Toll Brothers Inc. (NYSE:TOL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $48.00 target price on the construction company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.12% from the company’s previous close.

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 equities analysts have also recently weighed in on TOL. Keefe, Bruyette & Woods reissued a “hold” rating and set a $40.00 price objective on shares of Toll Brothers in a report on Sunday. KeyCorp reaffirmed a “hold” rating on shares of Toll Brothers in a research note on Tuesday, September 26th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $45.00 price target on shares of Toll Brothers in a research note on Monday, September 25th. Wedbush reaffirmed a “neutral” rating and issued a $37.00 price target (down from $40.00) on shares of Toll Brothers in a research note on Tuesday, August 22nd. Finally, Bank of America Corporation lifted their price target on Toll Brothers from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.00.

Toll Brothers (NYSE:TOL) traded up 0.02% on Tuesday, hitting $42.82. The stock had a trading volume of 696,234 shares. Toll Brothers has a 1-year low of $26.65 and a 1-year high of $42.99. The stock has a market capitalization of $6.78 billion, a price-to-earnings ratio of 15.96 and a beta of 1.50. The company has a 50-day moving average price of $39.72 and a 200-day moving average price of $38.40.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, August 22nd. The construction company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate 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%. Toll Brothers’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the firm posted $0.61 EPS. Equities analysts predict that Toll Brothers will post $3.19 earnings per share for the current year.

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In other news, Director Carl B. Marbach sold 12,900 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $39.97, for a total transaction of $515,613.00. Following the transaction, the director now directly owns 114,149 shares of the company’s stock, valued at $4,562,535.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Martin P. Connor sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $41.45, for a total value of $82,900.00. Following the transaction, the chief financial officer now directly owns 34,836 shares in the company, valued at $1,443,952.20. The disclosure for this sale can be found here. Insiders have sold 22,400 shares of company stock worth $882,613 over the last three months. Insiders own 8.78% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of TOL. BlackRock Inc. increased its stake in shares of Toll Brothers by 7,882.3% during the first quarter. BlackRock Inc. now owns 16,520,268 shares of the construction company’s stock valued at $596,546,000 after buying an additional 16,313,307 shares during the period. FMR LLC increased its stake in shares of Toll Brothers by 34.9% during the first quarter. FMR LLC now owns 7,975,533 shares of the construction company’s stock valued at $287,997,000 after buying an additional 2,065,250 shares during the period. Koch Industries Inc. purchased a new position in shares of Toll Brothers during the second quarter valued at approximately $1,177,000. Vanguard Group Inc. increased its stake in shares of Toll Brothers by 7.2% during the first quarter. Vanguard Group Inc. now owns 12,216,855 shares of the construction company’s stock valued at $441,150,000 after buying an additional 815,737 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Toll Brothers by 154.8% during the first quarter. AQR Capital Management LLC now owns 787,120 shares of the construction company’s stock valued at $28,423,000 after buying an additional 478,155 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Toll Brothers (NYSE:TOL)

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