Wedbush Reiterates $37.00 Price Target for Toll Brothers Inc (TOL)
Toll Brothers Inc (NYSE:TOL) has been given a $37.00 target price by research analysts at Wedbush in a note issued to investors on Friday. The firm currently has a “hold” rating on the construction company’s stock. Wedbush’s price target indicates a potential downside of 2.22% from the company’s previous close.
Several other analysts also recently weighed in on the company. Barclays PLC reiterated an “equal weight” rating and set a $37.00 price target (up previously from $34.00) on shares of Toll Brothers in a research note on Tuesday, March 7th. Zacks Investment Research downgraded Toll Brothers from a “buy” rating to a “hold” rating in a research note on Tuesday, February 14th. BTIG Research initiated coverage on Toll Brothers in a research note on Tuesday, February 7th. They set a “neutral” rating on the stock. Royal Bank of Canada boosted their price target on Toll Brothers from $35.00 to $37.00 and gave the company a “sector perform” rating in a research note on Thursday, February 23rd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $37.00 price target on shares of Toll Brothers in a research note on Monday, April 10th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $37.17.
Toll Brothers (NYSE:TOL) traded up 0.99% during midday trading on Friday, reaching $37.84. The company had a trading volume of 1,727,927 shares. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 17.18 and a beta of 1.28. The company has a 50-day moving average price of $36.44 and a 200-day moving average price of $33.13. Toll Brothers has a one year low of $25.29 and a one year high of $38.00.
Toll Brothers (NYSE:TOL) last announced its earnings results on Wednesday, February 22nd. The construction company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.07. Toll Brothers had a return on equity of 9.19% and a net margin of 7.39%. The firm had revenue of $920.70 million for the quarter, compared to the consensus estimate of $902.49 million. During the same period in the previous year, the business earned $0.40 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts expect that Toll Brothers will post $3.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, April 14th were paid a $0.08 dividend. The ex-dividend date was Tuesday, April 11th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.85%.
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In other news, Director Edward G. Boehne sold 17,000 shares of the company’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $33.68, for a total value of $572,560.00. Following the sale, the director now owns 60,167 shares in the company, valued at $2,026,424.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Richard T. Hartman sold 7,836 shares of the company’s stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $37.00, for a total value of $289,932.00. Following the completion of the sale, the president now owns 31,770 shares in the company, valued at approximately $1,175,490. The disclosure for this sale can be found here. Insiders sold 345,822 shares of company stock worth $12,404,734 in the last 90 days. Company insiders own 8.78% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Toll Brothers by 2.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 484,219 shares of the construction company’s stock worth $14,459,000 after buying an additional 11,712 shares during the last quarter. Hellman Jordan Management Co. Inc. MA bought a new stake in shares of Toll Brothers during the third quarter worth approximately $1,171,000. Greenhaven Associates Inc. increased its stake in shares of Toll Brothers by 26.2% in the third quarter. Greenhaven Associates Inc. now owns 3,351,661 shares of the construction company’s stock worth $100,081,000 after buying an additional 696,728 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Toll Brothers by 7.4% in the third quarter. Teachers Advisors LLC now owns 149,252 shares of the construction company’s stock worth $4,457,000 after buying an additional 10,270 shares during the last quarter. Finally, South Dakota Investment Council increased its stake in shares of Toll Brothers by 2.3% in the third quarter. South Dakota Investment Council now owns 1,212,499 shares of the construction company’s stock worth $36,205,000 after buying an additional 26,800 shares during the last quarter. Hedge funds and other institutional investors own 76.85% of the company’s stock.
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.
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