Wedbush Reaffirms Outperform Rating for Toll Brothers (NYSE:TOL)

Toll Brothers (NYSE:TOL)‘s stock had its “outperform” rating reiterated by Wedbush in a research note issued on Wednesday,RTT News reports. They presently have a $175.00 target price on the construction company’s stock. Wedbush’s price target would suggest a potential upside of 26.46% from the stock’s previous close.

Several other brokerages have also issued reports on TOL. Wells Fargo & Company raised their target price on Toll Brothers from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Oppenheimer raised their price objective on Toll Brothers from $168.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada upped their target price on Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Barclays raised their price target on shares of Toll Brothers from $116.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Finally, Keefe, Bruyette & Woods lowered shares of Toll Brothers from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $168.00 to $164.00 in a research note on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Toll Brothers has a consensus rating of “Moderate Buy” and a consensus price target of $151.07.

Toll Brothers Stock Performance

NYSE:TOL opened at $138.38 on Wednesday. The stock’s 50-day moving average is $153.40 and its 200-day moving average is $139.08. Toll Brothers has a 1-year low of $91.92 and a 1-year high of $169.52. The company has a current ratio of 4.92, a quick ratio of 0.57 and a debt-to-equity ratio of 0.37. The stock has a market cap of $13.97 billion, a P/E ratio of 9.21, a price-to-earnings-growth ratio of 1.07 and a beta of 1.69.

Toll Brothers (NYSE:TOL) last posted its earnings results on Monday, December 9th. The construction company reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $4.34 by $0.29. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.17 billion. Toll Brothers had a net margin of 14.48% and a return on equity of 19.64%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.11 EPS. Equities research analysts anticipate that Toll Brothers will post 14.55 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Martin P. Connor sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $155.44, for a total value of $777,200.00. Following the transaction, the chief financial officer now owns 9,721 shares of the company’s stock, valued at approximately $1,511,032.24. This trade represents a 33.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Mclean sold 1,000 shares of Toll Brothers stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $151.10, for a total value of $151,100.00. Following the transaction, the director now owns 9,944 shares of the company’s stock, valued at $1,502,538.40. This trade represents a 9.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,000 shares of company stock worth $16,435,800 in the last ninety days. Corporate insiders own 1.54% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TOL. State Street Corp raised its position in Toll Brothers by 1.2% in the 3rd quarter. State Street Corp now owns 3,662,387 shares of the construction company’s stock valued at $565,802,000 after buying an additional 42,871 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Toll Brothers by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,157,908 shares of the construction company’s stock worth $333,444,000 after acquiring an additional 84,652 shares in the last quarter. FMR LLC raised its holdings in shares of Toll Brothers by 97.7% in the third quarter. FMR LLC now owns 2,118,459 shares of the construction company’s stock valued at $327,281,000 after purchasing an additional 1,046,758 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Toll Brothers by 34.8% during the second quarter. Pacer Advisors Inc. now owns 2,095,673 shares of the construction company’s stock valued at $241,380,000 after purchasing an additional 541,140 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in 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 purchasing an additional 431,160 shares during the last quarter. Institutional investors own 91.76% of the company’s stock.

About Toll Brothers

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.