Toll Brothers (NYSE:TOL) Given New $170.00 Price Target at Wells Fargo & Company

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

Other equities research analysts have also issued reports about the company. Barclays upped their price objective on Toll Brothers from $116.00 to $135.00 and gave the company an underweight rating in a research note on Thursday, August 22nd. Oppenheimer lifted their price objective on Toll Brothers from $157.00 to $168.00 and gave the company an outperform rating in a report on Thursday, August 22nd. Seaport Res Ptn lowered shares of Toll Brothers from a hold rating to a strong sell rating in a report on Sunday, August 4th. Citigroup cut their price target 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, The Goldman Sachs Group raised shares of Toll Brothers from a sell rating to a neutral rating and raised their price objective for the stock from $112.00 to $124.00 in a report on Monday, June 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $145.67.

Toll Brothers Stock Performance

TOL opened at $154.46 on Friday. The stock’s 50 day simple moving average is $139.96 and its 200-day simple moving average is $127.75. The company has a current ratio of 4.52, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38. The stock has a market cap of $15.60 billion, a PE ratio of 10.55, a P/E/G ratio of 1.25 and a beta of 1.67. Toll Brothers has a 1 year low of $68.08 and a 1 year high of $156.00.

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, beating the consensus estimate of $3.31 by $0.29. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.71 billion. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.73 EPS. Sell-side analysts forecast that Toll Brothers will post 13.51 EPS for the current year.

Toll Brothers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders 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 dividend yield of 0.60%. Toll Brothers’s payout ratio is currently 6.28%.

Insider Activity at Toll Brothers

In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 50,000 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $154.51, for a total transaction of $7,725,500.00. Following the completion of the sale, the chief executive officer now directly owns 246,382 shares of the company’s stock, valued at approximately $38,068,482.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the stock in a transaction on Friday, August 23rd. The stock was 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 50,000 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $154.51, for a total value of $7,725,500.00. Following the completion of the transaction, the chief executive officer now owns 246,382 shares in the company, valued at $38,068,482.82. The disclosure for this sale can be found here. Insiders have sold a total of 191,257 shares of company stock worth $28,646,402 over the last 90 days. Insiders own 1.54% of the company’s stock.

Hedge Funds Weigh In On Toll Brothers

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Toll Brothers by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 11,268,164 shares of the construction company’s stock worth $1,158,255,000 after buying an additional 216,849 shares during the period. Greenhaven Associates Inc. boosted its stake in Toll Brothers by 1.0% during the 2nd quarter. Greenhaven Associates Inc. now owns 5,565,787 shares of the construction company’s stock worth $641,067,000 after acquiring an additional 52,893 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Toll Brothers by 34.8% during the second quarter. Pacer Advisors Inc. now owns 2,095,673 shares of the construction company’s stock valued at $241,380,000 after purchasing an additional 541,140 shares during the period. Goldman Sachs Group Inc. increased its stake in Toll Brothers by 1.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,090,802 shares of the construction company’s stock valued at $112,124,000 after purchasing an additional 12,493 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in 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 worth $110,993,000 after purchasing an additional 431,160 shares during the period. 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.