Toll Brothers (NYSE:TOL) Price Target Raised to $170.00

Key Points

• Keefe, Bruyette & Woods raised Toll Brothers’ price target to $170 from $161 while maintaining an “outperform” rating, implying 17.46% upside from the stock’s $144.73 price. Analysts’ consensus is “Moderate Buy,” with an average target of $167.27.
• Toll Brothers exceeded quarterly expectations, reporting $2.97 in adjusted EPS versus $2.93 expected and revenue of $2.66 billion versus $2.62 billion forecast. However, revenue declined 9.7% year over year and EPS fell from $3.73 in the prior-year quarter.
• Insiders recently reduced their holdings through stock sales, while institutional investors own 91.76% of the company. Chairman Douglas Yearley sold shares worth approximately $12.2 million, and COO Robert Parahus sold about $1.1 million of stock.

Toll Brothers (NYSE:TOL - Get Free Report) had its price target raised by equities research analysts at Keefe, Bruyette & Woods from $161.00 to $170.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the construction company's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 17.46% from the stock's current price.

A number of other research firms have also recently weighed in on TOL. Evercore reiterated an "outperform" rating and issued a $191.00 target price on shares of Toll Brothers in a research note on Thursday, August 20th. Argus set a $170.00 target price on shares of Toll Brothers in a research note on Tuesday, June 2nd. Citigroup upped their price target on shares of Toll Brothers from $176.00 to $179.00 and gave the company a "buy" rating in a research note on Friday, August 21st. Oppenheimer cut shares of Toll Brothers from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 9th. Finally, Weiss Ratings upgraded Toll Brothers from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. Fifteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $167.27.

Toll Brothers Stock Down 0.3%

Toll Brothers stock traded down $0.40 during midday trading on Friday, reaching $144.73. The stock had a trading volume of 361,882 shares, compared to its average volume of 1,137,400. Toll Brothers has a 12 month low of $123.14 and a 12 month high of $168.36. The company has a market capitalization of $13.53 billion, a P/E ratio of 11.62, a PEG ratio of 1.21 and a beta of 1.35. The company has a fifty day moving average price of $151.65 and a two-hundred day moving average price of $146.38. The company has a current ratio of 4.53, a quick ratio of 0.55 and a debt-to-equity ratio of 0.32.

Toll Brothers (NYSE:TOL - Get Free Report) last released its quarterly earnings data on Tuesday, August 18th. The construction company reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates of $2.93 by $0.04. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.62 billion. Toll Brothers had a net margin of 11.14% and a return on equity of 14.21%. The business's quarterly revenue was down 9.7% compared to the same quarter last year. During the same period last year, the firm earned $3.73 earnings per share. As a group, equities analysts expect that Toll Brothers will post 12.81 EPS for the current fiscal year.

Insider Transactions at Toll Brothers

In other Toll Brothers news, Chairman Douglas C. Jr. Yearley sold 77,957 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $156.58, for a total transaction of $12,206,507.06. Following the completion of the transaction, the chairman owned 321,256 shares of the company's stock, valued at $50,302,264.48. This represents a 19.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Robert Parahus sold 7,500 shares of Toll Brothers stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $149.66, for a total transaction of $1,122,450.00. Following the completion of the sale, the chief operating officer owned 23,457 shares in the company, valued at approximately $3,510,574.62. This trade represents a 24.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Toll Brothers

Hedge funds have recently bought and sold shares of the business. Amundi increased its position in Toll Brothers by 138.4% during the 2nd quarter. Amundi now owns 174,655 shares of the construction company's stock valued at $28,774,000 after buying an additional 101,405 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Toll Brothers in the second quarter worth $4,515,000. First Eagle Investment Management LLC boosted its holdings in Toll Brothers by 131.6% in the second quarter. First Eagle Investment Management LLC now owns 6,000 shares of the construction company's stock worth $988,000 after purchasing an additional 3,409 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Toll Brothers by 16,116.7% in the second quarter. California State Teachers Retirement System now owns 17,926,118 shares of the construction company's stock worth $2,953,328,000 after purchasing an additional 17,815,577 shares during the period. Finally, Wedmont Private Capital purchased a new stake in shares of Toll Brothers in the second quarter worth $316,000. Institutional investors own 91.76% of the company's stock.

Toll Brothers Company Profile

Toll Brothers, Inc is a publicly traded homebuilding company that focuses on designing and constructing luxury residential properties. The company's core business encompasses a broad range of housing products, including custom single-family homes, upscale condominium communities and rental apartment ventures. Toll Brothers emphasizes high-end finishes and architectural craftsmanship, positioning itself in the premium segment of the U.S. housing market.

In addition to traditional homebuilding, Toll Brothers operates specialized divisions to address evolving consumer preferences.

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