Toll Brothers (NYSE:TOL) Price Target Cut to $148.00 by Analysts at Royal Bank Of Canada

Toll Brothers (NYSE:TOL) had its price target cut by equities research analysts at Royal Bank Of Canada from $158.00 to $148.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 10.59% from the stock’s current price.

A number of other analysts have also recently issued reports on TOL. UBS Group lifted their price objective on Toll Brothers from $187.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Truist Financial lifted their target price on shares of Toll Brothers from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Morgan Stanley began coverage on Toll Brothers in a report on Thursday, October 1st. They set an “overweight” rating and a $159.00 price target for the company. Weiss Ratings upgraded shares of Toll Brothers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 29th. Finally, Barclays lowered their price target on shares of Toll Brothers from $122.00 to $118.00 and set an “underweight” rating on the stock in a report on Tuesday, October 6th. Fourteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Toll Brothers has an average rating of “Moderate Buy” and an average price target of $167.40.

Toll Brothers Price Performance

Shares of TOL stock traded up $3.41 during midday trading on Thursday, reaching $133.82. 261,003 shares of the company were exchanged, compared to its average volume of 1,123,645. The company’s 50 day moving average price is $140.21 and its two-hundred day moving average price is $143.04. The company has a market cap of $12.33 billion, a P/E ratio of 10.73, a PEG ratio of 1.07 and a beta of 1.31. Toll Brothers has a 12 month low of $123.14 and a 12 month high of $168.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.55 and a current ratio of 4.53.

Toll Brothers (NYSE:TOL) last posted its quarterly earnings data on Tuesday, August 18th. The construction company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.04. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Toll Brothers had a net margin of 11.14% and a return on equity of 14.21%. The business’s revenue was down 9.7% on a year-over-year basis. During the same period last year, the firm posted $3.73 earnings per share. On average, sell-side analysts expect that Toll Brothers will post 12.80 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stephen East sold 800 shares of the company’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $135.99, for a total value of $108,792.00. Following the completion of the sale, the director owned 12,642 shares in the company, valued at approximately $1,719,185.58. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Toll Brothers

Institutional investors have recently modified their holdings of the stock. Mariner Investment Group LLC acquired a new position in Toll Brothers during the 2nd quarter worth approximately $1,648,000. Meeder Advisory Services Inc. bought a new position in shares of Toll Brothers during the 2nd quarter worth approximately $862,000. Ceredex Value Advisors LLC bought a new position in shares of Toll Brothers during the 2nd quarter worth approximately $37,012,000. Amundi raised its holdings in shares of Toll Brothers by 138.4% in the second quarter. Amundi now owns 174,655 shares of the construction company’s stock valued at $28,774,000 after purchasing an additional 101,405 shares during the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Toll Brothers in the second quarter valued at approximately $44,696,000. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Toll Brothers Company Profile

Toll Brothers, Inc is a U.S. luxury homebuilder that designs, constructs, markets and sells single-family homes, townhomes and condominiums. The company serves move-up, luxury, active-adult and urban buyers, offering homes in a range of architectural styles and price points.

Founded in 1967 by brothers Robert I. Toll and Bruce E. Toll, the company develops residential communities on land it acquires and prepares for construction. Its operations also include related services such as mortgage financing, title and settlement services, and property development through its Toll Brothers Apartment Living and Toll Brothers City Living businesses.

Toll Brothers operates across numerous metropolitan and suburban markets in the United States, with a presence in regions including the Northeast, Mid-Atlantic, Southeast, Texas, the Midwest, Arizona and the West Coast.