Bank of America Increases Toll Brothers (NYSE:TOL) Price Target to $165.00

Toll Brothers (NYSE:TOL) had its target price raised by analysts at Bank of America from $160.00 to $165.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Bank of America‘s price target points to a potential upside of 7.23% from the stock’s previous close.

Several other analysts have also commented on the stock. Citigroup dropped their price target on shares of Toll Brothers from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. The Goldman Sachs Group upgraded shares of Toll Brothers from a “sell” rating to a “neutral” rating and lifted their target price for the company from $112.00 to $124.00 in a research report on Monday, June 17th. Royal Bank of Canada lifted their target price on shares of Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a research report on Thursday, August 22nd. StockNews.com lowered shares of Toll Brothers from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Argus boosted their price target on shares of Toll Brothers from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Toll Brothers has an average rating of “Moderate Buy” and a consensus price target of $145.00.

Toll Brothers Stock Performance

Shares of NYSE TOL traded up $3.74 during midday trading on Thursday, reaching $153.88. The company had a trading volume of 957,120 shares, compared to its average volume of 1,403,786. The business’s 50-day simple moving average is $136.45 and its 200 day simple moving average is $126.09. The stock has a market cap of $15.54 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.23 and a beta of 1.67. Toll Brothers has a 1 year low of $68.08 and a 1 year high of $154.62. The company has a current ratio of 4.52, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38.

Toll Brothers (NYSE:TOL) last posted its quarterly earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.29. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $3.73 earnings per share. On average, analysts forecast that Toll Brothers will post 13.31 earnings per share for the current fiscal year.

Insider Activity at Toll Brothers

In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $147.49, for a total transaction of $12,917,764.16. Following the transaction, the chief executive officer now directly owns 346,382 shares of the company’s stock, valued at approximately $51,087,881.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $147.49, for a total value of $12,917,764.16. Following the completion of the sale, the chief executive officer now owns 346,382 shares in the company, valued at approximately $51,087,881.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Martin P. Connor sold 22,673 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $143.28, for a total transaction of $3,248,587.44. Following the completion of the sale, the chief financial officer now owns 14,721 shares of the company’s stock, valued at approximately $2,109,224.88. The disclosure for this sale can be found here. Insiders own 1.54% of the company’s stock.

Institutional Trading of Toll Brothers

Several hedge funds and other institutional investors have recently made changes to their positions in TOL. Norges Bank acquired a new stake in shares of Toll Brothers in the fourth quarter valued at about $128,982,000. Pacer Advisors Inc. increased its holdings in Toll Brothers by 34.8% during the 2nd quarter. Pacer Advisors Inc. now owns 2,095,673 shares of the construction company’s stock valued at $241,380,000 after acquiring an additional 541,140 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Toll Brothers by 81.0% during the second quarter. Point72 Asset Management L.P. now owns 963,650 shares of the construction company’s stock worth $110,993,000 after buying an additional 431,160 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Toll Brothers by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 11,268,164 shares of the construction company’s stock worth $1,158,255,000 after buying an additional 216,849 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new stake in shares of Toll Brothers during the fourth quarter worth about $18,792,000. Institutional investors and hedge funds own 91.76% of the company’s stock.

Toll Brothers Company Profile

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for a range of detached and attached homes in luxury residential communities in the United States. It designs, builds, markets, and sells condominiums through Toll Brothers City Living. The company also develops a range of single-story living and first-floor primary bedroom suite home designs, as well as communities with recreational amenities, such as golf courses, marinas, pool complexes, country clubs, and fitness and recreation centers; and develops, operates, and rents apartments.