Toro (NYSE:TTC) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Toro reported $1.24 EPS for the quarter, exceeding expectations by $0.02 and showing an increase from the $1.18 EPS earned in the same period last year.
• The company's quarterly revenue decreased by 2.2% year-over-year, and it updated its FY 2025 guidance to $4.15 EPS.
• Following the earnings announcement, Toro's stock experienced a 1.0% decline, despite favorable analyst ratings and increased institutional investment in the stock.

Toro (NYSE:TTC - Get Free Report) released its earnings results on Thursday. The company reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.02, Briefing.com reports. Toro had a return on equity of 28.98% and a net margin of 7.37%.The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company earned $1.18 earnings per share. Toro's quarterly revenue was down 2.2% compared to the same quarter last year. Toro updated its FY 2025 guidance to 4.150-4.150 EPS.

Toro Price Performance

NYSE TTC traded down $2.53 on Tuesday, reaching $78.86. The company's stock had a trading volume of 403,439 shares, compared to its average volume of 960,695. The firm has a market cap of $7.72 billion, a PE ratio of 23.89 and a beta of 0.80. Toro has a 52 week low of $62.34 and a 52 week high of $89.50. The company has a current ratio of 1.88, a quick ratio of 0.79 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $76.31 and a 200 day moving average price of $73.55.

Insider Buying and Selling

In related news, Director Gary Lee Ellis sold 5,038 shares of the firm's 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 sale, the director directly owned 34,062 shares in the company, valued at $2,411,930.22. This trade represents a 12.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $425,940.00. Following the completion of the transaction, the vice president directly owned 11,646 shares of the company's stock, valued at approximately $826,749.54. This trade represents a 34.00% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Toro

Several hedge funds and other institutional investors have recently modified their holdings of TTC. Caxton Associates LLP acquired a new position in shares of Toro in the 1st quarter valued at approximately $285,000. Integrated Wealth Concepts LLC boosted its stake in shares of Toro by 10.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,136 shares of the company's stock valued at $446,000 after purchasing an additional 586 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Toro by 191.5% in the 1st quarter. Focus Partners Wealth now owns 7,586 shares of the company's stock valued at $552,000 after purchasing an additional 4,984 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Toro by 9.8% during the 1st quarter. Empowered Funds LLC now owns 38,840 shares of the company's stock valued at $2,826,000 after acquiring an additional 3,464 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Toro by 37.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 456,861 shares of the company's stock valued at $33,237,000 after acquiring an additional 124,373 shares during the period. Institutional investors own 87.95% of the company's stock.

Analyst Ratings Changes

TTC has been the subject of a number of recent research reports. Robert W. Baird lifted their price objective on Toro from $82.00 to $86.00 and gave the stock a "neutral" rating in a research report on Friday. Northland Securities lifted their price objective on Toro from $80.00 to $90.00 and gave the stock a "market perform" rating in a research report on Tuesday. Longbow Research upgraded Toro from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Monday, August 25th. Northland Capmk downgraded shares of Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Raymond James Financial cut their target price on shares of Toro from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, June 6th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $92.60.

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.