Toro (NYSE:TTC) Reaches New 12-Month High - Here's Why

Key Points

• Toro shares reached a new 52-week high of $107.30, trading about 2.5% higher and giving the company a market capitalization of approximately $10.17 billion.
• Analysts maintain a cautiously positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $111.67; recent targets range from $115 to $120.
• Toro exceeded quarterly expectations with $1.33 in EPS and $1.23 billion in revenue, up 8.4% year over year. The company also pays a quarterly dividend of $0.39, equivalent to a 1.5% annual yield.

Toro Company (The) (NYSE:TTC - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday. The company traded as high as $107.30 and last traded at $107.5330, with a volume of 146,744 shares. The stock had previously closed at $104.75.

Analyst Ratings Changes

Several research firms have recently issued reports on TTC. Wall Street Zen lowered Toro from a "strong-buy" rating to a "buy" rating in a report on Sunday, October 4th. DA Davidson dropped their price target on Toro from $117.00 to $115.00 and set a "buy" rating for the company in a research note on Friday, September 4th. Oppenheimer began coverage on shares of Toro in a research note on Wednesday, September 23rd. They set an "outperform" rating and a $120.00 price objective on the stock. Finally, Weiss Ratings raised shares of Toro from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $111.67.

Toro Stock Up 2.5%

The stock's 50-day simple moving average is $97.84 and its 200 day simple moving average is $95.23. The company has a quick ratio of 0.74, a current ratio of 1.58 and a debt-to-equity ratio of 0.72. The firm has a market cap of $10.17 billion, a P/E ratio of 28.75, a PEG ratio of 2.27 and a beta of 0.66.

Toro (NYSE:TTC - Get Free Report) last issued its earnings results on Thursday, September 3rd. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.02. The company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.19 billion. Toro had a return on equity of 31.86% and a net margin of 7.64%. Toro's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $1.24 EPS. Toro has set its FY 2026 guidance at 4.600-4.650 EPS. As a group, research analysts forecast that Toro Company will post 4.64 EPS for the current fiscal year.

Toro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Investors of record on Tuesday, October 6th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, October 6th. Toro's dividend payout ratio is currently 41.71%.

Hedge Funds Weigh In On Toro

A number of large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC lifted its stake in shares of Toro by 2.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 6,782 shares of the company's stock valued at $664,000 after buying an additional 130 shares in the last quarter. TD Waterhouse Canada Inc. increased its stake in Toro by 6.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 2,319 shares of the company's stock worth $227,000 after buying an additional 132 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in Toro by 7.0% during the third quarter. Robertson Stephens Wealth Management LLC now owns 2,411 shares of the company's stock valued at $232,000 after acquiring an additional 157 shares during the period. BOKF NA raised its holdings in Toro by 2.7% during the third quarter. BOKF NA now owns 8,364 shares of the company's stock valued at $806,000 after acquiring an additional 220 shares during the period. Finally, Essential Partners LLC raised its holdings in Toro by 2.3% during the first quarter. Essential Partners LLC now owns 10,519 shares of the company's stock valued at $983,000 after acquiring an additional 233 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

About Toro

The Toro Company NYSE: TTC designs, manufactures and markets equipment and solutions for maintaining outdoor environments. Its products serve professional and residential customers in areas such as turf care, landscaping, irrigation, snow and ice management, and outdoor construction.

The company's portfolio includes zero-turn and riding mowers, walk-behind mowers, utility vehicles, turf maintenance equipment, landscape and irrigation systems, snowplows and snow removal equipment, and compact utility and underground construction machinery.

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