Zacks Investment Research upgraded shares of Toll Brothers Inc. (NYSE:TOL) from a hold rating to a buy rating in a report published on Tuesday. The firm currently has $48.00 target price on the construction company’s stock.
According to Zacks, “Toll Brothers’ shares have outperformed the industry in the last one year. Strong housing demand and lack of competition in the luxury new home market is expected to drive Toll Brothers’ revenues. Also, the 2017 outlook for the U.S. homebuilding industry is quite compelling given the affordable interest rates and tight inventory indicating pent-up demand. However, we are concerned about the escalating building material and labor costs that are proving to be a drag on margins.”
A number of other research firms have also recently issued reports on TOL. Keefe, Bruyette & Woods reiterated a hold rating and issued a $40.00 target price on shares of Toll Brothers in a research note on Sunday. Mizuho reiterated a buy rating on shares of Toll Brothers in a research note on Tuesday, July 11th. Barclays PLC cut Toll Brothers from an equal weight rating to an underweight rating and set a $37.00 target price on the stock. in a research note on Tuesday, July 11th. BidaskClub upgraded Toll Brothers from a buy rating to a strong-buy rating in a research note on Wednesday, July 12th. Finally, KeyCorp reiterated a hold rating on shares of Toll Brothers in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $41.00.
Toll Brothers (NYSE:TOL) opened at 42.954 on Tuesday. Toll Brothers has a 12 month low of $26.65 and a 12 month high of $43.02. The stock has a market cap of $6.80 billion, a P/E ratio of 16.010 and a beta of 1.50. The firm’s 50-day moving average is $39.86 and its 200-day moving average is $38.45.
Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, August 22nd. The construction company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.19. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Toll Brothers had a return on equity of 10.44% and a net margin of 8.12%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. On average, equities analysts forecast that Toll Brothers will post $3.19 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, October 12th. Toll Brothers’s dividend payout ratio is currently 11.90%.
In related news, Director Carl B. Marbach sold 12,900 shares of Toll Brothers stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $39.97, for a total transaction of $515,613.00. Following the sale, the director now directly owns 114,149 shares in the company, valued at $4,562,535.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Martin P. Connor sold 2,000 shares of Toll Brothers stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $41.45, for a total transaction of $82,900.00. Following the sale, the chief financial officer now owns 34,836 shares in the company, valued at $1,443,952.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,400 shares of company stock worth $882,613. Company insiders own 8.78% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Toll Brothers by 1.8% during the second quarter. BlackRock Inc. now owns 16,811,380 shares of the construction company’s stock valued at $664,216,000 after purchasing an additional 291,112 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Toll Brothers by 2.6% during the second quarter. Vanguard Group Inc. now owns 12,540,189 shares of the construction company’s stock valued at $495,464,000 after purchasing an additional 323,334 shares in the last quarter. FMR LLC raised its stake in shares of Toll Brothers by 13.4% during the second quarter. FMR LLC now owns 9,042,726 shares of the construction company’s stock valued at $357,278,000 after purchasing an additional 1,067,193 shares in the last quarter. State Street Corp raised its stake in shares of Toll Brothers by 0.9% during the second quarter. State Street Corp now owns 6,257,962 shares of the construction company’s stock valued at $247,263,000 after purchasing an additional 53,781 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Toll Brothers by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,275,515 shares of the construction company’s stock valued at $208,429,000 after purchasing an additional 13,552 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.
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.
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