BidaskClub upgraded shares of Toll Brothers Inc. (NYSE:TOL) from a buy rating to a strong-buy rating in a report issued on Wednesday.
A number of other research firms have also recently issued reports on TOL. Barclays PLC cut Toll Brothers from an equal weight rating to an underweight rating and set a $37.00 target price for the company. in a research note on Tuesday, July 11th. Mizuho reissued a buy rating on shares of Toll Brothers in a research note on Tuesday, July 11th. Bank of America Corporation increased their target price on Toll Brothers from $43.00 to $46.00 and gave the stock a buy rating in a research note on Wednesday, June 28th. Credit Suisse Group assumed coverage on Toll Brothers in a research note on Thursday, June 22nd. They set a neutral rating and a $39.00 target price for the company. Finally, Royal Bank Of Canada reissued a buy rating and set a $43.00 target price on shares of Toll Brothers in a research note on Monday, May 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Toll Brothers has an average rating of Buy and an average target price of $39.33.
Shares of Toll Brothers (NYSE TOL) opened at 39.87 on Wednesday. The firm has a market capitalization of $6.52 billion, a PE ratio of 16.44 and a beta of 1.52. The company’s 50 day moving average is $38.11 and its 200 day moving average is $34.93. Toll Brothers has a 12-month low of $26.65 and a 12-month high of $41.07.
Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, May 23rd. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. Toll Brothers had a return on equity of 9.71% and a net margin of 7.67%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the business earned $0.51 EPS. Toll Brothers’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, analysts forecast that Toll Brothers will post $3.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.80%. The ex-dividend date is Wednesday, July 12th. Toll Brothers’s dividend payout ratio is 13.17%.
In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 10,000 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $38.50, for a total transaction of $385,000.00. Following the transaction, the chief executive officer now owns 186,372 shares in the company, valued at approximately $7,175,322. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert I. Toll sold 1,967 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $38.00, for a total value of $74,746.00. Following the transaction, the insider now owns 7,420,317 shares in the company, valued at approximately $281,972,046. The disclosure for this sale can be found here. Insiders have sold a total of 405,500 shares of company stock valued at $15,531,221 in the last ninety days. Insiders own 8.78% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Toll Brothers by 7,882.3% in the first quarter. BlackRock Inc. now owns 16,520,268 shares of the construction company’s stock valued at $596,546,000 after buying an additional 16,313,307 shares during the last quarter. FMR LLC boosted its position in Toll Brothers by 34.9% in the first quarter. FMR LLC now owns 7,975,533 shares of the construction company’s stock valued at $287,997,000 after buying an additional 2,065,250 shares during the last quarter. Capital Growth Management LP boosted its position in Toll Brothers by 110.7% in the first quarter. Capital Growth Management LP now owns 2,950,000 shares of the construction company’s stock valued at $106,524,000 after buying an additional 1,550,000 shares during the last quarter. Norges Bank purchased a new position in Toll Brothers during the fourth quarter valued at $47,099,000. Finally, Systematic Financial Management LP purchased a new position in Toll Brothers during the first quarter valued at $46,928,000. Hedge funds and other institutional investors own 80.22% of the company’s stock.
About Toll Brothers
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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