Wells Fargo & Company Boosts Toll Brothers (NYSE:TOL) Price Target to $170.00

Toll Brothers (NYSE:TOL) had its price target raised by Wells Fargo & Company from $163.00 to $170.00 in a report issued on Friday, Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

Other analysts have also recently issued reports about the company. Oppenheimer raised their price target on Toll Brothers from $157.00 to $168.00 and gave the company an outperform rating in a research note on Thursday, August 22nd. The Goldman Sachs Group raised Toll Brothers from a sell rating to a neutral rating and raised their target price for the stock from $112.00 to $124.00 in a research report on Monday, June 17th. Royal Bank of Canada upped their price target on Toll Brothers from $130.00 to $143.00 and gave the company an outperform rating in a report on Thursday, August 22nd. Bank of America increased their price target on shares of Toll Brothers from $160.00 to $165.00 and gave the company a buy rating in a research note on Thursday, September 19th. Finally, Keefe, Bruyette & Woods restated an outperform rating and issued a $142.00 target price on shares of Toll Brothers in a report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $145.67.

Toll Brothers Stock Performance

Shares of Toll Brothers stock opened at $155.35 on Friday. The business has a 50-day simple moving average of $139.96 and a 200-day simple moving average of $127.72. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 4.52. Toll Brothers has a one year low of $68.08 and a one year high of $156.00. The company has a market cap of $15.69 billion, a PE ratio of 10.61, a P/E/G ratio of 1.24 and a beta of 1.67.

Toll Brothers (NYSE:TOL) last posted its quarterly earnings results on Tuesday, August 20th. The construction company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.31 by $0.29. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the business posted $3.73 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that Toll Brothers will post 13.51 EPS for the current fiscal year.

Toll Brothers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, October 11th. Toll Brothers’s dividend payout ratio is currently 6.28%.

Insider Activity at Toll Brothers

In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $147.49, for a total transaction of $12,917,764.16. Following the completion of the sale, the chief executive officer now directly owns 346,382 shares of the company’s stock, valued at approximately $51,087,881.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Martin P. Connor sold 22,673 shares of Toll Brothers stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $143.28, for a total value of $3,248,587.44. Following the sale, the chief financial officer now owns 14,721 shares of the company’s stock, valued at $2,109,224.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 87,584 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $147.49, for a total transaction of $12,917,764.16. Following the transaction, the chief executive officer now directly owns 346,382 shares of the company’s stock, valued at $51,087,881.18. The disclosure for this sale can be found here. Insiders have sold 191,257 shares of company stock worth $28,646,402 in the last quarter. Company insiders own 1.54% of the company’s stock.

Institutional Investors Weigh In On Toll Brothers

Institutional investors have recently added to or reduced their stakes in the business. Register Financial Advisors LLC purchased a new stake in shares of Toll Brothers in the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Toll Brothers during the 2nd quarter worth $29,000. Contravisory Investment Management Inc. acquired a new position in shares of Toll Brothers during the 1st quarter worth $34,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Toll Brothers by 114.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 266 shares of the construction company’s stock valued at $31,000 after purchasing an additional 142 shares in the last quarter. Finally, Rise Advisors LLC acquired a new stake in shares of Toll Brothers in the first quarter valued at about $35,000. Hedge funds and other institutional investors own 91.76% of the company’s stock.

About Toll Brothers

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.