Toll Brothers’ (TOL) Neutral Rating Reaffirmed at Wedbush
Wedbush reissued their neutral rating on shares of Toll Brothers Inc (NYSE:TOL) in a research note issued to investors on Wednesday morning. Wedbush currently has a $32.00 price objective on the stock.
A number of other brokerages have also commented on TOL. TheStreet upgraded shares of Toll Brothers from a hold rating to a buy rating in a research note on Monday, December 5th. Royal Bank of Canada restated a sector perform rating and set a $35.00 price target (up previously from $34.00) on shares of Toll Brothers in a research note on Wednesday, December 7th. Zacks Investment Research lowered shares of Toll Brothers from a buy rating to a hold rating in a research note on Monday, December 5th. Deutsche Bank AG boosted their price target on shares of Toll Brothers from $41.00 to $42.00 and gave the company a buy rating in a research note on Tuesday, December 6th. Finally, Barclays PLC started coverage on shares of Toll Brothers in a research note on Thursday, January 5th. They set an equal weight rating and a $32.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $35.08.
Toll Brothers (NYSE:TOL) opened at 36.40 on Wednesday. The stock has a 50 day moving average price of $33.47 and a 200 day moving average price of $30.87. The stock has a market cap of $5.92 billion, a P/E ratio of 16.53 and a beta of 1.28. Toll Brothers has a 52-week low of $25.29 and a 52-week high of $37.28.
Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.07. The business earned $920.70 million during the quarter, compared to analyst estimates of $902.49 million. Toll Brothers had a net margin of 7.39% and a return on equity of 9.19%. Toll Brothers’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 EPS. On average, equities research analysts forecast that Toll Brothers will post $3.11 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be paid a $0.08 dividend. The ex-dividend date is Tuesday, April 11th. This represents a $0.32 annualized dividend and a dividend yield of 0.88%.
In other news, insider Joseph R. Sicree sold 1,900 shares of the company’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $36.41, for a total value of $69,179.00. Following the completion of the sale, the insider now owns 24,667 shares in the company, valued at approximately $898,125.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 8,000 shares of the company’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $34.05, for a total transaction of $272,400.00. Following the completion of the sale, the chief executive officer now owns 204,372 shares of the company’s stock, valued at approximately $6,958,866.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 330,150 shares of company stock valued at $11,831,139. Company insiders own 8.78% of the company’s stock.
Several hedge funds have recently bought and sold shares of TOL. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Toll Brothers by 2.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 484,219 shares of the company’s stock valued at $14,459,000 after buying an additional 11,712 shares during the last quarter. Trinity Street Asset Management LLP raised its stake in Toll Brothers by 1.0% in the third quarter. Trinity Street Asset Management LLP now owns 1,347,825 shares of the company’s stock valued at $40,246,000 after buying an additional 13,418 shares during the last quarter. Greenhaven Associates Inc. raised its stake in Toll Brothers by 26.2% in the third quarter. Greenhaven Associates Inc. now owns 3,351,661 shares of the company’s stock valued at $100,081,000 after buying an additional 696,728 shares during the last quarter. Fisher Asset Management LLC raised its stake in Toll Brothers by 5.4% in the third quarter. Fisher Asset Management LLC now owns 612,914 shares of the company’s stock valued at $18,302,000 after buying an additional 31,310 shares during the last quarter. Finally, Covalent Partners LLC raised its stake in Toll Brothers by 11.0% in the third quarter. Covalent Partners LLC now owns 564,817 shares of the company’s stock valued at $16,865,000 after buying an additional 55,817 shares during the last quarter. Hedge funds and other institutional investors own 76.85% of the company’s stock.
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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