Toll Brothers (NYSE:TOL) Price Target Raised to $82.00 at Wedbush

Posted by Defense World Staff on Aug 25th, 2023

Toll Brothers (NYSE:TOL – Free Report) had its price target hoisted by Wedbush from $73.00 to $82.00 in a report published on Thursday, MarketBeat.com reports. They currently have a neutral rating on the construction company’s stock. Wedbush also issued estimates for Toll Brothers’ Q4 2023 earnings at $3.70 EPS, Q1 2024 earnings at $1.91 EPS, Q3 2024 earnings at $3.47 EPS, Q4 2024 earnings at $3.81 EPS and FY2024 earnings at $12.32 EPS.

Other research analysts have also recently issued reports about the company. Citigroup increased their price target on Toll Brothers from $72.00 to $85.00 in a research note on Wednesday, July 5th. Barclays boosted their price objective on shares of Toll Brothers from $73.00 to $81.00 and gave the stock an underweight rating in a research note on Thursday. StockNews.com assumed coverage on Toll Brothers in a research report on Thursday, August 17th. They set a buy rating for the company. The Goldman Sachs Group upped their price target on Toll Brothers from $70.00 to $75.00 and gave the company a sell rating in a research report on Wednesday. Finally, Oppenheimer raised their price objective on Toll Brothers from $99.00 to $110.00 and gave the stock an outperform rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $87.31.

Get Our Latest Stock Report on Toll Brothers

Toll Brothers Stock Performance

Toll Brothers stock opened at $78.07 on Thursday. The company has a quick ratio of 0.71, a current ratio of 5.00 and a debt-to-equity ratio of 0.42. The stock has a market cap of $8.54 billion, a PE ratio of 5.61, a P/E/G ratio of 0.67 and a beta of 1.42. Toll Brothers has a 12-month low of $39.53 and a 12-month high of $83.72. The business’s 50-day moving average price is $78.81 and its two-hundred day moving average price is $68.08.

Toll Brothers (NYSE:TOL – Get Free Report) last announced its quarterly earnings results on Wednesday, August 23rd. The construction company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.88. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.40 billion. Toll Brothers had a net margin of 14.66% and a return on equity of 22.97%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.35 EPS. As a group, analysts expect that Toll Brothers will post 10.67 earnings per share for the current fiscal year.

Toll Brothers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Thursday, July 6th. Toll Brothers’s dividend payout ratio is currently 6.04%.

Insider Buying and Selling at Toll Brothers

In related news, Director Carl B. Marbach sold 2,000 shares of Toll Brothers stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $78.42, for a total transaction of $156,840.00. Following the transaction, the director now owns 51,066 shares of the company’s stock, valued at $4,004,595.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Toll Brothers news, Director Carl B. Marbach sold 2,000 shares of Toll Brothers stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $78.42, for a total value of $156,840.00. Following the sale, the director now owns 51,066 shares of the company’s stock, valued at $4,004,595.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas C. Jr. Yearley sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $81.90, for a total transaction of $4,095,000.00. Following the completion of the sale, the chief executive officer now directly owns 246,547 shares in the company, valued at approximately $20,192,199.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 212,721 shares of company stock worth $15,964,889. 1.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Toll Brothers

A number of institutional investors have recently made changes to their positions in the business. Financial Management Professionals Inc. increased its position in shares of Toll Brothers by 4,010.0% in the second quarter. Financial Management Professionals Inc. now owns 411 shares of the construction company’s stock valued at $32,000 after acquiring an additional 401 shares during the period. First Capital Advisors Group LLC. purchased a new stake in Toll Brothers in the second quarter worth $36,000. Raleigh Capital Management Inc. lifted its position in Toll Brothers by 491.3% during the first quarter. Raleigh Capital Management Inc. now owns 473 shares of the construction company’s stock valued at $28,000 after buying an additional 393 shares during the period. Ellevest Inc. boosted its holdings in shares of Toll Brothers by 102.5% during the 1st quarter. Ellevest Inc. now owns 478 shares of the construction company’s stock valued at $29,000 after buying an additional 242 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Toll Brothers in the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 91.89% of the company’s stock.

About Toll Brothers

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Toll Brothers, Inc engages in the design, building, marketing, and arranging of financing for detached and attached homes in residential communities. It operates through the following segments: Traditional Home Building and City Living. The Traditional Home Building segment builds and sells homes for detached and attached homes in luxury residential communities in affluent suburban markets and caters to move-up, empty-nester, active-adult, age-qualified, and second-home buyers.