Monday, 18 December, 2017

Toll Brothers profit, revenue jump on higher demand

REUTERS  Mike Blake REUTERS Mike Blake
Laurie Berry | 06 December, 2017, 09:27

UBS assumed coverage on shares of Toll Brothers in a research note on Wednesday, October 25th. They set a "buy" rating and a $50.00 target price on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a "hold" rating and issued a $47.00 price objective on shares of Toll Brothers in a research note on Friday, October 20th. Analysts giving shares a rating of 1 or 2 would be indicating a Buy. The current consensus recommendation provided by covering analysts is 2.00. KeyCorp raised shares of Toll Brothers from a "sector weight" rating to an "overweight" rating and increased their price target for the company from $44.55 to $52.00 in a report on Thursday, November 2nd. Since the open, shares have moved 3.78% after recently hitting the $0.17 mark. This recommendation lands on a scale between 1 and 5.

The stock has a market cap of $7.98B and the number of outstanding shares has been calculated 157.50M. Toll Brothers Inc has a fifty-two week low of $30.44 and a fifty-two week high of $51.08. The company shares sank -0.57% from their peak of $50.95 and now has a $7.98 billion market value of equity.

The company's net income rose to $191.9 million, or $1.17 per share, in the quarter, from $114.4 million, or 67 cents per share, a year earlier.

To predict where a stock's price is heading analysts typically look at technical indicators, which apply formulas to pricing data gathered over a period of time.

Revenue rose 9.3 percent to $2.03 billion. Toll Brothers, Inc.'s stock price now sits at $47.96.

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In other news, President Richard T. Hartman sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 14th.

Meanwhile, Toll's quarterly profit and revenue missed analysts' expectations on Tuesday as it sold homes at prices lower than its own estimates, sending the company's shares down 8 percent in morning trading. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The 14-day Average Directional Index (ADX), which measures the strength of a trend, is at 21.571 - indicating a Sell. Institutional owners hold 36.70% stake in the company, while insiders ownership held at 40.76%. The disclosure for this sale can be found here.

Several institutional investors and hedge funds have recently modified their holdings of the business. World Asset Management Inc increased its stake in shares of Toll Brothers by 1.8% during the second quarter. Most company stocks have very little volatility.

Let's take an assessment at how Toll Brothers, Inc. Insiders have sold a total of 64,687 shares of company stock valued at $2,840,390 over the last ninety days. FMR LLC increased its position in shares of Toll Brothers by 13.4% during the 2nd quarter. Victory Capital Management Inc.'s holdings in Toll Brothers were worth $1,873,000 as of its most recent filing with the Securities and Exchange Commission. Canada Pension Plan Investment Board now owns 253,200 shares of the construction company's stock worth $10,500,000 after purchasing an additional 35,200 shares during the period. Wall Street experts also assign a $81.93 price target on Omnicom Group Inc., pointing towards a 9.68% rally from current levels.

US luxury homebuilder Toll Brothers said on Tuesday it had not seen a potential change in buyers' behavior on the back of a looming USA tax reform and that it is encouraged by the potential cut in corporate tax rates. If you are accessing this news story on another publication, it was illegally copied and republished in violation of USA and worldwide trademark & copyright laws. The Company operates through two segments: Traditional Home Building and Toll Brothers City Living (City Living).

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