Toll Brothers Inc. (TOL) Bonds Trading 1.8% Lower
An issue of Toll Brothers Inc. (NYSE:TOL) bonds fell 1.8% as a percentage of their face value during trading on Thursday. The high-yield issue of debt has a 5.625% coupon and will mature on January 15, 2024. The bonds in the issue are now trading at $107.69. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.
TOL has been the topic of a number of research reports. Citigroup Inc. increased their target price on shares of Toll Brothers from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, August 24th. TheStreet upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating in a report on Monday, August 15th. RBC Capital Markets reiterated a “sector perform” rating and set a $35.00 target price (up from $32.00) on shares of Toll Brothers in a report on Thursday, August 25th. Credit Suisse Group AG reiterated a “buy” rating on shares of Toll Brothers in a report on Tuesday, June 28th. Finally, Buckingham Research upgraded shares of Toll Brothers from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $35.00 in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.12.
Shares of Toll Brothers Inc. (NYSE:TOL) opened at 29.53 on Friday. Toll Brothers Inc. has a 12 month low of $23.75 and a 12 month high of $38.15. The stock has a market capitalization of $4.84 billion, a P/E ratio of 12.71 and a beta of 1.32. The firm has a 50 day moving average of $29.89 and a 200-day moving average of $28.55.
Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, August 23rd. The company reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. Toll Brothers had a net margin of 8.73% and a return on equity of 9.98%. The business had revenue of $1.27 billion for the quarter. During the same period in the previous year, the firm posted $0.36 earnings per share. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. Analysts forecast that Toll Brothers Inc. will post $2.50 earnings per share for the current year.
In other news, President Richard T. Hartman sold 18,310 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $31.02, for a total transaction of $567,976.20. Following the transaction, the president now directly owns 47,937 shares of the company’s stock, valued at $1,487,005.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 10.51% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TOL. Acrospire Investment Management LLC boosted its position in Toll Brothers by 180.0% in the second quarter. Acrospire Investment Management LLC now owns 4,200 shares of the company’s stock worth $113,000 after buying an additional 2,700 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Toll Brothers by 497.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,764 shares of the company’s stock worth $155,000 after buying an additional 4,800 shares during the last quarter. Creative Planning boosted its position in Toll Brothers by 16.2% in the second quarter. Creative Planning now owns 5,915 shares of the company’s stock worth $159,000 after buying an additional 823 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Toll Brothers by 14.6% in the second quarter. PNC Financial Services Group Inc. now owns 7,746 shares of the company’s stock worth $208,000 after buying an additional 989 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Toll Brothers by 1.0% in the second quarter. Janney Montgomery Scott LLC now owns 8,055 shares of the company’s stock worth $217,000 after buying an additional 76 shares during the last quarter. 77.59% of the stock is currently owned by institutional investors and hedge funds.
Toll Brothers Company Profile
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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