Toll Brothers Analysts Boost Their Forecasts After Strong Q3 Results

Toll Brothers TOL reported strong third-quarter results and raised its guidance.

Toll Brothers reported third-quarter revenue of $2.69 billion, which beat the consensus estimate of $2.41 billion. The luxury homebuilder reported quarterly earnings of $3.73 per share, which beat analyst estimates of $2.81 per share.

Toll Brothers expects to deliver between 2,650 and 2,750 units in the fourth quarter, up from 2,524 in the third quarter.

Toll Brothers shares gained 3.9% to close at $78.85 on Wednesday.

These analysts made changes to their price targets on Toll Brothers following earnings announcement.

• Goldman Sachs increased the price target on Toll Brothers from $70 to $75. Goldman Sachs analyst Susan Maklari maintained a Sell rating.
• Deutsche Bank raised the price target on Toll Brothers from $94 to $96. Deutsche Bank analyst Joe Ahlersmeyer maintained a Buy rating.
• Barclays boosted the price target on Toll Brothers from $73 to $81. Barclays analyst Matthew Bouley maintained an Underweight rating.
• Raymond James increased the price target on Toll Brothers from $100 to $110. Raymond James analyst Buck Horne maintained a Strong Buy rating.
• Oppenheimer boosted the price target on Toll Brothers from $99 to $110. Oppenheimer analyst Tyler Batory maintained an Outperform rating.
• Wedbush boosted the price target on Toll Brothers from $73 to $82. Wedbush analyst Jay McCanless maintained a Neutral rating.

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