Bank of America Has Lowered Expectations for Toll Brothers (NYSE:TOL) Stock Price

Toll Brothers (NYSE:TOL) had its target price cut by Bank of America from $165.00 to $156.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Bank of America‘s price target would suggest a potential upside of 12.18% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $189.00 price objective on shares of Toll Brothers in a research report on Thursday, December 12th. Citigroup decreased their target price on shares of Toll Brothers from $155.00 to $137.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Barclays cut their target price on shares of Toll Brothers from $135.00 to $115.00 and set an “underweight” rating for the company in a research report on Thursday, January 16th. Keefe, Bruyette & Woods downgraded shares of Toll Brothers from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $168.00 to $164.00 in a research note on Tuesday, December 10th. Finally, UBS Group reduced their target price on shares of Toll Brothers from $192.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $156.00.

Toll Brothers Price Performance

Shares of NYSE TOL traded up $4.01 during midday trading on Monday, reaching $139.07. 697,187 shares of the company were exchanged, compared to its average volume of 1,314,975. The stock’s 50-day moving average price is $139.51 and its 200-day moving average price is $142.14. The stock has a market cap of $13.91 billion, a P/E ratio of 9.26, a PEG ratio of 1.04 and a beta of 1.74. Toll Brothers has a one year low of $97.45 and a one year high of $169.52. The company has a quick ratio of 0.80, a current ratio of 4.92 and a debt-to-equity ratio of 0.37.

Toll Brothers (NYSE:TOL) last posted its 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. Toll Brothers had a net margin of 14.48% and a return on equity of 19.64%. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same quarter in the prior year, the business posted $4.11 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Toll Brothers will post 14.25 earnings per share for the current fiscal year.

Insider Transactions at Toll Brothers

In other news, Director Christine Garvey sold 204 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $125.78, for a total value of $25,659.12. Following the completion of the transaction, the director now owns 7,728 shares in the company, valued at $972,027.84. This trade represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul E. Shapiro sold 3,837 shares of Toll Brothers stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $134.14, for a total value of $514,695.18. Following the sale, the director now owns 119,937 shares of the company’s stock, valued at approximately $16,088,349.18. This represents a 3.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,202 shares of company stock worth $1,947,436. Insiders own 1.54% of the company’s stock.

Hedge Funds Weigh In On Toll Brothers

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fiduciary Alliance LLC bought a new stake in shares of Toll Brothers in the 4th quarter valued at approximately $1,117,000. Franklin Resources Inc. lifted its holdings in shares of Toll Brothers by 5.4% in the third quarter. Franklin Resources Inc. now owns 180,023 shares of the construction company’s stock valued at $27,659,000 after buying an additional 9,195 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Toll Brothers during the third quarter valued at $12,506,000. Chartwell Investment Partners LLC lifted its holdings in shares of Toll Brothers by 66.5% during the third quarter. Chartwell Investment Partners LLC now owns 35,295 shares of the construction company’s stock valued at $5,453,000 after purchasing an additional 14,092 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in Toll Brothers by 4,894.1% during the third quarter. Avior Wealth Management LLC now owns 3,396 shares of the construction company’s stock valued at $525,000 after buying an additional 3,328 shares during the period. 91.76% of the stock is owned by institutional investors and hedge funds.

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.