Evercore ISI Begins Coverage on Toll Brothers Inc. (TOL)
Several other brokerages have also commented on TOL. Citigroup Inc. raised their price target on Toll Brothers from $31.00 to $33.00 and gave the company a neutral rating in a research note on Wednesday, August 24th. TheStreet upgraded Toll Brothers from a hold rating to a buy rating in a research note on Monday, August 15th. RBC Capital Markets restated a sector perform rating and set a $35.00 price target (up previously from $32.00) on shares of Toll Brothers in a research note on Thursday, August 25th. Buckingham Research upgraded Toll Brothers from a neutral rating to a buy rating and raised their price target for the company from $34.00 to $35.00 in a research note on Monday, July 18th. Finally, Wells Fargo & Co. started coverage on Toll Brothers in a research note on Wednesday, September 28th. They set an outperform rating on the stock. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $36.41.
Toll Brothers (NYSE:TOL) traded up 2.33% during trading on Monday, reaching $29.01. 538,780 shares of the company’s stock traded hands. The company has a 50 day moving average of $28.54 and a 200 day moving average of $28.40. Toll Brothers has a one year low of $23.75 and a one year high of $38.15. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 12.49 and a beta of 1.22.
Toll Brothers (NYSE:TOL) last released its earnings results on Tuesday, August 23rd. The company reported $0.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.61. Toll Brothers had a return on equity of 9.98% and a net margin of 8.73%. The business had revenue of $1.27 billion for the quarter. During the same quarter in the previous year, the business earned $0.36 EPS. The business’s revenue for the quarter was up 23.5% on a year-over-year basis. Equities research analysts predict that Toll Brothers will post $2.49 EPS for the current year.
In related news, President Richard T. Hartman sold 18,310 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $31.02, for a total transaction of $567,976.20. Following the completion of the sale, the president now directly owns 47,937 shares in the company, valued at $1,487,005.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.51% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in TOL. Vanguard Group Inc. raised its position in Toll Brothers by 0.8% in the second quarter. Vanguard Group Inc. now owns 11,216,134 shares of the company’s stock worth $301,826,000 after buying an additional 91,469 shares during the period. FMR LLC raised its position in Toll Brothers by 29.8% in the second quarter. FMR LLC now owns 7,999,530 shares of the company’s stock worth $215,268,000 after buying an additional 1,834,568 shares during the period. Dimensional Fund Advisors LP raised its position in Toll Brothers by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,019,684 shares of the company’s stock worth $108,166,000 after buying an additional 169,812 shares during the period. Greenhaven Associates Inc. raised its position in Toll Brothers by 26.2% in the third quarter. Greenhaven Associates Inc. now owns 3,351,661 shares of the company’s stock worth $100,081,000 after buying an additional 696,728 shares during the period. Finally, Neuberger Berman Group LLC raised its position in Toll Brothers by 87.6% in the third quarter. Neuberger Berman Group LLC now owns 3,291,501 shares of the company’s stock worth $98,284,000 after buying an additional 1,537,146 shares during the period. 77.60% of the stock is currently owned by institutional investors.
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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