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

Toll Brothers (NYSE:TOL) had its price target lifted by research analysts at Bank of America from $160.00 to $165.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Bank of America‘s price target would suggest a potential upside of 9.69% from the company’s current price.

Several other research analysts have also recently weighed in on TOL. The Goldman Sachs Group upgraded Toll Brothers from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $112.00 to $124.00 in a research report on Monday, June 17th. Royal Bank of Canada lifted their price objective on shares of Toll Brothers from $130.00 to $143.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Seaport Res Ptn cut shares of Toll Brothers from a “hold” rating to a “strong sell” rating in a report on Sunday, August 4th. StockNews.com downgraded shares of Toll Brothers from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company increased their price target on Toll Brothers from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. 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 data from MarketBeat.com, Toll Brothers presently has an average rating of “Moderate Buy” and an average target price of $145.00.

Toll Brothers Stock Performance

NYSE TOL opened at $150.42 on Thursday. Toll Brothers has a 52-week low of $68.08 and a 52-week high of $154.62. The stock has a market cap of $15.19 billion, a PE ratio of 10.27, a P/E/G ratio of 1.23 and a beta of 1.67. The firm has a 50-day moving average of $137.63 and a 200-day moving average of $126.51. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 4.52.

Toll Brothers (NYSE:TOL) last issued its quarterly earnings data 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. The firm had revenue of $2.73 billion during 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 business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $3.73 earnings per share. On average, sell-side analysts anticipate that Toll Brothers will post 13.31 EPS for the current year.

Insider Activity at Toll Brothers

In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $147.49, for a total transaction of $12,917,764.16. Following the completion of the transaction, the chief executive officer now owns 346,382 shares of the company’s stock, valued at $51,087,881.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Martin P. Connor sold 22,673 shares of the firm’s stock in a transaction 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 owns 14,721 shares of the company’s stock, valued at approximately $2,109,224.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 87,584 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 346,382 shares of the company’s stock, valued at approximately $51,087,881.18. The disclosure for this sale can be found here. 1.54% of the stock is currently owned by insiders.

Institutional Trading of Toll Brothers

A number of hedge funds have recently made changes to their positions in the company. Ossiam raised its holdings in Toll Brothers by 122.8% in the 4th quarter. Ossiam now owns 7,547 shares of the construction company’s stock valued at $776,000 after buying an additional 4,159 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Toll Brothers by 36.4% during the first quarter. Oppenheimer & Co. Inc. now owns 31,727 shares of the construction company’s stock valued at $4,105,000 after acquiring an additional 8,474 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Toll Brothers by 46.7% during the first quarter. Private Advisor Group LLC now owns 25,870 shares of the construction company’s stock worth $3,347,000 after purchasing an additional 8,234 shares during the period. Van ECK Associates Corp grew its stake in shares of Toll Brothers by 36.5% in the first quarter. Van ECK Associates Corp now owns 40,465 shares of the construction company’s stock worth $5,235,000 after purchasing an additional 10,823 shares during the last quarter. Finally, TCW Group Inc. increased its holdings in Toll Brothers by 27.9% in the second quarter. TCW Group Inc. now owns 75,646 shares of the construction company’s stock valued at $8,713,000 after purchasing an additional 16,503 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.