Toll Brothers (NYSE:TOL) Lifted to “Buy” at Truist

Truist upgraded shares of Toll Brothers (NYSE:TOL) from a hold rating to a buy rating in a research note published on Thursday, The Fly reports. The brokerage currently has $60.00 target price on the construction company’s stock, up from their prior target price of $45.00.

Other research analysts have also issued research reports about the stock. TheStreet upgraded shares of Toll Brothers from a c+ rating to a b- rating in a report on Monday, September 28th. Raymond James raised shares of Toll Brothers from a market perform rating to an outperform rating and set a $55.00 price objective for the company in a report on Monday, October 26th. Barclays lifted their price objective on shares of Toll Brothers from $43.00 to $45.00 and gave the stock an underweight rating in a report on Tuesday, September 22nd. They noted that the move was a valuation call. Wedbush lifted their price objective on shares of Toll Brothers from $45.00 to $53.00 and gave the stock an outperform rating in a report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Toll Brothers from $36.50 to $50.00 and gave the stock an underweight rating in a report on Thursday, October 8th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Toll Brothers currently has a consensus rating of Hold and an average price target of $43.82.

NYSE:TOL opened at $47.07 on Thursday. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 4.25 and a beta of 1.65. The company has a current ratio of 6.34, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82. The company’s 50-day moving average is $46.75 and its two-hundred day moving average is $38.85. Toll Brothers has a 12-month low of $13.28 and a 12-month high of $50.42.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, August 25th. The construction company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.21. Toll Brothers had a net margin of 6.51% and a return on equity of 9.38%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm posted $1.00 EPS. The company’s revenue was down 6.6% on a year-over-year basis. On average, equities research analysts forecast that Toll Brothers will post 3.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 9th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Thursday, October 8th. Toll Brothers’s payout ratio is currently 10.92%.

In related news, CFO Martin P. Connor sold 10,000 shares of Toll Brothers stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $48.03, for a total value of $480,300.00. Following the transaction, the chief financial officer now owns 50,169 shares of the company’s stock, valued at approximately $2,409,617.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert Parahus sold 3,500 shares of Toll Brothers stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $48.30, for a total value of $169,050.00. Following the completion of the transaction, the chief operating officer now directly owns 7,317 shares in the company, valued at approximately $353,411.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 372,458 shares of company stock worth $16,646,792. 10.94% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Huntington National Bank increased its stake in Toll Brothers by 46.3% in the 3rd quarter. Huntington National Bank now owns 736 shares of the construction company’s stock worth $36,000 after purchasing an additional 233 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Toll Brothers by 83.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 737 shares of the construction company’s stock valued at $36,000 after acquiring an additional 335 shares in the last quarter. Glenmede Trust Co. NA grew its stake in Toll Brothers by 20.6% during the 2nd quarter. Glenmede Trust Co. NA now owns 2,015 shares of the construction company’s stock valued at $65,000 after acquiring an additional 344 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Toll Brothers by 166.7% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 800 shares of the construction company’s stock valued at $39,000 after acquiring an additional 500 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in Toll Brothers by 8.4% during the 3rd quarter. Private Advisor Group LLC now owns 7,287 shares of the construction company’s stock valued at $355,000 after acquiring an additional 562 shares in the last quarter. 82.26% 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 detached and attached homes in luxury residential communities in the United States. The company operates in two segments, Traditional Home Building and City Living. It also designs, builds, markets, and sells homes in urban infill markets through Toll Brothers City Living.

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