Wedbush Upgrades Toll Brothers (NYSE:TOL) to Outperform

Toll Brothers (NYSE:TOL) was upgraded by equities research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a report issued on Friday, Briefing.com reports. The brokerage currently has a $175.00 price target on the construction company’s stock. Wedbush’s price target indicates a potential upside of 16.12% from the stock’s current price.

TOL has been the subject of several other research reports. Evercore ISI upped their target price on shares of Toll Brothers from $177.00 to $180.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. StockNews.com cut Toll Brothers from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Oppenheimer increased their target price on Toll Brothers from $168.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their price target on Toll Brothers from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, Royal Bank of Canada increased their price objective on shares of Toll Brothers from $130.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Toll Brothers has a consensus rating of “Moderate Buy” and an average target price of $148.87.

Toll Brothers Stock Performance

NYSE:TOL opened at $150.71 on Friday. The stock has a 50-day simple moving average of $147.52 and a two-hundred day simple moving average of $131.39. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 4.52. Toll Brothers has a 52-week low of $68.08 and a 52-week high of $160.12. The firm has a market capitalization of $15.47 billion, a PE ratio of 10.29, a P/E/G ratio of 1.19 and a beta of 1.66.

Toll Brothers (NYSE:TOL) last released its earnings results on Tuesday, August 20th. The construction company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.29. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.73 EPS. Analysts forecast that Toll Brothers will post 13.51 EPS for the current year.

Insider Transactions at Toll Brothers

In related news, CFO Martin P. Connor sold 22,673 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $143.28, for a total transaction of $3,248,587.44. Following the sale, the chief financial officer now owns 14,721 shares in the company, valued at approximately $2,109,224.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Toll Brothers news, CFO Martin P. Connor sold 22,673 shares of Toll Brothers stock in a transaction on Friday, August 30th. The shares were sold at an average price of $143.28, for a total transaction of $3,248,587.44. Following the completion of the transaction, the chief financial officer now directly owns 14,721 shares of the company’s stock, valued at $2,109,224.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $158.23, for a total transaction of $3,955,750.00. Following the completion of the sale, the chief executive officer now directly owns 221,382 shares in the company, valued at approximately $35,029,273.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,257 shares of company stock worth $32,602,152. 1.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Register Financial Advisors LLC purchased a new stake in shares of Toll Brothers in the first quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Toll Brothers in the second quarter worth $29,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Toll Brothers by 114.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock worth $31,000 after purchasing an additional 142 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Toll Brothers by 202.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 333 shares of the construction company’s stock valued at $38,000 after purchasing an additional 223 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of Toll Brothers by 323.4% in the third quarter. UMB Bank n.a. now owns 271 shares of the construction company’s stock worth $42,000 after purchasing an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

About Toll Brothers

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for a range of detached and attached homes in luxury residential communities in the United States. It designs, builds, markets, and sells condominiums through Toll Brothers City Living. The company also develops a range of single-story living and first-floor primary bedroom suite home designs, as well as communities with recreational amenities, such as golf courses, marinas, pool complexes, country clubs, and fitness and recreation centers; and develops, operates, and rents apartments.