J P Morgan Chase & Co Lowers Toll Brothers Inc. (TOL) to Neutral

J P Morgan Chase & Co cut shares of Toll Brothers Inc. (NYSE:TOL) from an overweight rating to a neutral rating in a report published on Thursday morning, Marketbeat.com reports. They currently have $45.00 price objective on the construction company’s stock, up from their previous price objective of $41.00.

TOL has been the topic of several other research reports. Credit Suisse Group assumed coverage on shares of Toll Brothers in a research report on Thursday, June 22nd. They set a neutral rating and a $39.00 price objective on the stock. BidaskClub lowered shares of Toll Brothers from a buy rating to a hold rating in a report on Sunday, July 30th. Keefe, Bruyette & Woods reissued a hold rating and issued a $40.00 target price on shares of Toll Brothers in a report on Thursday, August 24th. Zacks Investment Research raised shares of Toll Brothers from a hold rating to a buy rating and set a $44.00 target price for the company in a report on Tuesday, August 8th. Finally, Zelman & Associates raised shares of Toll Brothers from a hold rating to a buy rating in a report on Wednesday, May 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $40.67.

Toll Brothers (NYSE TOL) opened at 39.41 on Thursday. Toll Brothers has a 1-year low of $26.65 and a 1-year high of $41.07. The firm has a 50-day moving average of $38.87 and a 200-day moving average of $37.76. The stock has a market cap of $6.24 billion, a PE ratio of 14.69 and a beta of 1.49.

Toll Brothers (NYSE:TOL) last released its quarterly earnings data on Tuesday, August 22nd. The construction company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.19. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Toll Brothers had a net margin of 8.12% and a return on equity of 10.44%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. Analysts expect that Toll Brothers will post $3.20 EPS for the current fiscal year.

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In other news, CFO Martin P. Connor sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $39.45, for a total transaction of $78,900.00. Following the completion of the sale, the chief financial officer now directly owns 34,836 shares of the company’s stock, valued at $1,374,280.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard J. Braemer sold 7,500 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $37.88, for a total transaction of $284,100.00. Following the sale, the director now directly owns 110,373 shares of the company’s stock, valued at $4,180,929.24. The disclosure for this sale can be found here. Insiders have sold 34,400 shares of company stock valued at $1,357,884 over the last ninety days. 8.78% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of TOL. US Bancorp DE boosted its stake in shares of Toll Brothers by 1.8% during the first quarter. US Bancorp DE now owns 2,791 shares of the construction company’s stock valued at $101,000 after purchasing an additional 49 shares during the period. NewSquare Capital LLC purchased a new stake in shares of Toll Brothers during the second quarter valued at $101,000. Advisors Asset Management Inc. boosted its stake in shares of Toll Brothers by 61.6% during the second quarter. Advisors Asset Management Inc. now owns 2,667 shares of the construction company’s stock valued at $105,000 after purchasing an additional 1,017 shares during the period. IFP Advisors Inc boosted its stake in shares of Toll Brothers by 369.1% during the second quarter. IFP Advisors Inc now owns 2,735 shares of the construction company’s stock valued at $108,000 after purchasing an additional 2,152 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Toll Brothers by 10.1% during the first quarter. Toronto Dominion Bank now owns 3,704 shares of the construction company’s stock valued at $134,000 after purchasing an additional 339 shares during the period. 80.70% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Toll Brothers (NYSE:TOL)

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