter. Mount Vernon Associates Inc. MD now owns 33,620 shares of the company’s stock valued at $1,004,000 after buying an additional 300 shares during the last quarter. River Wealth Advisors LLC increased its stake in Toll Brothers by 1.6% in the third quarter. River Wealth Advisors LLC now owns 18,945 shares of the company’s stock valued at $566,000 after buying an additional 300 shares during the last quarter. Toronto Dominion Bank increased its stake in Toll Brothers by 17.0% in the third quarter. Toronto Dominion Bank now owns 3,382 shares of the company’s stock valued at $101,000 after buying an additional 491 shares during the last quarter. Finally, Commonwealth Equity Services Inc increased its stake in Toll Brothers by 2.4% in the third quarter. Commonwealth Equity Services Inc now owns 25,952 shares of the company’s stock valued at $775,000 after buying an additional 612 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.
About Toll Brothers
Toll Brothers, Inc designs, builds, markets and arranges financing for detached and attached homes in luxury residential communities. The Company caters to move-up, empty nester, active-adult, age-qualified and second-home buyers in the United States (Traditional Home Building Product). The Company operates in two segments: traditional home building and urban infill.
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