Toll Brothers (NYSE:TOL) Shares Gap Up - Here's What Happened

Toll Brothers Inc. (NYSE:TOL - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $116.65, but opened at $121.65. Toll Brothers shares last traded at $123.10, with a volume of 363,862 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TOL shares. Barclays restated an "underweight" rating on shares of Toll Brothers in a research report on Tuesday, May 20th. Royal Bank Of Canada decreased their target price on Toll Brothers from $139.00 to $133.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Evercore ISI reiterated an "outperform" rating and set a $169.00 price objective (up previously from $167.00) on shares of Toll Brothers in a research report on Thursday, May 22nd. Wall Street Zen upgraded Toll Brothers from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $130.00 price objective (down previously from $145.00) on shares of Toll Brothers in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $141.85.

Toll Brothers Price Performance

The company has a quick ratio of 0.44, a current ratio of 4.21 and a debt-to-equity ratio of 0.35. The company has a market cap of $12.27 billion, a PE ratio of 9.28, a P/E/G ratio of 1.22 and a beta of 1.36. The stock has a 50-day simple moving average of $110.71 and a 200 day simple moving average of $112.21.

Toll Brothers (NYSE:TOL - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The construction company reported $3.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.86 by $0.64. Toll Brothers had a return on equity of 17.87% and a net margin of 12.95%. The business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the firm posted $3.38 earnings per share. The company's revenue was down 3.5% on a year-over-year basis. Equities analysts expect that Toll Brothers Inc. will post 13.83 EPS for the current year.

Toll Brothers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.00 annualized dividend and a yield of 0.80%. Toll Brothers's payout ratio is 7.42%.

Insider Buying and Selling

In other news, Director Stephen F. East sold 2,500 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $115.33, for a total transaction of $288,325.00. Following the completion of the transaction, the director directly owned 12,787 shares of the company's stock, valued at approximately $1,474,724.71. This represents a 16.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christine Garvey sold 770 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $119.82, for a total value of $92,261.40. Following the transaction, the director directly owned 11,590 shares of the company's stock, valued at approximately $1,388,713.80. This represents a 6.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,770 shares of company stock valued at $440,586 in the last three months. 1.54% of the stock is owned by corporate insiders.

Institutional Trading of Toll Brothers

Institutional investors and hedge funds have recently made changes to their positions in the company. Sound Income Strategies LLC raised its stake in Toll Brothers by 84.2% during the 1st quarter. Sound Income Strategies LLC now owns 245 shares of the construction company's stock valued at $26,000 after acquiring an additional 112 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in Toll Brothers during the 4th quarter valued at approximately $27,000. Brooklyn Investment Group raised its stake in shares of Toll Brothers by 52.8% during the 1st quarter. Brooklyn Investment Group now owns 272 shares of the construction company's stock worth $29,000 after buying an additional 94 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Toll Brothers by 152.6% during the 1st quarter. Larson Financial Group LLC now owns 293 shares of the construction company's stock worth $31,000 after buying an additional 177 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Toll Brothers by 128.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 324 shares of the construction company's stock worth $37,000 after buying an additional 182 shares in the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.

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.

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