DA Davidson Cuts Toro (NYSE:TTC) Price Target to $76.00

Toro (NYSE:TTC - Get Free Report) had its price objective dropped by analysts at DA Davidson from $80.00 to $76.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. DA Davidson's target price would indicate a potential upside of 7.29% from the company's previous close.

A number of other equities research analysts also recently weighed in on the company. Northland Capmk downgraded Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday. Wall Street Zen lowered Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Raymond James lowered their price objective on Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday. Northland Securities reissued a "market perform" rating and set a $80.00 price objective (down previously from $100.00) on shares of Toro in a report on Friday. Finally, Robert W. Baird increased their price objective on Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Toro has a consensus rating of "Hold" and an average target price of $82.75.

Toro Trading Up 3.4%

Shares of NYSE:TTC traded up $2.33 during midday trading on Monday, reaching $70.84. The company had a trading volume of 379,285 shares, compared to its average volume of 1,032,324. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 17.66 and a beta of 0.83. Toro has a 1-year low of $62.34 and a 1-year high of $100.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81. The company has a fifty day simple moving average of $70.96 and a two-hundred day simple moving average of $77.34.

Toro (NYSE:TTC - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.02. Toro had a return on equity of 27.25% and a net margin of 9.14%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. Toro's quarterly revenue was down 2.3% on a year-over-year basis. Research analysts predict that Toro will post 4.41 earnings per share for the current year.

Institutional Trading of Toro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC grew its holdings in Toro by 127.2% in the 4th quarter. True Wealth Design LLC now owns 368 shares of the company's stock valued at $29,000 after buying an additional 206 shares during the last quarter. Asset Planning Inc bought a new stake in shares of Toro in the 4th quarter worth approximately $31,000. Brooklyn Investment Group lifted its position in shares of Toro by 94.1% in the 1st quarter. Brooklyn Investment Group now owns 495 shares of the company's stock worth $36,000 after acquiring an additional 240 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Toro by 195.7% in the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock worth $44,000 after acquiring an additional 362 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Toro by 30.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock worth $43,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 87.95% of the company's stock.

About Toro

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.