Toll Brothers Inc. (TOL) Downgraded to “Neutral” at J P Morgan Chase & Co
J P Morgan Chase & Co cut shares of Toll Brothers Inc. (NYSE:TOL) from an overweight rating to a neutral rating in a research report report published on Thursday. J P Morgan Chase & Co currently has $45.00 price target on the construction company’s stock, up from their previous price target of $41.00.
A number of other brokerages also recently weighed in on TOL. Bank of America Corporation restated a buy rating and issued a $43.00 target price (up previously from $40.00) on shares of Toll Brothers in a research note on Wednesday, May 24th. BidaskClub downgraded Toll Brothers from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Barclays PLC downgraded Toll Brothers from an equal weight rating to an underweight rating and set a $37.00 price objective on the stock. in a research note on Tuesday, July 11th. Wedbush set a $37.00 price objective on Toll Brothers and gave the company a hold rating in a research note on Friday, May 19th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $40.00 price objective on shares of Toll Brothers in a research note on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $40.67.
Shares of Toll Brothers (NYSE:TOL) traded up 0.36% during trading on Thursday, hitting $39.35. The stock had a trading volume of 1,640,736 shares. Toll Brothers has a 52 week low of $26.65 and a 52 week high of $41.07. The company’s 50 day moving average price is $38.87 and its 200 day moving average price is $37.72. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 14.67 and a beta of 1.49.
Toll Brothers (NYSE:TOL) last announced its earnings results on Tuesday, August 22nd. The construction company reported $0.87 earnings per share for the quarter, topping 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 the consensus estimate of $1.51 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The company’s revenue was up 18.3% compared to the same quarter last year. Analysts predict that Toll Brothers will post $3.20 earnings per share for the current year.
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In other Toll Brothers news, CFO Martin P. Connor sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $39.45, for a total transaction of $78,900.00. Following the sale, the chief financial officer now owns 34,836 shares of the company’s stock, valued at approximately $1,374,280.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl B. Marbach sold 12,900 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $39.97, for a total transaction of $515,613.00. Following the sale, the director now directly owns 114,149 shares in the company, valued at approximately $4,562,535.53. The disclosure for this sale can be found here. Insiders have sold a total of 34,400 shares of company stock worth $1,357,884 in the last three months. Insiders own 8.78% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Toll Brothers by 1.8% during the 2nd quarter. BlackRock Inc. now owns 16,811,380 shares of the construction company’s stock valued at $664,216,000 after acquiring an additional 291,112 shares during the period. Vanguard Group Inc. raised its holdings in Toll Brothers by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 12,540,189 shares of the construction company’s stock valued at $495,464,000 after acquiring an additional 323,334 shares during the period. FMR LLC raised its holdings in Toll Brothers by 13.4% during the 2nd quarter. FMR LLC now owns 9,042,726 shares of the construction company’s stock valued at $357,278,000 after acquiring an additional 1,067,193 shares during the period. State Street Corp raised its holdings in Toll Brothers by 0.9% during the 2nd quarter. State Street Corp now owns 6,257,962 shares of the construction company’s stock valued at $247,263,000 after acquiring an additional 53,781 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Toll Brothers by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,275,515 shares of the construction company’s stock valued at $208,429,000 after acquiring an additional 13,552 shares during the period. 80.70% of the stock is currently owned by institutional investors and hedge funds.
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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