Toll Brothers Rating Reiterated by Zacks (TOL)
Toll Brothers (NYSE:TOL)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Friday, Analyst Ratings Network.com reports. They currently have a $38.00 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 3.74% from the stock’s previous close.
Zacks‘ analyst wrote, “Toll Brothers fiscal fourth quarter results were strong with the top and bottom line beating the Zacks Consensus Estimate. Adjusted earnings of $0.52 per share increased 48.6% while revenues grew 65.0% year over year. Both the metrics also exceeded the company’s guided range by a wide margin. The upside reflects aggressive pricing and increased number of homes delivered. The company will benefit from its aggressive investment in well-positioned land and its deal to purchase the homebuilding business of Shapell Industries, which is expected to boost its presence in the upscale Californian housing market. Also, Toll Brothers’ cash position is strong. However, the company witnessed lower order growth in the quarter and expects the trend to continue in the upcoming quarter, owing to price increase, recent hike in interest rates and uncertainty concerning federal budget. Therefore, we prefer to remain on the sidelines with a Neutral recommendation on the stock. “
In other Toll Brothers news, CEO Douglas Jr. Yearley sold 15,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $37.02, for a total value of $555,300.00. Following the sale, the chief executive officer now directly owns 85,762 shares of the company’s stock, valued at approximately $3,174,909. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at JMP Securities cut their EPS estimates on shares of Toll Brothers in a research note on Friday. They now have an “outperform” rating and a $44.00 price target on the stock. Separately, analysts at Jefferson Research downgraded shares of Toll Brothers from a “buy” rating to a “hold” rating in a research note to investors on Friday. Finally, analysts at RBC Capital raised their price target on shares of Toll Brothers from $30.00 to $35.00 in a research note to investors on Wednesday, December 11th. They now have a “sector perform” rating on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $37.42.
Shares of Toll Brothers (NYSE:TOL) traded down 0.19% during mid-day trading on Friday, hitting $36.56. 972,719 shares of the company’s stock traded hands. Toll Brothers has a 52-week low of $29.64 and a 52-week high of $39.25. The stock has a 50-day moving average of $34.22 and a 200-day moving average of $32.77. The company has a market cap of $6.481 billion and a price-to-earnings ratio of 37.84.
Toll Brothers (NYSE:TOL) last released its earnings data on Tuesday, December 10th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $981.62 million. During the same quarter in the previous year, the company posted $2.35 earnings per share. The company’s revenue for the quarter was up 65.1% on a year-over-year basis. Analysts expect that Toll Brothers will post $1.62 EPS for the current fiscal year.
Toll Brothers, Inc designs, builds, markets and arranges financing for single-family detached and attached homes in luxury residential communities.
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