Toll Brothers (NYSE:TOL) Shares Gap Down – Here’s What Happened

Toll Brothers, Inc. (NYSE:TOL) gapped down before the market opened on Tuesday . The stock had previously closed at $150.68, but opened at $140.72. Toll Brothers shares last traded at $140.65, with a volume of 350,685 shares.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of Toll Brothers from $177.00 to $180.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Wells Fargo & Company increased their price objective on shares of Toll Brothers from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Citigroup dropped their price target on Toll Brothers from $133.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Oppenheimer boosted their price objective on shares of Toll Brothers from $168.00 to $189.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Barclays raised their price target on Toll Brothers from $116.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

Toll Brothers Price Performance

The company’s 50-day simple moving average is $148.26 and its 200-day simple moving average is $131.92. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.52 and a quick ratio of 0.57. The company has a market cap of $14.84 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 1.20 and a beta of 1.66.

Toll Brothers (NYSE:TOL) last issued its quarterly earnings results on Tuesday, August 20th. The construction company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.29. Toll Brothers had a return on equity of 19.82% and a net margin of 14.63%. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the business posted $3.73 earnings per share. Toll Brothers’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts anticipate that Toll Brothers, Inc. will post 13.53 EPS for the current year.

Toll Brothers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.23 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.92 dividend on an annualized basis and a yield of 0.64%. Toll Brothers’s dividend payout ratio (DPR) is 6.28%.

Insider Activity at Toll Brothers

In related news, CFO Martin P. Connor sold 22,673 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $143.28, for a total transaction of $3,248,587.44. Following the sale, the chief financial officer now owns 14,721 shares in the company, valued at $2,109,224.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 25,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $153.05, for a total transaction of $3,826,250.00. Following the completion of the transaction, the chief executive officer now owns 296,382 shares in the company, valued at approximately $45,361,265.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Martin P. Connor sold 22,673 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $143.28, for a total transaction of $3,248,587.44. Following the transaction, the chief financial officer now directly owns 14,721 shares in the company, valued at approximately $2,109,224.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 216,257 shares of company stock valued at $32,602,152. Corporate insiders own 1.54% of the company’s stock.

Institutional Investors Weigh In On Toll Brothers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Park Avenue Securities LLC bought a new stake in shares of Toll Brothers in the 1st quarter worth approximately $226,000. Brookstone Capital Management bought a new position in Toll Brothers during the first quarter valued at approximately $224,000. SteelPeak Wealth LLC acquired a new stake in shares of Toll Brothers in the 1st quarter valued at $294,000. Diversified Trust Co lifted its position in shares of Toll Brothers by 125.6% in the first quarter. Diversified Trust Co now owns 5,826 shares of the construction company’s stock worth $754,000 after buying an additional 3,244 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Toll Brothers by 106.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 20,239 shares of the construction company’s stock worth $2,618,000 after purchasing an additional 10,439 shares during the period. Institutional investors own 91.76% of the company’s stock.

Toll Brothers Company Profile

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.