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

Toll Brothers (NYSE:TOL) had its target price hoisted by Truist Financial from $165.00 to $170.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Other equities analysts also recently issued research reports about the stock. Benchmark initiated coverage on shares of Toll Brothers in a report on Tuesday, June 9th. They issued a “buy” rating on the stock. Oppenheimer downgraded shares of Toll Brothers from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 9th. Evercore reiterated an “outperform” rating and set a $191.00 price target on shares of Toll Brothers in a research note on Thursday. BTIG Research started coverage on shares of Toll Brothers in a research report on Tuesday, June 9th. They set a “buy” rating for the company. Finally, Barclays upped their price objective on Toll Brothers from $115.00 to $122.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.25.

Toll Brothers Stock Up 1.3%

Toll Brothers stock opened at $147.03 on Thursday. The stock has a market cap of $13.74 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.20 and a beta of 1.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.59 and a current ratio of 4.53. Toll Brothers has a one year low of $123.14 and a one year high of $168.36. The stock has a fifty day moving average of $151.97 and a 200 day moving average of $146.43.

Toll Brothers (NYSE:TOL) last announced its earnings results on Tuesday, August 18th. The construction company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.04. Toll Brothers had a return on equity of 14.21% and a net margin of 11.14%.The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the firm posted $3.73 earnings per share. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. As a group, sell-side analysts predict that Toll Brothers will post 12.81 EPS for the current year.

Toll Brothers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, July 10th. Toll Brothers’s dividend payout ratio is presently 8.35%.

Insiders Place Their Bets

In other news, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $156.58, for a total transaction of $12,206,507.06. Following the sale, the chairman directly owned 321,256 shares in the company, valued at $50,302,264.48. This trade represents a 19.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert Parahus sold 7,500 shares of Toll Brothers stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $149.66, for a total transaction of $1,122,450.00. Following the transaction, the chief operating officer owned 23,457 shares in the company, valued at approximately $3,510,574.62. This trade represents a 24.23% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Toll Brothers

Several large investors have recently made changes to their positions in TOL. BlackRock Inc. bought a new position in shares of Toll Brothers in the second quarter worth about $1,610,696,000. Price T Rowe Associates Inc. MD raised its stake in Toll Brothers by 2,067.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,303,915 shares of the construction company’s stock valued at $446,756,000 after purchasing an additional 3,151,509 shares during the period. Norges Bank bought a new stake in Toll Brothers during the 4th quarter valued at approximately $168,312,000. Bamco Inc. NY purchased a new position in Toll Brothers in the 2nd quarter worth approximately $166,250,000. Finally, Bank of New York Mellon Corp purchased a new position in Toll Brothers in the 2nd quarter worth approximately $164,804,000. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

About Toll Brothers

Toll Brothers, Inc is a publicly traded homebuilding company that focuses on designing and constructing luxury residential properties. The company’s core business encompasses a broad range of housing products, including custom single-family homes, upscale condominium communities and rental apartment ventures. Toll Brothers emphasizes high-end finishes and architectural craftsmanship, positioning itself in the premium segment of the U.S. housing market.

In addition to traditional homebuilding, Toll Brothers operates specialized divisions to address evolving consumer preferences.