JPMorgan Chase & Co. Cuts Toll Brothers (NYSE:TOL) Price Target to $141.00

Toll Brothers (NYSE:TOL) had its target price decreased by JPMorgan Chase & Co. from $161.00 to $141.00 in a report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the construction company’s stock.

A number of other analysts have also recently issued reports on TOL. Raymond James Financial reissued a “strong-buy” rating and set a $160.00 price objective (up previously from $130.00) on shares of Toll Brothers in a research report on Monday, August 25th. Argus increased their price objective on Toll Brothers from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Royal Bank Of Canada reduced their target price on shares of Toll Brothers from $145.00 to $144.00 and set an “outperform” rating for the company in a research note on Wednesday, December 10th. Barclays increased their price target on shares of Toll Brothers from $92.00 to $110.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, UBS Group reduced their price objective on shares of Toll Brothers from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $150.36.

Toll Brothers Price Performance

NYSE TOL opened at $139.13 on Friday. The company has a 50 day simple moving average of $134.80 and a 200-day simple moving average of $128.72. Toll Brothers has a 52-week low of $86.67 and a 52-week high of $149.79. The firm has a market capitalization of $13.41 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 1.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.38 and a quick ratio of 0.64.

Toll Brothers (NYSE:TOL) last released its quarterly earnings data on Monday, December 8th. The construction company reported $4.58 earnings per share for the quarter, missing the consensus estimate of $4.88 by ($0.30). The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.32 billion. Toll Brothers had a net margin of 12.28% and a return on equity of 16.74%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.63 EPS. Equities research analysts predict that Toll Brothers will post 13.83 earnings per share for the current fiscal year.

Toll Brothers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 10th were paid a $0.25 dividend. The ex-dividend date was Friday, October 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. Toll Brothers’s dividend payout ratio (DPR) is presently 7.37%.

Institutional Investors Weigh In On Toll Brothers

A number of hedge funds have recently bought and sold shares of the company. Greenhaven Associates Inc. increased its stake in shares of Toll Brothers by 0.7% in the second quarter. Greenhaven Associates Inc. now owns 5,601,916 shares of the construction company’s stock worth $639,347,000 after purchasing an additional 39,334 shares during the period. Capital World Investors increased its position in Toll Brothers by 51.5% in the 3rd quarter. Capital World Investors now owns 5,187,673 shares of the construction company’s stock worth $716,625,000 after buying an additional 1,763,211 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Toll Brothers by 1.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,901,015 shares of the construction company’s stock valued at $400,745,000 after acquiring an additional 39,987 shares during the period. AQR Capital Management LLC grew its stake in shares of Toll Brothers by 83.1% in the second quarter. AQR Capital Management LLC now owns 2,607,993 shares of the construction company’s stock worth $297,650,000 after acquiring an additional 1,183,304 shares during the last quarter. Finally, Holocene Advisors LP increased its position in Toll Brothers by 78.0% during the third quarter. Holocene Advisors LP now owns 2,224,289 shares of the construction company’s stock worth $307,263,000 after acquiring an additional 974,567 shares during the period. 91.76% of the stock is currently owned by institutional investors.

About Toll Brothers

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.