Wedbush Raises Toll Brothers (TOL) Price Target to $47.00

Toll Brothers (NYSE:TOL) had its price target boosted by Wedbush from $45.00 to $47.00 in a research note published on Friday, Marketbeat Ratings reports. The brokerage currently has a neutral rating on the construction company’s stock.

Several other research analysts have also recently commented on the company. Argus set a $55.00 price target on Toll Brothers and gave the company a buy rating in a research report on Wednesday, December 20th. Royal Bank of Canada increased their price target on Toll Brothers to $57.00 and gave the company an outperform rating in a research report on Monday, December 18th. Mizuho set a $52.00 price target on Toll Brothers and gave the company a buy rating in a research report on Thursday, December 7th. Raymond James Financial reissued an outperform rating and set a $52.00 price target (up from $43.00) on shares of Toll Brothers in a research report on Thursday, December 7th. Finally, Barclays set a $40.00 price target on Toll Brothers and gave the company a sell rating in a research report on Tuesday, December 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Toll Brothers currently has an average rating of Hold and an average price target of $48.63.

Toll Brothers (TOL) opened at $48.02 on Friday. The company has a current ratio of 6.61, a quick ratio of 0.97 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $7,680.00, a PE ratio of 15.10, a PEG ratio of 1.25 and a beta of 1.56. Toll Brothers has a 52-week low of $30.44 and a 52-week high of $51.08.

Toll Brothers (NYSE:TOL) last posted its quarterly earnings data on Tuesday, December 5th. The construction company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.02). Toll Brothers had a return on equity of 12.00% and a net margin of 9.21%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the company earned $0.67 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. research analysts anticipate that Toll Brothers will post 3.61 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.67%. Toll Brothers’s payout ratio is 10.06%.

In other news, President Richard T. Hartman sold 8,537 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $46.00, for a total value of $392,702.00. Following the completion of the sale, the president now directly owns 27,233 shares of the company’s stock, valued at $1,252,718. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Richard T. Hartman sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $47.00, for a total value of $940,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,787 shares of company stock valued at $3,172,877. Insiders own 8.78% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TOL. BlackRock Inc. increased 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 worth $664,216,000 after purchasing an additional 291,112 shares during the period. Vanguard Group Inc. increased 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 worth $495,464,000 after purchasing an additional 323,334 shares during the period. FMR LLC increased 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 worth $357,278,000 after purchasing an additional 1,067,193 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Toll Brothers by 134.8% during the third quarter. JPMorgan Chase & Co. now owns 7,198,069 shares of the construction company’s stock worth $294,978,000 after purchasing an additional 4,132,120 shares during the period. Finally, State Street Corp increased 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 worth $247,263,000 after purchasing an additional 53,781 shares during the period. 88.08% of the stock is owned by institutional investors.

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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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