Wedbush Boosts Toll Brothers Rating, Predicts Positive Trajectory Ahead
Fintel reports that on October 25, 2024, Wedbush upgraded their outlook for Toll Brothers (NYSE:TOL) from Neutral to Outperform.
Analyst Forecast Indicates 7.09% Growth Potential
As of October 22, 2024, the average one-year price target for Toll Brothers is $159.59 per share. The estimates range from a low of $109.08 to a high of $198.45. This average price target indicates a potential increase of 7.09% from the last reported closing price of $149.02 per share.
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Concerning Revenue Projections
The projected annual revenue for Toll Brothers is $8,169 million, reflecting a decline of 22.45%. Additionally, the expected annual non-GAAP EPS stands at 7.49.
Fund Sentiment Analysis
Currently, there are 1,268 funds or institutions reporting positions in Toll Brothers, an increase of 33 owners or 2.67% from the last quarter. The average portfolio weight dedicated to TOL is 0.33%, which is an increase of 1.41%. However, the total shares owned by institutions have decreased by 3.34% in the past three months, totaling 106,476 thousand shares. 
The put/call ratio for TOL is 1.61, indicating a bearish outlook.
Greenhaven Associates holds 5,542 thousand shares, or 5.49% ownership in the company. Recently, they reported a slight decrease of 0.43% from 5,566 thousand shares in their previous filing, but they increased their portfolio allocation in TOL by 19.20% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares has 3,281 thousand shares, representing 3.25% ownership. In their prior filing, they reported owning 3,268 thousand shares, marking an increase of 0.42%, though they reduced their allocation in TOL by 13.06% over the last quarter.
Capital World Investors also holds 3,247 thousand shares, reflecting 3.22% ownership. Their shareholding hasn’t changed, but they have decreased their portfolio allocation in TOL by 12.28% recently.
The IJH – iShares Core S&P Mid-Cap ETF maintains 3,240 thousand shares or 3.21% ownership and has made a slight decrease of 0.21% from their previous holdings. Their allocation in TOL also dropped by 9.05% this past quarter.
Furthermore, NAESX – Vanguard Small-Cap Index Fund Investor Shares owns 2,620 thousand shares, equating to 2.60% ownership. Previously, they held 2,660 thousand shares, down by 1.51%, with a reduction in portfolio allocation by 8.00% recently.
A Brief History on Toll Brothers
Toll Brothers Background Information
(This description is provided by the company.)
Toll Brothers, Inc., a FORTUNE 500 Company, stands as the leading builder of luxury homes in the U.S. It commenced operations over fifty years ago in 1967 and became a publicly traded entity in 1986. The company caters to various buyers, including first-time, move-up, empty-nester, active-adult, affordable luxury, and second-home buyers, in addition to urban and suburban renters. Operating in 24 states and the District of Columbia, Toll Brothers builds a wide range of luxury residential properties, including detached and attached homes, master-planned communities, and urban condominiums. They also focus on rental apartments and commercial properties through various subsidiaries.
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