Toll Brothers Inc. (TOL) Upgraded by KeyCorp to Overweight
Toll Brothers Inc. (NYSE:TOL) was upgraded by research analysts at KeyCorp to an “overweight” rating in a research report issued to clients and investors on Thursday, The Fly reports. The firm currently has a $52.00 target price on the construction company’s stock, up from their prior target price of $44.55. KeyCorp’s price objective points to a potential upside of 12.95% from the stock’s current price. The analysts noted that the move was a valuation call.
TOL has been the topic of several other research reports. UBS AG initiated coverage on Toll Brothers in a research report on Wednesday, October 25th. They set a “buy” rating and a $50.00 target price on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $47.00 target price on shares of Toll Brothers in a research report on Friday, October 20th. Zacks Investment Research upgraded Toll Brothers from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, October 10th. Mizuho restated a “buy” rating on shares of Toll Brothers in a research report on Tuesday, July 11th. Finally, Barclays PLC lowered Toll Brothers from an “equal weight” rating to an “underweight” rating and set a $37.00 target price on the stock. in a research report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $42.93.
Toll Brothers (NYSE:TOL) last released its quarterly earnings results on Tuesday, August 22nd. The construction company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.19. Toll Brothers had a return on equity of 10.44% and a net margin of 8.12%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The business’s revenue was up 18.3% on a year-over-year basis.
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In related news, CFO Martin P. Connor sold 2,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 34,836 shares of the company’s stock, valued at approximately $1,443,952.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard J. Braemer sold 7,500 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $37.88, for a total transaction of $284,100.00. Following the completion of the transaction, the director now directly owns 110,373 shares of the company’s stock, valued at approximately $4,180,929.24. The disclosure for this sale can be found here. Insiders sold a total of 52,187 shares of company stock valued at $2,184,490 in the last ninety days. 8.78% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. NewSquare Capital LLC bought a new position in Toll Brothers in the 2nd quarter worth $101,000. Advisors Asset Management Inc. boosted its holdings in shares of Toll Brothers by 61.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,667 shares of the construction company’s stock valued at $105,000 after purchasing an additional 1,017 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Toll Brothers by 369.1% during the 2nd quarter. IFP Advisors Inc now owns 2,735 shares of the construction company’s stock valued at $108,000 after purchasing an additional 2,152 shares during the last quarter. Aviance Capital Management LLC bought a new position in shares of Toll Brothers during the 2nd quarter valued at about $151,000. Finally, Toronto Dominion Bank boosted its holdings in shares of Toll Brothers by 5.2% during the 2nd quarter. Toronto Dominion Bank now owns 3,896 shares of the construction company’s stock valued at $154,000 after purchasing an additional 192 shares during the last quarter. 80.78% of the stock is owned by institutional investors.
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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