Toll Brothers Inc. (NYSE:TOL) shares shot up 8.4% during mid-day trading on Tuesday . The stock traded as high as $32.15 and last traded at $31.78, with a volume of 9,608,666 shares. The stock had previously closed at $29.33.

Several brokerages have recently issued reports on TOL. Zacks Investment Research downgraded shares of Toll Brothers from a “hold” rating to a “sell” rating in a research note on Monday, May 23rd. Credit Suisse Group AG downgraded shares of Toll Brothers from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $34.00 to $30.00 in a research note on Monday, July 11th. Kaufman Brothers set a $38.00 target price on shares of Toll Brothers and gave the stock a “buy” rating in a research note on Saturday, May 21st. Deutsche Bank AG restated a “buy” rating and set a $41.00 price objective on shares of Toll Brothers in a research report on Wednesday, May 25th. Finally, Buckingham Research upgraded shares of Toll Brothers from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $35.00 in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Toll Brothers currently has a consensus rating of “Buy” and a consensus price target of $38.34.

The firm’s 50-day moving average is $28.01 and its 200-day moving average is $27.89. The company has a market capitalization of $5.29 billion and a P/E ratio of 15.39.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, August 23rd. The company reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The business’s revenue was up 23.5% on a year-over-year basis. Equities analysts predict that Toll Brothers Inc. will post $2.59 EPS for the current fiscal year.

In other Toll Brothers news, Director Carl B. Marbach sold 3,000 shares of Toll Brothers stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $29.11, for a total transaction of $87,330.00. Following the completion of the sale, the director now directly owns 95,995 shares in the company, valued at approximately $2,794,414.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Other hedge funds have made changes to their positions in the company. Utah Retirement Systems boosted its stake in shares of Toll Brothers by 0.3% in the fourth quarter. Utah Retirement Systems now owns 31,405 shares of the company’s stock valued at $1,045,000 after buying an additional 100 shares during the last quarter. Airain ltd boosted its stake in shares of Toll Brothers by 1,069.3% in the fourth quarter. Airain ltd now owns 132,128 shares of the company’s stock valued at $4,400,000 after buying an additional 120,828 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Toll Brothers by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 517,866 shares of the company’s stock valued at $17,245,000 after buying an additional 7,409 shares during the last quarter. Finally, Morgan Stanley boosted its position in Toll Brothers by 0.8% in the fourth quarter. Morgan Stanley now owns 531,336 shares of the company’s stock valued at $17,694,000 after buying an additional 4,326 shares in the last quarter.

Toll Brothers, Inc designs, builds, markets and arranges financing for detached and attached homes in luxury residential communities. The Company caters to move-up, empty nester, active-adult, age-qualified and second-home buyers in the United States (Traditional Home Building Product). The Company operates in two segments: traditional home building and urban infill.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.