Analyst Anthony Pettinari of Citi maintained a Hold rating on Toll Brothers, boosting the price target to $134.00.
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Anthony Pettinari has given his Hold rating due to a combination of factors. Despite Toll Brothers exceeding expectations in their third-quarter revenue, earnings before tax, and earnings per share, there were some areas of concern. The company reported lower-than-expected net orders and an increase in cancellation rates, which could indicate potential challenges in maintaining growth momentum.
Additionally, while management provided guidance for fiscal year 2025 at the lower end of their previous range, they reiterated several other guidance items, suggesting a cautious outlook. The company’s future projections for home deliveries and average selling prices are slightly below consensus estimates, which may have influenced the Hold rating. Overall, the balance of positive and negative factors led to a neutral stance on the stock.
In another report released today, KBW also maintained a Hold rating on the stock with a $143.00 price target.
TOL’s price has also changed moderately for the past six months – from $114.880 to $132.180, which is a 15.06% increase.