Analysts Set The Toro Company (NYSE:TTC) Target Price at $82.75

The Toro Company (NYSE:TTC - Get Free Report) has been given an average rating of "Hold" by the five ratings firms that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $82.75.

A number of research analysts have issued reports on the company. DA Davidson set a $76.00 price objective on Toro and gave the company a "neutral" rating in a research note on Monday, June 9th. Raymond James lowered their price target on Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, June 6th. Wall Street Zen lowered Toro from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Northland Securities reaffirmed a "market perform" rating and issued a $80.00 target price (down from $100.00) on shares of Toro in a report on Friday, June 6th. Finally, Robert W. Baird lifted their target price on shares of Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd.

Toro Stock Up 2.3%

Toro stock traded up $1.55 on Friday, hitting $68.90. 1,008,637 shares of the stock traded hands, compared to its average volume of 935,774. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The firm has a market cap of $6.80 billion, a P/E ratio of 17.18 and a beta of 0.83. The business's fifty day simple moving average is $71.39 and its 200 day simple moving average is $76.64. Toro has a 1 year low of $62.34 and a 1 year high of $100.93.

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

Toro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Tuesday, June 17th. Toro's dividend payout ratio is currently 38.97%.

Insiders Place Their Bets

In other news, Director Gary Lee Ellis sold 5,038 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $70.81, for a total transaction of $356,740.78. Following the completion of the transaction, the director now directly owns 34,062 shares of the company's stock, valued at $2,411,930.22. The trade was a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Toro

A number of hedge funds have recently added to or reduced their stakes in TTC. Lowe Brockenbrough & Co. Inc. grew its holdings in Toro by 1.1% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 11,473 shares of the company's stock valued at $923,000 after buying an additional 127 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Toro by 30.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock valued at $43,000 after acquiring an additional 127 shares in the last quarter. Savant Capital LLC grew its stake in Toro by 5.0% during the fourth quarter. Savant Capital LLC now owns 3,293 shares of the company's stock valued at $264,000 after acquiring an additional 158 shares in the last quarter. CIBC Asset Management Inc grew its stake in Toro by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 3,216 shares of the company's stock valued at $258,000 after acquiring an additional 164 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Toro by 1.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock valued at $1,033,000 after purchasing an additional 173 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Toro Company Profile

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.