Wedbush Cuts Toll Brothers (NYSE:TOL) Price Target to $165.00

Key Points

• Wedbush has lowered its price target for Toll Brothers from $175.00 to $165.00, indicating a potential upside of 31.93% from the stock's previous close.
• The company recently reported quarterly earnings of $3.50 EPS, surpassing analysts' expectations, with revenue of $2.74 billion, although it represents a 3.5% decrease year-over-year.
• Toll Brothers currently has a consensus rating of "Moderate Buy," with one sell rating, five hold ratings, seven buy ratings, and two strong buy ratings among analysts.

Toll Brothers (NYSE:TOL - Get Free Report) had its price objective lowered by equities researchers at Wedbush from $175.00 to $165.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the construction company's stock. Wedbush's target price suggests a potential upside of 31.93% from the stock's previous close.

TOL has been the topic of several other reports. Raymond James Financial reissued a "strong-buy" rating and issued a $130.00 price objective (down from $145.00) on shares of Toll Brothers in a research note on Friday, May 23rd. Wall Street Zen upgraded shares of Toll Brothers from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. UBS Group reaffirmed a "buy" rating on shares of Toll Brothers in a research note on Tuesday, May 20th. Seaport Res Ptn upgraded Toll Brothers from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada cut their price target on Toll Brothers from $139.00 to $133.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $141.46.

Toll Brothers Stock Performance

NYSE TOL opened at $125.07 on Tuesday. The company has a fifty day moving average of $116.47 and a two-hundred day moving average of $111.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.21 and a quick ratio of 0.44. Toll Brothers has a 1 year low of $86.67 and a 1 year high of $169.52. The company has a market capitalization of $12.28 billion, a PE ratio of 9.28, a P/E/G ratio of 1.31 and a beta of 1.33.

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

Insider Activity at Toll Brothers

In other Toll Brothers news, Director Christine Garvey sold 770 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $119.82, for a total transaction of $92,261.40. Following the transaction, the director owned 11,590 shares in the company, valued at $1,388,713.80. The trade was a 6.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Michael J. Grubb sold 500 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $120.00, for a total value of $60,000.00. Following the completion of the sale, the chief accounting officer owned 2,439 shares of the company's stock, valued at approximately $292,680. This trade represents a 17.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,770 shares of company stock worth $440,586. 1.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Greenhaven Associates Inc. boosted its position in Toll Brothers by 0.7% in the 2nd quarter. Greenhaven Associates Inc. now owns 5,601,916 shares of the construction company's stock valued at $639,347,000 after buying an additional 39,334 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Toll Brothers by 21.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,159,289 shares of the construction company's stock valued at $227,988,000 after purchasing an additional 375,372 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Toll Brothers by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,011,618 shares of the construction company's stock worth $229,586,000 after purchasing an additional 78,035 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Toll Brothers by 17.1% in the 1st quarter. AQR Capital Management LLC now owns 1,424,689 shares of the construction company's stock valued at $146,572,000 after purchasing an additional 208,064 shares in the last quarter. Finally, Long Pond Capital LP acquired a new position in shares of Toll Brothers in the 1st quarter valued at approximately $117,870,000. 91.76% of the stock is currently 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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