Barclays Reiterates Sell Rating for Toll Brothers (TOL)
Toll Brothers (NYSE:TOL)‘s stock had its “sell” rating reaffirmed by equities researchers at Barclays in a research report issued to clients and investors on Friday. They presently have a $37.00 price target on the construction company’s stock, down from their previous price target of $39.00. Barclays’ price objective suggests a potential upside of 0.60% from the stock’s current price.
TOL has been the subject of a number of other reports. ValuEngine lowered shares of Toll Brothers from a “hold” rating to a “sell” rating in a research report on Monday, June 18th. Zacks Investment Research raised shares of Toll Brothers from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Tuesday, July 24th. Deutsche Bank reduced their price target on shares of Toll Brothers from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, May 24th. MKM Partners reduced their price target on shares of Toll Brothers to $53.00 and set a “buy” rating for the company in a research report on Wednesday, May 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Toll Brothers from $54.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, May 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $50.26.
NYSE TOL opened at $36.78 on Friday. The company has a quick ratio of 0.88, a current ratio of 6.98 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $5.45 billion, a PE ratio of 11.60, a P/E/G ratio of 0.51 and a beta of 1.34. Toll Brothers has a 52-week low of $33.47 and a 52-week high of $52.73.
In related news, Director Edward G. Boehne sold 17,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $37.64, for a total value of $639,880.00. Following the transaction, the director now owns 99,598 shares in the company, valued at $3,748,868.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.78% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in TOL. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Toll Brothers by 186.7% during the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,300 shares of the construction company’s stock valued at $159,000 after purchasing an additional 2,800 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in Toll Brothers during the first quarter valued at approximately $203,000. Cerebellum GP LLC acquired a new position in Toll Brothers during the second quarter valued at approximately $182,000. Parallel Advisors LLC grew its holdings in Toll Brothers by 1,850.4% during the second quarter. Parallel Advisors LLC now owns 5,227 shares of the construction company’s stock valued at $193,000 after purchasing an additional 4,959 shares during the last quarter. Finally, Strategic Global Advisors LLC acquired a new position in Toll Brothers during the first quarter valued at approximately $234,000. Hedge funds and other institutional investors own 79.49% of the company’s stock.
About Toll Brothers
Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, and arranges finance for detached and attached homes in luxury residential communities in the United States. The company operates through two segments, Traditional Home Building and City Living. It also builds and sells homes in urban infill markets through Toll Brothers City Living.
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