KeyCorp Upgrades Toll Brothers Inc. (TOL) to “Overweight”
Toll Brothers Inc. (NYSE:TOL) was upgraded by research analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued to investors on Thursday. The firm currently has a $52.00 price target on the construction company’s stock, up from their previous price target of $44.55. KeyCorp’s target price points to a potential upside of 18.45% from the company’s previous close. The analysts noted that the move was a valuation call.
TOL has been the topic of a number of other research reports. BidaskClub cut shares of Toll Brothers from a “hold” rating to a “sell” rating in a report on Friday, August 25th. UBS Group AG (USA) started coverage on shares of Toll Brothers in a report on Wednesday, October 25th. They issued a “buy” rating and a $50.00 price target on the stock. Zacks Investment Research cut shares of Toll Brothers from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $47.00 price target on shares of Toll Brothers in a report on Friday, October 20th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $45.00 price target on shares of Toll Brothers in a report on Monday, September 25th. Two analysts have 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. The stock currently has an average rating of “Hold” and a consensus target price of $42.93.
Toll Brothers (NYSE:TOL) traded down $2.73 during trading hours on Thursday, hitting $43.90. 2,940,602 shares of the company were exchanged, compared to its average volume of 1,730,000. The company has a debt-to-equity ratio of 0.84, a current ratio of 6.75 and a quick ratio of 1.10. The company has a market cap of $6.95 billion, a PE ratio of 16.28, a PEG ratio of 0.94 and a beta of 1.55. Toll Brothers has a 52 week low of $26.65 and a 52 week high of $46.63.
Toll Brothers (NYSE:TOL) last posted its quarterly earnings results on Tuesday, August 22nd. The construction company reported $0.87 EPS for the quarter, topping 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 net margin of 8.12% and a return on equity of 10.44%. Toll Brothers’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS. sell-side analysts anticipate that Toll Brothers will post 3.2 EPS for the current year.
In other news, President Richard T. Hartman sold 8,537 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $46.00, for a total transaction of $392,702.00. Following the completion of the transaction, the president now directly owns 27,233 shares in the company, valued at approximately $1,252,718. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin P. Connor sold 5,000 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $43.45, for a total transaction of $217,250.00. Following the transaction, the chief financial officer now owns 37,836 shares of the company’s stock, valued at $1,643,974.20. The disclosure for this sale can be found here. Insiders have sold a total of 52,187 shares of company stock valued at $2,184,490 over the last 90 days. Company 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. Koch Industries Inc. purchased a new position in shares of Toll Brothers during the 2nd quarter valued at $1,177,000. FMR LLC grew 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 acquiring an additional 1,067,193 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Toll Brothers in the third quarter worth $36,566,000. Prudential Financial Inc. grew its position in Toll Brothers by 42.9% in the second quarter. Prudential Financial Inc. now owns 1,433,541 shares of the construction company’s stock worth $56,639,000 after acquiring an additional 430,220 shares in the last quarter. Finally, Vanguard Group Inc. grew 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 acquiring an additional 323,334 shares in the last quarter. Hedge funds and other institutional investors own 80.78% of the company’s stock.
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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