Wells Fargo & Company Increases Toll Brothers (NYSE:TOL) Price Target to $170.00

by · The Markets Daily

Toll Brothers (NYSE:TOL – Get Free Report) had its target price hoisted by equities researchers at Wells Fargo & Company from $163.00 to $170.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 9.43% from the stock’s previous close.

Several other analysts have also recently commented on TOL. Wedbush raised their price objective on shares of Toll Brothers from $120.00 to $148.00 and gave the company a “neutral” rating in a research note on Tuesday, August 27th. Barclays boosted their price target on Toll Brothers from $116.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Argus raised their price objective on Toll Brothers from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Citigroup decreased their target price on Toll Brothers from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Finally, Evercore ISI raised their price target on Toll Brothers from $177.00 to $180.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.67.

Check Out Our Latest Analysis on Toll Brothers

Toll Brothers Price Performance

Shares of NYSE:TOL opened at $155.35 on Friday. Toll Brothers has a 52 week low of $68.08 and a 52 week high of $156.00. The company has a 50-day moving average price of $139.96 and a 200 day moving average price of $127.68. The company has a market cap of $15.69 billion, a P/E ratio of 10.61, a PEG ratio of 1.24 and a beta of 1.67. The company has a quick ratio of 0.57, a current ratio of 4.52 and a debt-to-equity ratio of 0.38.

Toll Brothers (NYSE:TOL – Get Free Report) last posted its quarterly earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.29. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. Toll Brothers had a return on equity of 19.82% and a net margin of 14.63%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.73 earnings per share. Research analysts predict that Toll Brothers will post 13.51 earnings per share for the current year.

Insider Activity

In related news, Director John A. Mclean sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $151.10, for a total value of $151,100.00. Following the sale, the director now directly owns 9,944 shares of the company’s stock, valued at $1,502,538.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Martin P. Connor sold 5,000 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $155.44, for a total transaction of $777,200.00. Following the completion of the sale, the chief financial officer now directly owns 9,721 shares in the company, valued at approximately $1,511,032.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John A. Mclean sold 1,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $151.10, for a total value of $151,100.00. Following the completion of the transaction, the director now directly owns 9,944 shares in the company, valued at $1,502,538.40. The disclosure for this sale can be found here. Insiders sold a total of 191,257 shares of company stock valued at $28,646,402 in the last 90 days. 1.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Toll Brothers

Several institutional investors and hedge funds have recently added to or reduced their stakes in TOL. Vanguard Group Inc. increased its position in Toll Brothers by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 11,268,164 shares of the construction company’s stock worth $1,158,255,000 after purchasing an additional 216,849 shares in the last quarter. Greenhaven Associates Inc. increased its position in shares of Toll Brothers by 1.0% in the second quarter. Greenhaven Associates Inc. now owns 5,565,787 shares of the construction company’s stock worth $641,067,000 after acquiring an additional 52,893 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Toll Brothers by 34.8% during the 2nd quarter. Pacer Advisors Inc. now owns 2,095,673 shares of the construction company’s stock valued at $241,380,000 after acquiring an additional 541,140 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Toll Brothers by 1.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,090,802 shares of the construction company’s stock worth $112,124,000 after acquiring an additional 12,493 shares during the period. Finally, Point72 Asset Management L.P. grew its position in Toll Brothers by 81.0% in the second quarter. Point72 Asset Management L.P. now owns 963,650 shares of the construction company’s stock valued at $110,993,000 after acquiring an additional 431,160 shares in the last quarter. 91.76% of the stock is currently owned by institutional investors and hedge funds.

About Toll Brothers

(Get Free Report)

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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