Toll Brothers (NYSE:TOL) Price Target Raised to $170.00

Toll Brothers (NYSE:TOL) had its price target raised by Morgan Stanley from $159.00 to $170.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other research analysts have also issued research reports about the company. Truist Financial boosted their price target on Toll Brothers from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Stonex Financial raised Toll Brothers to a “strong-buy” rating in a report on Thursday, October 15th. Citigroup cut their price objective on shares of Toll Brothers from $179.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, October 15th. Weiss Ratings raised shares of Toll Brothers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 29th. Finally, Melius Research initiated coverage on shares of Toll Brothers in a report on Tuesday, October 6th. They issued a “buy” rating and a $179.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $167.40.

Toll Brothers Stock Down 2.0%

TOL stock opened at $155.26 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 4.53 and a debt-to-equity ratio of 0.32. Toll Brothers has a fifty-two week low of $123.14 and a fifty-two week high of $168.36. The firm’s 50-day simple moving average is $138.35 and its 200 day simple moving average is $144.31. The stock has a market cap of $14.31 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.18 and a beta of 1.30.

Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, August 18th. The construction company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.93 by $0.04. Toll Brothers had a net margin of 11.14% and a return on equity of 14.21%. The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the firm earned $3.73 EPS. Toll Brothers’s quarterly revenue was down 9.7% on a year-over-year basis. As a group, sell-side analysts predict that Toll Brothers 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. Stockholders of record on Friday, October 9th were given a dividend of $0.26 per share. The ex-dividend date was Friday, October 9th. This represents a $1.04 annualized dividend and a dividend yield of 0.7%. Toll Brothers’s dividend payout ratio (DPR) is 8.35%.

Insider Activity

In other news, Director Stephen East sold 800 shares of Toll Brothers stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $135.99, for a total value of $108,792.00. Following the transaction, the director owned 12,642 shares of the company’s stock, valued at $1,719,185.58. The trade was a 5.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.37% of the stock is owned by corporate insiders.

Institutional Trading of Toll Brothers

A number of large investors have recently added to or reduced their stakes in the business. Silver Grove Financial Group Inc. increased its holdings in shares of Toll Brothers by 52.0% during the third quarter. Silver Grove Financial Group Inc. now owns 272 shares of the construction company’s stock worth $37,000 after purchasing an additional 93 shares during the period. AlphaCore Capital LLC raised its position in shares of Toll Brothers by 77.8% in the third quarter. AlphaCore Capital LLC now owns 3,397 shares of the construction company’s stock valued at $458,000 after buying an additional 1,486 shares in the last quarter. Fulcrum Asset Management LLP boosted its stake in shares of Toll Brothers by 927.1% in the third quarter. Fulcrum Asset Management LLP now owns 5,002 shares of the construction company’s stock valued at $680,000 after buying an additional 4,515 shares during the period. Burton Enright Welch bought a new stake in shares of Toll Brothers in the third quarter valued at approximately $208,000. Finally, Ethic Inc. boosted its stake in shares of Toll Brothers by 28.6% in the third quarter. Ethic Inc. now owns 4,829 shares of the construction company’s stock valued at $651,000 after buying an additional 1,074 shares during the period. 91.76% of the stock is currently owned by institutional investors.

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.