Toll Brothers (NYSE:TOL) Given New $168.00 Price Target at Citigroup

Key Points

• Citigroup lowered Toll Brothers’ price target from $179 to $168 while maintaining a “buy” rating, implying approximately 25% upside from the stock’s $134.20 price.
• Analyst sentiment remains favorable: 14 analysts rate the stock a Buy, four rate it a Hold and one rates it a Sell, producing a “Moderate Buy” consensus and an average target of $166.67.
• Toll Brothers recently exceeded quarterly earnings and revenue estimates, reporting $2.97 in EPS and $2.66 billion in revenue, although revenue declined 9.7% year over year.

Toll Brothers (NYSE:TOL - Get Free Report) had its price objective reduced by analysts at Citigroup from $179.00 to $168.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. Citigroup's price target suggests a potential upside of 25.18% from the stock's current price.

A number of other equities analysts have also weighed in on the company. Keefe, Bruyette & Woods increased their price target on Toll Brothers from $161.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday, August 28th. Melius Research assumed coverage on Toll Brothers in a report on Tuesday, October 6th. They set a "buy" rating and a $179.00 price objective on the stock. Morgan Stanley started coverage on shares of Toll Brothers in a research note on Thursday, October 1st. They set an "overweight" rating and a $159.00 price objective for the company. Weiss Ratings upgraded shares of Toll Brothers from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, September 29th. Finally, UBS Group raised their target price on shares of Toll Brothers from $187.00 to $195.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Fourteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $166.67.

Toll Brothers Price Performance

Toll Brothers stock traded up $3.79 during mid-day trading on Thursday, hitting $134.20. The company's stock had a trading volume of 471,644 shares, compared to its average volume of 1,124,630. The stock has a market capitalization of $12.37 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.07 and a beta of 1.31. Toll Brothers has a twelve month low of $123.14 and a twelve month high of $168.36. The stock's fifty day moving average price is $140.21 and its two-hundred day moving average price is $143.04. The company has a quick ratio of 0.55, a current ratio of 4.53 and a debt-to-equity ratio of 0.32.

Toll Brothers (NYSE:TOL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 18th. The construction company reported $2.97 EPS for the quarter, beating analysts' consensus estimates of $2.93 by $0.04. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.62 billion. Toll Brothers had a return on equity of 14.21% and a net margin of 11.14%. The company's quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.73 EPS. Research analysts forecast that Toll Brothers will post 12.80 earnings per share for the current year.

Insider Buying and Selling at Toll Brothers

In related news, Director Stephen East sold 800 shares of the company's stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $135.99, for a total transaction of $108,792.00. Following the transaction, the director directly owned 12,642 shares of the company's stock, valued at approximately $1,719,185.58. The trade was a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.37% of the company's stock.

Institutional Investors Weigh In On Toll Brothers

A number of institutional investors have recently bought and sold shares of TOL. PFG Private Wealth Management LLC raised its stake in shares of Toll Brothers by 24.0% in the 3rd quarter. PFG Private Wealth Management LLC now owns 2,856 shares of the construction company's stock valued at $385,000 after acquiring an additional 552 shares in the last quarter. WealthPlan Investment Management LLC boosted its holdings in shares of Toll Brothers by 4.8% during the 3rd quarter. WealthPlan Investment Management LLC now owns 1,689 shares of the construction company's stock worth $228,000 after buying an additional 77 shares during the period. Krilogy Financial LLC boosted its holdings in shares of Toll Brothers by 2.4% during the 3rd quarter. Krilogy Financial LLC now owns 8,041 shares of the construction company's stock worth $1,063,000 after buying an additional 186 shares during the period. NorthCrest Asset Manangement LLC grew its stake in Toll Brothers by 8.2% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 26,038 shares of the construction company's stock valued at $3,511,000 after buying an additional 1,967 shares during the last quarter. Finally, Sacks & Associates LLC acquired a new position in Toll Brothers in the 3rd quarter valued at $1,013,000. 91.76% of the stock is currently owned by institutional investors and hedge funds.

Toll Brothers Company Profile

Toll Brothers, Inc is a U.S. luxury homebuilder that designs, constructs, markets and sells single-family homes, townhomes and condominiums. The company serves move-up, luxury, active-adult and urban buyers, offering homes in a range of architectural styles and price points.

Founded in 1967 by brothers Robert I. Toll and Bruce E. Toll, the company develops residential communities on land it acquires and prepares for construction. Its operations also include related services such as mortgage financing, title and settlement services, and property development through its Toll Brothers Apartment Living and Toll Brothers City Living businesses.

Toll Brothers operates across numerous metropolitan and suburban markets in the United States, with a presence in regions including the Northeast, Mid-Atlantic, Southeast, Texas, the Midwest, Arizona and the West Coast.

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