Wells Fargo & Company Cuts Toll Brothers (NYSE:TOL) Price Target to $150.00

Toll Brothers (NYSE:TOL) had its price objective lowered by stock analysts at Wells Fargo & Company from $170.00 to $150.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 30.57% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods downgraded shares of Toll Brothers from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $168.00 to $164.00 in a research report on Tuesday, December 10th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $150.00 target price (down from $166.00) on shares of Toll Brothers in a research report on Friday, December 13th. Oppenheimer reissued an “outperform” rating and issued a $189.00 target price on shares of Toll Brothers in a research report on Thursday, December 12th. Royal Bank of Canada downgraded shares of Toll Brothers to an “outperform” rating and set a $142.00 target price on the stock. in a research report on Friday, January 10th. Finally, Seaport Res Ptn upgraded shares of Toll Brothers from a “strong sell” rating to a “hold” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $152.86.

Toll Brothers Stock Performance

Shares of TOL opened at $114.88 on Thursday. The firm’s 50 day moving average is $129.49 and its 200-day moving average is $141.58. The stock has a market capitalization of $11.48 billion, a P/E ratio of 7.91, a P/E/G ratio of 1.05 and a beta of 1.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.92 and a quick ratio of 0.80. Toll Brothers has a 12-month low of $100.47 and a 12-month high of $169.52.

Toll Brothers (NYSE:TOL) last released its earnings results on Tuesday, February 18th. The construction company reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.24). The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Toll Brothers had a return on equity of 18.52% and a net margin of 14.03%. Equities research analysts anticipate that Toll Brothers will post 14.15 EPS for the current fiscal year.

Insider Buying and Selling at Toll Brothers

In other news, Director Christine Garvey sold 204 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $125.78, for a total value of $25,659.12. Following the completion of the sale, the director now directly owns 7,728 shares in the company, valued at approximately $972,027.84. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Martin P. Connor sold 11,140 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $126.07, for a total transaction of $1,404,419.80. Following the completion of the sale, the chief financial officer now owns 20,618 shares of the company’s stock, valued at $2,599,311.26. The trade was a 35.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,202 shares of company stock worth $1,947,436 over the last ninety days. 1.54% of the stock is currently owned by insiders.

Institutional Trading of Toll Brothers

A number of institutional investors and hedge funds have recently modified their holdings of TOL. Norges Bank acquired a new stake in shares of Toll Brothers in the fourth quarter worth $149,924,000. Balyasny Asset Management L.P. increased its position in Toll Brothers by 24,475.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,114,728 shares of the construction company’s stock worth $140,400,000 after acquiring an additional 1,110,192 shares during the period. FMR LLC increased its position in Toll Brothers by 97.7% during the third quarter. FMR LLC now owns 2,118,459 shares of the construction company’s stock worth $327,281,000 after acquiring an additional 1,046,758 shares during the period. D1 Capital Partners L.P. bought a new position in Toll Brothers during the fourth quarter worth $106,428,000. Finally, Westfield Capital Management Co. LP bought a new position in Toll Brothers during the third quarter worth $111,562,000. 91.76% of the stock is currently owned by institutional investors and hedge funds.

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.