Barclays PLC Lowers Toll Brothers Inc. (TOL) to Underweight
Toll Brothers Inc. (NYSE:TOL) was downgraded by analysts at Barclays PLC from an “equal weight” rating to an “underweight” rating in a research note issued on Tuesday, July 11th, Marketbeat reports. They presently have a $37.00 price objective on the construction company’s stock. Barclays PLC’s price target suggests a potential downside of 7.13% from the company’s previous close.
Several other brokerages also recently issued reports on TOL. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $37.00 price objective on shares of Toll Brothers in a research report on Monday, April 10th. Credit Suisse Group started coverage on Toll Brothers in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $39.00 target price for the company. Royal Bank Of Canada upgraded Toll Brothers from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $37.00 to $43.00 in a research report on Tuesday, April 11th. BidaskClub upgraded Toll Brothers from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Finally, Zelman & Associates upgraded Toll Brothers from a “hold” rating to a “buy” rating in a research report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Toll Brothers presently has an average rating of “Buy” and a consensus target price of $39.67.
Toll Brothers (NYSE:TOL) traded up 0.28% during mid-day trading on Tuesday, reaching $39.84. The company’s stock had a trading volume of 1,363,436 shares. Toll Brothers has a 12-month low of $26.65 and a 12-month high of $41.07. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of 16.43 and a beta of 1.52. The firm’s 50 day moving average price is $39.35 and its 200 day moving average price is $36.26.
Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, May 23rd. The construction company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.10. Toll Brothers had a return on equity of 9.71% and a net margin of 7.67%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company earned $0.51 earnings per share. Toll Brothers’s quarterly revenue was up 22.2% on a year-over-year basis. On average, equities analysts predict that Toll Brothers will post $3.15 earnings per share for the current year.
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In related news, insider Robert I. Toll sold 273,033 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $38.00, for a total value of $10,375,254.00. Following the completion of the sale, the insider now directly owns 7,420,317 shares in the company, valued at $281,972,046. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas C. Jr. Yearley sold 4,155 shares of the company’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $39.92, for a total transaction of $165,867.60. Following the completion of the sale, the chief executive officer now owns 176,372 shares of the company’s stock, valued at $7,040,770.24. The disclosure for this sale can be found here. Insiders sold 405,500 shares of company stock worth $15,531,221 over the last ninety days. 8.78% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its stake in Toll Brothers by 1.8% in 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 during the period. Charter Trust Co. boosted its stake in Toll Brothers by 1.4% in the first quarter. Charter Trust Co. now owns 7,324 shares of the construction company’s stock worth $264,000 after buying an additional 100 shares during the period. Cutter & CO Brokerage Inc. boosted its stake in Toll Brothers by 1.7% in the first quarter. Cutter & CO Brokerage Inc. now owns 7,384 shares of the construction company’s stock worth $267,000 after buying an additional 120 shares during the period. World Asset Management Inc boosted its stake in Toll Brothers by 1.8% in the second quarter. World Asset Management Inc now owns 10,065 shares of the construction company’s stock worth $398,000 after buying an additional 181 shares during the period. Finally, Mason Street Advisors LLC boosted its stake in Toll Brothers by 0.3% in the first quarter. Mason Street Advisors LLC now owns 69,843 shares of the construction company’s stock worth $2,522,000 after buying an additional 192 shares during the period. Institutional investors own 80.44% of the company’s stock.
Toll Brothers Company Profile
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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