Bank of America Raises Toll Brothers (NYSE:TOL) Price Target to $165.00

Toll Brothers (NYSE:TOL) had its target price hoisted by Bank of America from $160.00 to $165.00 in a research note issued to investors on Thursday morning, Benzinga reports. Bank of America currently has a buy rating on the construction company’s stock.

A number of other brokerages have also weighed in on TOL. The Goldman Sachs Group upgraded shares of Toll Brothers from a sell rating to a neutral rating and lifted their price objective for the company from $112.00 to $124.00 in a report on Monday, June 17th. Wells Fargo & Company lifted their price objective on shares of Toll Brothers from $150.00 to $160.00 and gave the company an overweight rating in a report on Thursday, August 22nd. Wedbush lifted their price objective on shares of Toll Brothers from $120.00 to $148.00 and gave the company a neutral rating in a report on Tuesday, August 27th. Citigroup decreased their price objective on shares of Toll Brothers from $133.00 to $125.00 and set a neutral rating for the company in a report on Tuesday, July 2nd. Finally, Evercore ISI boosted their price target on shares of Toll Brothers from $177.00 to $180.00 and gave the company an outperform rating in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $145.00.

Toll Brothers Price Performance

Toll Brothers stock opened at $150.44 on Thursday. The firm has a 50-day moving average price of $137.63 and a 200-day moving average price of $126.58. The firm has a market capitalization of $15.19 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.23 and a beta of 1.67. 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 has a 12-month low of $68.08 and a 12-month high of $154.62.

Toll Brothers (NYSE:TOL) last released its earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.31 by $0.29. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same quarter last year, the business earned $3.73 EPS. The business’s revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts forecast that Toll Brothers will post 13.31 EPS for the current year.

Toll Brothers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Friday, October 11th. Toll Brothers’s payout ratio is currently 6.28%.

Insider Transactions at Toll Brothers

In other news, CEO Douglas C. Jr. Yearley sold 87,584 shares of Toll Brothers stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $147.49, for a total value of $12,917,764.16. Following the transaction, the chief executive officer now owns 346,382 shares of the company’s stock, valued at approximately $51,087,881.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $147.49, for a total transaction of $12,917,764.16. Following the sale, the chief executive officer now owns 346,382 shares of the company’s stock, valued at approximately $51,087,881.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Martin P. Connor sold 22,673 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was 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. Insiders own 1.54% of the company’s stock.

Institutional Trading of Toll Brothers

Several large investors have recently bought and sold shares of the stock. Fifth Third Bancorp grew its position in Toll Brothers by 11.2% during the 2nd quarter. Fifth Third Bancorp now owns 814 shares of the construction company’s stock worth $94,000 after purchasing an additional 82 shares during the last quarter. Clifford Swan Investment Counsel LLC lifted its stake in Toll Brothers by 5.1% during the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 1,839 shares of the construction company’s stock valued at $212,000 after acquiring an additional 89 shares during the period. J.Safra Asset Management Corp lifted its stake in Toll Brothers by 21.5% during the 2nd quarter. J.Safra Asset Management Corp now owns 509 shares of the construction company’s stock valued at $59,000 after acquiring an additional 90 shares during the period. Diversified Trust Co lifted its stake in Toll Brothers by 1.7% during the 2nd quarter. Diversified Trust Co now owns 5,926 shares of the construction company’s stock valued at $683,000 after acquiring an additional 100 shares during the period. Finally, Ellis Investment Partners LLC lifted its stake in Toll Brothers by 2.8% during the 2nd quarter. Ellis Investment Partners LLC now owns 3,885 shares of the construction company’s stock valued at $447,000 after acquiring an additional 105 shares during the period. Hedge funds and other institutional investors 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.