JPMorgan Chase & Co. Upgrades Toll Brothers (NYSE:TOL) to “Overweight”

Toll Brothers (NYSE:TOL) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Thursday, MarketBeat.com reports. The firm presently has a $161.00 price objective on the construction company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 12.74% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods raised their price objective on Toll Brothers from $143.00 to $145.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Wedbush reiterated an “outperform” rating and issued a $165.00 price target on shares of Toll Brothers in a research note on Thursday, September 18th. BTIG Research initiated coverage on shares of Toll Brothers in a research note on Monday. They issued a “neutral” rating for the company. Evercore ISI reissued an “in-line” rating and set a $160.00 price target (down previously from $169.00) on shares of Toll Brothers in a research report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Toll Brothers in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Toll Brothers has an average rating of “Moderate Buy” and an average price target of $150.21.

Toll Brothers Stock Up 2.7%

NYSE:TOL opened at $142.80 on Thursday. The stock has a 50-day simple moving average of $134.90 and a 200 day simple moving average of $126.93. Toll Brothers has a 52-week low of $86.67 and a 52-week high of $161.62. The company has a market cap of $13.76 billion, a PE ratio of 10.49, a PEG ratio of 1.63 and a beta of 1.39. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.51 and a current ratio of 4.38.

Insider Buying and Selling at Toll Brothers

In other news, Director Paul E. Shapiro sold 3,812 shares of Toll Brothers stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $147.65, for a total value of $562,841.80. Following the completion of the transaction, the director directly owned 118,753 shares of the company’s stock, valued at approximately $17,533,880.45. This trade represents a 3.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.54% of the company’s stock.

Institutional Investors Weigh In On Toll Brothers

Several large investors have recently added to or reduced their stakes in TOL. PNC Financial Services Group Inc. boosted its holdings in shares of Toll Brothers by 5.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 22,894 shares of the construction company’s stock worth $2,417,000 after buying an additional 1,232 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Toll Brothers by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 689,508 shares of the construction company’s stock valued at $72,805,000 after acquiring an additional 7,670 shares in the last quarter. Headlands Technologies LLC lifted its position in shares of Toll Brothers by 359.4% during the 1st quarter. Headlands Technologies LLC now owns 21,277 shares of the construction company’s stock valued at $2,247,000 after acquiring an additional 16,646 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Toll Brothers by 218.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the construction company’s stock valued at $38,000 after acquiring an additional 249 shares during the period. Finally, Citigroup Inc. boosted its stake in Toll Brothers by 19.1% during the first quarter. Citigroup Inc. now owns 178,233 shares of the construction company’s stock worth $18,820,000 after acquiring an additional 28,606 shares in the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.

Toll Brothers Company Profile

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.