Toll Brothers Inc. (TOL) Raised to “Buy” at Zacks Investment Research

Toll Brothers Inc. (NYSE:TOL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, August 8th. The firm presently has a $44.00 price objective on the construction company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.33% from the stock’s current price.

According to Zacks, “Toll Brothers’ shares have outperformed the industry in the last one year. Strong housing demand and lack of competition in the luxury new home market is expected to drive Toll Brothers’ revenues. Also, the 2017 outlook for the U.S. homebuilding industry is quite compelling given the affordable interest rates and tight inventory indicating pent-up demand. However, we are concerned about the escalating building material and labor costs that are proving to be a drag on margins.”

Several other analysts have also recently issued reports on TOL. Keefe, Bruyette & Woods reissued a “hold” rating and set a $37.00 price objective on shares of Toll Brothers in a research note on Monday, April 10th. Royal Bank Of Canada raised shares of Toll Brothers from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $37.00 to $43.00 in a research report on Tuesday, April 11th. Mizuho started coverage on shares of Toll Brothers in a research report on Tuesday, May 16th. They set a “buy” rating and a $44.00 price target for the company. Zelman & Associates raised shares of Toll Brothers from a “hold” rating to a “buy” rating in a research report on Wednesday, May 17th. Finally, Wedbush set a $37.00 price target on shares of Toll Brothers and gave the stock a “hold” rating in a research report on Friday, May 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $39.67.

Shares of Toll Brothers (TOL) traded down 1.24% on Tuesday, reaching $38.15. The company had a trading volume of 2,154,876 shares. The firm has a 50-day moving average price of $39.44 and a 200 day moving average price of $36.86. Toll Brothers has a 1-year low of $26.65 and a 1-year high of $41.07. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 15.73 and a beta of 1.52.

Toll Brothers (NYSE:TOL) last announced its quarterly earnings data on Tuesday, May 23rd. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.10. Toll Brothers had a net margin of 7.67% and a return on equity of 9.71%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company earned $0.51 EPS. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities research analysts predict that Toll Brothers will post $3.15 earnings per share for the current year.

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In other Toll Brothers news, insider Robert I. Toll sold 273,033 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $38.00, for a total value of $10,375,254.00. Following the completion of the transaction, the insider now owns 7,420,317 shares in the company, valued at approximately $281,972,046. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas C. Jr. Yearley sold 10,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $38.50, for a total transaction of $385,000.00. Following the completion of the transaction, the chief executive officer now owns 186,372 shares of the company’s stock, valued at approximately $7,175,322. The disclosure for this sale can be found here. In the last quarter, insiders have sold 403,533 shares of company stock worth $15,456,475. 8.78% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Teachers Advisors LLC boosted its position in Toll Brothers by 3.9% in the fourth quarter. Teachers Advisors LLC now owns 155,082 shares of the construction company’s stock valued at $4,808,000 after buying an additional 5,830 shares during the period. Macquarie Group Ltd. boosted its position in Toll Brothers by 17.9% in the fourth quarter. Macquarie Group Ltd. now owns 3,300 shares of the construction company’s stock valued at $102,000 after buying an additional 500 shares during the period. Charter Trust Co. boosted its position in Toll Brothers by 1.4% in the first quarter. Charter Trust Co. now owns 7,324 shares of the construction company’s stock valued at $264,000 after buying an additional 100 shares during the period. Gulf International Bank UK Ltd boosted its position in Toll Brothers by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 50,244 shares of the construction company’s stock valued at $1,814,000 after buying an additional 525 shares during the period. Finally, Bank of Montreal Can boosted its position in Toll Brothers by 6.8% in the first quarter. Bank of Montreal Can now owns 273,393 shares of the construction company’s stock valued at $9,872,000 after buying an additional 17,330 shares during the period. Hedge funds and other institutional investors own 80.32% of the company’s stock.

About Toll Brothers

Toll Brothers, Inc is engaged in designing, building, marketing, selling and arranging financing for detached and attached homes in luxury residential communities. The Company operates through two segments: Traditional Home Building and Toll Brothers City Living (City Living). Within the Traditional Home Building segment, it operates in five geographic segments in the United States: the North, consisting of Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York; the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania and Virginia; the South, consisting of Florida, North Carolina and Texas; the West, consisting of Arizona, Colorado, Nevada and Washington, and California.

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