Citigroup Inc. Raises Toll Brothers Inc. (TOL) Price Target to $40.00

Toll Brothers Inc. (NYSE:TOL) had its price objective boosted by Citigroup Inc. from $35.00 to $40.00 in a research report sent to investors on Thursday, May 25th. The brokerage currently has a buy rating on the construction company’s stock.

Several other brokerages have also recently issued reports on TOL. Bank of America Corporation reissued a buy rating and issued a $43.00 price objective (up previously from $40.00) on shares of Toll Brothers in a report on Wednesday, May 24th. Wedbush set a $32.00 target price on Toll Brothers and gave the company a hold rating in a report on Wednesday, February 22nd. Zacks Investment Research raised Toll Brothers from a hold rating to a buy rating and set a $35.00 target price for the company in a report on Tuesday, February 7th. Mizuho initiated coverage on Toll Brothers in a research report on Tuesday, May 16th. They issued a buy rating and a $44.00 price target for the company. Finally, Royal Bank Of Canada restated a buy rating and issued a $43.00 price target on shares of Toll Brothers in a research report on Monday, May 22nd. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $38.17.

Shares of Toll Brothers (TOL) traded up 0.70% during mid-day trading on Thursday, hitting $39.02. 2,672,239 shares of the stock traded hands. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 16.09 and a beta of 1.56. The firm’s 50-day moving average is $37.53 and its 200-day moving average is $34.54. Toll Brothers has a 52 week low of $25.29 and a 52 week high of $39.75.

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

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.82%. Toll Brothers’s dividend payout ratio is presently 13.17%.

In related news, insider Robert I. Toll sold 1,967 shares of Toll Brothers stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $38.00, for a total transaction of $74,746.00. Following the completion of the transaction, the insider now directly owns 7,420,317 shares in the company, valued at approximately $281,972,046. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Richard T. Hartman sold 7,836 shares of the business’s stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $37.00, for a total value of $289,932.00. Following the completion of the transaction, the president now owns 31,770 shares of the company’s stock, valued at $1,175,490. The disclosure for this sale can be found here. Insiders sold a total of 407,172 shares of company stock worth $15,546,645 in the last ninety days. 8.78% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Toll Brothers by 7,882.3% in the first quarter. BlackRock Inc. now owns 16,520,268 shares of the construction company’s stock worth $596,546,000 after buying an additional 16,313,307 shares during the period. FMR LLC raised its stake in shares of Toll Brothers by 34.9% in the first quarter. FMR LLC now owns 7,975,533 shares of the construction company’s stock worth $287,997,000 after buying an additional 2,065,250 shares during the period. Capital Growth Management LP raised its stake in shares of Toll Brothers by 110.7% in the first quarter. Capital Growth Management LP now owns 2,950,000 shares of the construction company’s stock worth $106,524,000 after buying an additional 1,550,000 shares during the period. Norges Bank acquired a new stake in Toll Brothers during the fourth quarter valued at $47,099,000. Finally, Systematic Financial Management LP acquired a new stake in Toll Brothers during the first quarter valued at $46,928,000. Hedge funds and other institutional investors own 80.15% of the company’s stock.

Toll Brothers Company Profile

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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