The Toll Brothers Inc. (TOL) Upgrade at The Zacks Investment Research

The Toll Brothers Inc. (TOL) Upgrade at The Zacks Investment Research

Zacks Investment Research upgraded shares of Toll Brothers Inc. (NYSE:TOL) from a hold rating to a buy rating in a research report released on Tuesday morning. The brokerage currently has $32.00 target price on the stock.

According to Zacks, “Toll Brothers’ revenue is expected to increase in the near term, owing to strong housing demand. Positives like an improving economy, modest wage growth, low unemployment levels, low interest rates, positive consumer confidence and a tight supply situation raise optimism about the sector’s performance for the second half. Margins remained strong owing to lower expenses and strong revenues. However, a shortage of buildable lots, rising labor, land and materials costs is a matter of concern.”

Several other research firms have also recently weighed in on TOL. Keefe, Bruyette & Woods raised their target price on shares of Toll Brothers from $34.00 to $35.00 and gave the company a market perform rating in a research note on Wednesday, August 24th. Buckingham Research raised their target price on shares of Toll Brothers from $35.00 to $36.00 and gave the company a buy rating in a research note on Wednesday, August 24th. Royal Bank Of Canada raised their target price on shares of Toll Brothers from $32.00 to $35.00 and gave the company a sector perform rating in a research note on Wednesday, August 24th. Citigroup Inc. raised their target price on shares of Toll Brothers from $31.00 to $33.00 and gave the company a neutral rating in a research note on Wednesday, August 24th. Finally, RBC Capital Markets reaffirmed a sector perform rating and set a $35.00 target price (up from $32.00) on shares of Toll Brothers in a research note on Thursday, August 25th. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $36.41.

Toll Brothers (NYSE:TOL) opened at 27.41 on Tuesday. The stock’s 50 day moving average is $29.01 and its 200 day moving average is $28.50. Toll Brothers has a 52 week low of $23.75 and a 52 week high of $38.15. The company has a market capitalization of $4.50 billion, a P/E ratio of 11.80 and a beta of 1.32.

Toll Brothers (NYSE:TOL) last posted its earnings results on Tuesday, August 23rd. The company reported $0.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The company earned $1.27 billion during the quarter. Toll Brothers had a net margin of 8.73% and a return on equity of 9.98%. The business’s revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 earnings per share. On average, equities research analysts expect that Toll Brothers will post $2.50 earnings per share for the current year.

In other news, President Richard T. Hartman sold 18,310 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $31.02, for a total value of $567,976.20. Following the completion of the sale, the president now owns 47,937 shares in the company, valued at approximately $1,487,005.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.51% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in TOL. Janney Montgomery Scott LLC raised its stake in Toll Brothers by 1.0% in the second quarter. Janney Montgomery Scott LLC now owns 8,055 shares of the company’s stock valued at $217,000 after buying an additional 76 shares during the period. Taylor Frigon Capital Management LLC raised its stake in Toll Brothers by 0.3% in the second quarter. Taylor Frigon Capital Management LLC now owns 36,918 shares of the company’s stock valued at $993,000 after buying an additional 128 shares during the period. CIBC Asset Management Inc raised its stake in Toll Brothers by 1.9% in the second quarter. CIBC Asset Management Inc now owns 12,462 shares of the company’s stock valued at $335,000 after buying an additional 227 shares during the period. Mount Vernon Associates Inc. MD raised its stake in Toll Brothers by 0.9% in the third quarter. Mount Vernon Associates Inc. MD now owns 33,620 shares of the company’s stock valued at $1,004,000 after buying an additional 300 shares during the period. Finally, Redmond Asset Management LLC raised its stake in Toll Brothers by 0.8% in the second quarter. Redmond Asset Management LLC now owns 43,897 shares of the company’s stock valued at $1,181,000 after buying an additional 329 shares during the period. Hedge funds and other institutional investors own 77.65% of the company’s stock.

Toll Brothers Company Profile

Toll Brothers, Inc designs, builds, markets and arranges financing for detached and attached homes in luxury residential communities. The Company caters to move-up, empty nester, active-adult, age-qualified and second-home buyers in the United States (Traditional Home Building Product). The Company operates in two segments: traditional home building and urban infill.

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