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

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

A number of other brokerages also recently issued reports on TOL. Oppenheimer increased their price target on Toll Brothers from $157.00 to $168.00 and gave the stock an outperform rating in a research report on Thursday, August 22nd. Citigroup decreased their target price on Toll Brothers from $133.00 to $125.00 and set a neutral rating on the stock in a research report on Tuesday, July 2nd. Wedbush boosted their price target on shares of Toll Brothers from $120.00 to $148.00 and gave the stock a neutral rating in a report on Tuesday, August 27th. The Goldman Sachs Group raised shares of Toll Brothers from a sell rating to a neutral rating and increased their price objective for the company from $112.00 to $124.00 in a report on Monday, June 17th. Finally, Barclays boosted their target price on shares of Toll Brothers from $116.00 to $135.00 and gave the stock an underweight rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $145.67.

Toll Brothers Trading Up 3.1 %

Toll Brothers stock opened at $155.35 on Friday. The firm 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 has a 12 month low of $68.08 and a 12 month high of $156.00. The stock’s 50 day simple moving average is $139.96 and its two-hundred day simple moving average is $127.72. The company has a current ratio of 4.52, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.29. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.73 earnings per share. Analysts anticipate that Toll Brothers will post 13.51 earnings per share for the current year.

Toll Brothers Dividend Announcement

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

Insiders Place Their Bets

In other Toll Brothers news, Director John A. Mclean sold 1,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $151.10, for a total value of $151,100.00. Following the completion of the sale, the director now directly owns 9,944 shares of the company’s stock, valued at approximately $1,502,538.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John A. Mclean sold 1,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 9,944 shares in the company, valued at approximately $1,502,538.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Martin P. Connor sold 22,673 shares of Toll Brothers stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $143.28, for a total transaction of $3,248,587.44. Following the sale, the chief financial officer now directly owns 14,721 shares in the company, valued at approximately $2,109,224.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,257 shares of company stock valued at $28,646,402. Insiders own 1.54% of the company’s stock.

Hedge Funds Weigh In On Toll Brothers

Hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new position in shares of Toll Brothers in the 2nd quarter worth approximately $5,147,000. Cetera Investment Advisers lifted its stake in Toll Brothers by 19.1% during the second quarter. Cetera Investment Advisers now owns 27,000 shares of the construction company’s stock worth $3,110,000 after purchasing an additional 4,336 shares in the last quarter. Old North State Trust LLC boosted its position in shares of Toll Brothers by 16.2% during the second quarter. Old North State Trust LLC now owns 1,926 shares of the construction company’s stock worth $222,000 after buying an additional 268 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Toll Brothers by 81.0% in the second quarter. Point72 Asset Management L.P. now owns 963,650 shares of the construction company’s stock valued at $110,993,000 after buying an additional 431,160 shares in the last quarter. Finally, Chase Investment Counsel Corp purchased a new stake in shares of Toll Brothers in the 2nd quarter valued at $921,000. 91.76% of the stock is currently owned by hedge funds and other institutional investors.

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.