Oppenheimer Increases Toll Brothers (NYSE:TOL) Price Target to $189.00

Toll Brothers (NYSE:TOL) had its target price increased by Oppenheimer from $168.00 to $189.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price target points to a potential upside of 24.83% from the stock’s previous close.

TOL has been the topic of a number of other reports. Barclays lifted their price target on shares of Toll Brothers from $116.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, August 22nd. Seaport Res Ptn lowered shares of Toll Brothers from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 4th. Citigroup lowered their price target on shares of Toll Brothers from $133.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $142.00 price target on shares of Toll Brothers in a research note on Wednesday, August 21st. Finally, Argus boosted their target price on shares of Toll Brothers from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Toll Brothers currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.07.

Toll Brothers Stock Performance

TOL traded down $3.35 on Wednesday, hitting $151.40. 64,270 shares of the stock traded hands, compared to its average volume of 1,412,372. Toll Brothers has a 52 week low of $68.08 and a 52 week high of $156.08. The firm has a market capitalization of $15.54 billion, a PE ratio of 10.46, a P/E/G ratio of 1.25 and a beta of 1.67. The business has a fifty day moving average price of $140.75 and a two-hundred day moving average price of $128.25. The company has a current ratio of 4.52, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38.

Toll Brothers (NYSE:TOL) last announced its earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.29. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter last year, the company posted $3.73 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts predict that Toll Brothers will post 13.51 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Toll Brothers

A number of institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. grew its position in Toll Brothers by 34.8% in the second 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 during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Toll Brothers by 81.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 963,650 shares of the construction company’s stock valued at $110,993,000 after purchasing an additional 431,160 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Toll Brothers by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 11,268,164 shares of the construction company’s stock valued at $1,158,255,000 after purchasing an additional 216,849 shares during the last quarter. Anchor Capital Advisors LLC bought a new stake in shares of Toll Brothers during the 2nd quarter valued at approximately $17,740,000. Finally, Marsico Capital Management LLC increased its position in Toll Brothers by 24.5% during the 2nd quarter. Marsico Capital Management LLC now owns 755,190 shares of the construction company’s stock worth $86,983,000 after purchasing an additional 148,562 shares in the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.

About Toll Brothers

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.