Toll Brothers Inc. (NYSE:TOL) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday, July 24th.
Several other equities analysts have also recently weighed in on TOL. Royal Bank Of Canada raised their target price on shares of Toll Brothers from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, July 13th. Bank of America Corporation reissued a “buy” rating and issued a $43.00 target price (up from $40.00) on shares of Toll Brothers in a research note on Wednesday, May 24th. Mizuho began coverage on shares of Toll Brothers in a research note on Tuesday, May 16th. They issued a “buy” rating and a $44.00 target price for the company. Wedbush set a $37.00 price objective on shares of Toll Brothers and gave the stock a “hold” rating in a research report on Friday, May 19th. Finally, Citigroup Inc. lifted their price objective on shares of Toll Brothers from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. One 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 a consensus rating of “Buy” and a consensus price target of $39.67.
Toll Brothers (NYSE:TOL) traded down 1.24% during mid-day trading on Monday, hitting $38.15. 2,154,876 shares of the company were exchanged. The company has a 50 day moving average of $39.44 and a 200 day moving average of $36.86. The stock has a market cap of $6.24 billion, a P/E ratio of 15.73 and a beta of 1.52. Toll Brothers has a 12-month low of $26.65 and a 12-month high of $41.07.
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In related news, insider Robert I. Toll sold 273,033 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $38.00, for a total value of $10,375,254.00. Following the completion of the transaction, the insider now owns 7,420,317 shares of the company’s stock, valued at $281,972,046. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen A. Novick sold 85,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $39.08, for a total value of $3,321,800.00. Following the completion of the transaction, the director now directly owns 24,417 shares of the company’s stock, valued at approximately $954,216.36. The disclosure for this sale can be found here. In the last three months, insiders sold 403,533 shares of company stock valued at $15,456,475. 8.78% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Toll Brothers by 1.8% in the second quarter. BlackRock Inc. now owns 16,811,380 shares of the construction company’s stock worth $664,216,000 after buying an additional 291,112 shares during the period. Vanguard Group Inc. increased its position in Toll Brothers by 2.6% in the second quarter. Vanguard Group Inc. now owns 12,540,189 shares of the construction company’s stock worth $495,464,000 after buying an additional 323,334 shares during the period. FMR LLC increased its position in Toll Brothers by 13.4% in the second quarter. FMR LLC now owns 9,042,726 shares of the construction company’s stock worth $357,278,000 after buying an additional 1,067,193 shares during the period. State Street Corp increased its position in Toll Brothers by 0.9% in the second quarter. State Street Corp now owns 6,257,962 shares of the construction company’s stock worth $247,263,000 after buying an additional 53,781 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Toll Brothers by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,275,515 shares of the construction company’s stock worth $208,429,000 after buying an additional 13,552 shares during the period. 80.32% of the stock is owned by institutional investors and hedge funds.
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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