Toro Company (The) (NYSE:TTC) Given Average Rating of "Hold" by Analysts

Toro Company (The) (NYSE:TTC - Get Free Report) has received an average rating of "Hold" from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $82.75.

A number of equities analysts have recently issued reports on the stock. Raymond James Financial reduced their target price on shares of Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a research report on Friday, June 6th. DA Davidson set a $76.00 price objective on shares of Toro and gave the company a "neutral" rating in a report on Monday, June 9th. Northland Securities restated a "market perform" rating and issued a $80.00 price objective (down from $100.00) on shares of Toro in a report on Friday, June 6th. Northland Capmk lowered shares of Toro from a "strong-buy" rating to a "hold" rating in a report on Friday, June 6th. Finally, Robert W. Baird increased their price objective on shares of Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd.

Toro Stock Performance

NYSE:TTC opened at $73.69 on Tuesday. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 18.89 and a beta of 0.81. The firm's 50-day moving average is $72.53 and its 200-day moving average is $75.13. Toro has a 52-week low of $62.34 and a 52-week high of $100.93. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.79 and a current ratio of 1.81.

Toro (NYSE:TTC - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.02. The business had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.35 billion. Toro had a net margin of 8.77% and a return on equity of 27.99%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 earnings per share. Equities research analysts anticipate that Toro will post 4.41 earnings per share for the current year.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 17th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Tuesday, June 17th. Toro's dividend payout ratio (DPR) is currently 38.97%.

Insiders Place Their Bets

In related news, VP Kurt D. Svendsen sold 6,000 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $70.99, for a total value of $425,940.00. Following the completion of the transaction, the vice president owned 11,646 shares of the company's stock, valued at approximately $826,749.54. This trade represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary Lee Ellis sold 5,038 shares of the stock in a transaction 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 sale, the director owned 34,062 shares of the company's stock, valued at approximately $2,411,930.22. This represents a 12.88% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Institutional Trading of Toro

Hedge funds have recently modified their holdings of the stock. True Wealth Design LLC increased its position in Toro by 127.2% during the fourth quarter. True Wealth Design LLC now owns 368 shares of the company's stock worth $29,000 after acquiring an additional 206 shares during the period. Brooklyn Investment Group increased its holdings in Toro by 94.1% in the 1st quarter. Brooklyn Investment Group now owns 495 shares of the company's stock valued at $36,000 after buying an additional 240 shares during the period. Financial Harvest LLC bought a new position in Toro in the 1st quarter valued at about $42,000. CIBC Private Wealth Group LLC increased its holdings in Toro by 30.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock valued at $43,000 after buying an additional 127 shares during the period. Finally, Allworth Financial LP increased its holdings in Toro by 91.6% in the 1st quarter. Allworth Financial LP now owns 663 shares of the company's stock valued at $46,000 after buying an additional 317 shares during the period. Institutional investors and hedge funds own 87.95% of the company's stock.

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.

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