Barclays Cuts Toll Brothers (TOL) Price Target to $118

Barclays maintained its Underweight rating on Toll Brothers, Inc. (NYSE: TOL) and lowered its price target to $118.00 from $122.00 on October 6, 2026. The research note provides a cautious outlook on the homebuilder compared to a broader analyst community that leans more positive.

TOL Toll Brothers, Inc.

$131.32 ▼ -2.42% year to date

1M 3M YTD

Daily close · Oct 19, 2026

Barclays's Call on Toll Brothers, Inc.

In its October 6, 2026 research note, Barclays kept an Underweight rating on the stock while moving its price target down to $118.00 from the previous $122.00 level. Other firms have weighed in around the same period, including Melius Research initiating coverage with a Buy rating and a $179.00 target on October 6, 2026, and Morgan Stanley initiating an Overweight rating with a $159.00 target on October 1, 2026. Earlier, Evercore ISI Group maintained an Outperform rating with a $184.00 target on September 25, 2026, and Keefe, Bruyette & Woods maintained an Outperform rating with a $170.00 target on August 28, 2026.

Other Institutional Activity in Toll Brothers, Inc.

Greenhaven Associates, Inc. reduced its holdings by 15,242 shares, ending with 5,630,109 shares worth about $738,219,864.00.

Toll Brothers, Inc. Stock Down 0.3%

Toll Brothers shares closed at $138.00 on the day of the rating change. The stock recently traded around $133.35 as of October 16, 2026, which is down about 3.4% since that note. The company has a market capitalization of roughly $12.34 billion.

Recent Earnings

Toll Brothers reported trailing twelve month revenue of $10.76 billion and basic earnings of $12.41 per share. The company generated a net profit margin of 11.1% and a return on equity of 14.4%. Revenue grew 9.7% lower compared to the prior year period. The company's next earnings report is slated for December 8, 2026.

Dividend

The company pays an annual dividend yielding 0.78% with a payout ratio of 8.2%.

Insider Buying and Selling at Toll Brothers, Inc.

Company insiders executed several transactions earlier in the year. Director John A. Mclean sold 2,313 shares on March 4, 2026, at an average price of $153.43 for a total value of $354,889.00. Director Stephen F East sold 1,000 shares on April 15, 2026, at $139.70 per share, totaling $139,700.00. President Robert Parahus sold 7,500 shares on June 18, 2026, at $149.66 for a total of $1,122,450.00. Officer and Director Douglas C Yearley Jr sold 77,957 shares on June 18, 2026, at $156.58 per share, bringing in $12,206,375.00.

Analysts Set New Price Targets

Overall, the stock carries a consensus Buy rating from 17 analysts, with a mean price target of $169.65.

About Toll Brothers, Inc.

Toll Brothers designs, builds, markets, and sells luxury detached and attached homes across residential communities in the United States, alongside condominium projects under the Toll Brothers City Living name. The company caters to move-up, empty-nester, active-adult, and second-home buyers.

Bottom Line

Barclays remains more cautious on Toll Brothers than much of Wall Street, keeping an Underweight stance as the builder heads toward its December 8 earnings report. Investors will watch for shifts in housing demand and order trends in the coming months.