Toll Brothers (NYSE:TOL) Stock Breaks Above 200 Day Moving Average – Here’s Why

Toll Brothers Inc. (NYSE:TOL)’s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $144.18 and traded as high as $144.41. Toll Brothers shares last traded at $144.2430, with a volume of 951,970 shares traded.

Wall Street Analysts Forecast Growth

TOL has been the topic of several recent research reports. Weiss Ratings raised shares of Toll Brothers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Evercore set a $184.00 target price on shares of Toll Brothers in a research report on Friday, September 25th. Barclays dropped their price target on shares of Toll Brothers from $122.00 to $118.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 6th. Royal Bank Of Canada dropped their price target on shares of Toll Brothers from $158.00 to $148.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Finally, Truist Financial raised their price target on shares of Toll Brothers from $165.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.67.

Toll Brothers Stock Up 1.2%

The stock has a market cap of $13.45 billion, a P/E ratio of 11.71, a PEG ratio of 1.16 and a beta of 1.31. The company has a quick ratio of 0.55, a current ratio of 4.53 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $137.89 and a 200-day simple moving average of $144.18.

Toll Brothers (NYSE:TOL) last released its quarterly earnings results on Tuesday, August 18th. The construction company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.04. Toll Brothers had a net margin of 11.14% and a return on equity of 14.21%. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the firm posted $3.73 earnings per share. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. Analysts expect that Toll Brothers Inc. will post 12.80 EPS for the current year.

Toll Brothers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 9th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, October 9th. Toll Brothers’s payout ratio is currently 8.35%.

Insider Activity at Toll Brothers

In other news, Director Stephen East sold 800 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $135.99, for a total value of $108,792.00. Following the completion of the sale, the director directly owned 12,642 shares of the company’s stock, valued at approximately $1,719,185.58. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Toll Brothers

Several hedge funds have recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Toll Brothers during the 2nd quarter worth about $4,515,000. Mariner Investment Group LLC acquired a new stake in shares of Toll Brothers in the 2nd quarter valued at approximately $1,648,000. Meeder Advisory Services Inc. acquired a new stake in shares of Toll Brothers in the 2nd quarter valued at approximately $862,000. Ceredex Value Advisors LLC bought a new position in Toll Brothers during the 2nd quarter worth approximately $37,012,000. Finally, Amundi boosted its stake in Toll Brothers by 138.4% during the 2nd quarter. Amundi now owns 174,655 shares of the construction company’s stock worth $28,774,000 after acquiring an additional 101,405 shares during the last quarter. Institutional investors own 91.76% of the company’s stock.

About Toll Brothers

Toll Brothers, Inc is a luxury homebuilding company that designs, builds, markets and sells residential properties in the United States. Its portfolio includes single-family detached homes, townhomes, condominiums and luxury residences, along with active-adult communities and urban high-rise developments in select markets.

The company also provides related services through businesses involved in mortgage lending, title insurance and settlement services. Toll Brothers serves a range of buyers, including first-time, move-up, luxury and active-adult home purchasers, and offers customization options through its design studios and other customer-service operations.

Founded in 1967 by Robert I.