Wedbush Reaffirms “Outperform” Rating for Toll Brothers (NYSE:TOL)

Toll Brothers (NYSE:TOL)‘s stock had its “outperform” rating reiterated by Wedbush in a research note issued on Wednesday,RTT News reports. They currently have a $175.00 price target on the construction company’s stock. Wedbush’s price objective would indicate a potential upside of 26.46% from the stock’s previous close.

Several other brokerages have also issued reports on TOL. Barclays boosted their price objective on Toll Brothers from $116.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Royal Bank of Canada raised their price objective on shares of Toll Brothers from $130.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Keefe, Bruyette & Woods lowered shares of Toll Brothers from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $168.00 to $164.00 in a research note on Tuesday. StockNews.com downgraded Toll Brothers from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Oppenheimer upped their price objective on Toll Brothers from $168.00 to $189.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $151.07.

Toll Brothers Stock Performance

Shares of NYSE:TOL opened at $138.38 on Wednesday. The firm’s 50 day simple moving average is $153.40 and its 200 day simple moving average is $139.08. Toll Brothers has a fifty-two week low of $91.92 and a fifty-two week high of $169.52. The company has a market capitalization of $13.97 billion, a price-to-earnings ratio of 9.21, a P/E/G ratio of 1.07 and a beta of 1.69. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.92 and a quick ratio of 0.57.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Monday, December 9th. The construction company reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $4.34 by $0.29. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.17 billion. Toll Brothers had a net margin of 14.48% and a return on equity of 19.64%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $4.11 earnings per share. As a group, sell-side analysts forecast that Toll Brothers will post 14.55 earnings per share for the current year.

Insiders Place Their Bets

In other Toll Brothers news, Director John A. Mclean sold 1,000 shares of Toll Brothers stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $151.10, for a total transaction of $151,100.00. Following the completion of the transaction, the director now directly owns 9,944 shares of the company’s stock, valued at $1,502,538.40. The trade was a 9.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 25,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $153.05, for a total transaction of $3,826,250.00. Following the completion of the transaction, the chief executive officer now directly owns 296,382 shares in the company, valued at $45,361,265.10. The trade was a 7.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,000 shares of company stock valued at $16,435,800 over the last 90 days. 1.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TOL. Larson Financial Group LLC boosted its holdings in shares of Toll Brothers by 57.9% during the third quarter. Larson Financial Group LLC now owns 180 shares of the construction company’s stock worth $28,000 after acquiring an additional 66 shares during the period. First Trust Direct Indexing L.P. boosted its stake in Toll Brothers by 1.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,089 shares of the construction company’s stock valued at $786,000 after purchasing an additional 72 shares during the period. Fifth Third Bancorp grew its holdings in Toll Brothers by 11.2% in the 2nd quarter. Fifth Third Bancorp now owns 814 shares of the construction company’s stock valued at $94,000 after buying an additional 82 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in Toll Brothers by 3.7% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 2,351 shares of the construction company’s stock worth $363,000 after buying an additional 83 shares during the period. Finally, Clifford Swan Investment Counsel LLC lifted its holdings in shares of Toll Brothers by 5.1% during the second quarter. Clifford Swan Investment Counsel LLC now owns 1,839 shares of the construction company’s stock worth $212,000 after buying an additional 89 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.