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TOL

Toll Brothers

$38.39

1.19 (3.20%)

19:42
09/11/19
09/11
19:42
09/11/19
19:42

Toll Brothers acquires Sabal Homes, expanding into South Carolina markets

Toll Brothers announced its expansion into the Charleston, Greenville, and Myrtle Beach, South Carolina markets through the acquisition of Sabal Homes. Sabal Homes was founded in 2005 by Matt Jones, Jason Simpson, and Todd Ussery and has built over 1,375 new homes in South Carolina since inception. At the date of acquisition, the Company had approximately $30 million in backlog consisting of 80 homes with an average price of $380,000. Including the existing backlog, Toll Brothers acquired approximately 1,600 lots owned and controlled throughout Charleston, Greenville, and Myrtle Beach. The acquisition will increase Toll Brothers' selling community count by approximately 11 communities as of the closing date.

TOL Toll Brothers
$38.39

1.19 (3.20%)

08/12/19
RHCO
08/12/19
INITIATION
RHCO
Hold
Toll Brothers initiated with a Hold at SunTrust
SunTrust analyst Rohit Seth initiated Toll Brothers with a Hold rating and $37 price target, citing concerns with the company's exposure to the luxury market, longer-term demographic headwinds with its core 45-65 year-old buyer group, and a lower reinvestment opportunity due to the difficulty in finding luxury land parcels at reasonable prices.
08/22/19
WELS
08/22/19
DOWNGRADE
WELS
Market Perform
Toll Brothers downgraded to Market Perform from Outperform at Wells Fargo
08/22/19
WELS
08/22/19
DOWNGRADE
Target $39
WELS
Market Perform
Toll Brothers downgraded to Market Perform on lack of catalyst at Wells Fargo
As previously reported, Wells Fargo analyst Truman Patterson downgraded Toll Brothers to Market Perform from Outperform and lowered his price target on the stock to $39 from $45. Although the shares trade at roughly Book Value, the analyst believes the equity lacks a catalyst over the near-to-intermediate term to drive outperformance. Further, he believes 2020 revenues will essentially remain flat, providing little in the way of operating leverage, while gross margins decline 25 bps - likely creating another year of declining Operating Profit.
08/22/19
08/22/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Toll Brothers (TOL) downgraded to Market Perform from Outperform at Wells Fargo with analyst Truman Patterson saying although the shares trade at roughly Book Value, he believes the equity lacks a catalyst over the near-to-intermediate term to drive outperformance. 2. SQM (SQM) downgraded to Underweight from Neutral at JPMorgan with analyst Lucas Ferreira citing significant exposure to the deteriorating Chinese market. 3. Fortis (FTS) downgraded to Neutral from Outperformer at CIBC. 4. Splunk (SPLK) downgraded to Neutral from Outperform at Baird with analyst Rob Oliver citing the company's meaningful OCF reduction that stems from the accelerating move to ratable business and reducing up-front invoice durations. 5. Hemispherx (HEB) downgraded to Hold from Buy at Maxim with analyst Jason McCarthy citing capital concerns. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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04:55
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04:55
Conference/Events
SunTrust retail/consumer goods analysts to hold a dinner meeting »

Retail/Consumer Goods…

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CRTO

Criteo

, TWTR

Twitter

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09/14/19
09/14
13:19
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13:19
Conference/Events
FBN Securities Tech/Internet analyst to hold a group luncheon »

Technology & Internet…

CRTO

Criteo

TWTR

Twitter

SNAP

Snap

GOOGL

Alphabet Class A

FB

Facebook

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