Northland Securities Issues Positive Forecast for Toro (NYSE:TTC) Stock Price

Key Points

• Northland Securities has raised Toro's price target from $80.00 to $90.00, indicating a possible upside of 13.29% from its current price.
• Toro's stock has been downgraded by some analysts, while others upgraded it; currently, the average rating is a "Moderate Buy" with an average target price of $92.60.
• The company's quarterly earnings exceeded analyst expectations, reporting $1.24 earnings per share, although revenue was slightly below forecasts at $1.13 billion.

Toro (NYSE:TTC - Get Free Report) had its price target upped by research analysts at Northland Securities from $80.00 to $90.00 in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage currently has a "market perform" rating on the stock. Northland Securities' target price would indicate a potential upside of 13.42% from the company's current price.

Several other equities research analysts have also commented on the stock. Northland Capmk lowered shares of Toro from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 6th. DA Davidson boosted their price objective on shares of Toro from $93.00 to $97.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Longbow Research upgraded shares of Toro from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Monday, August 25th. 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 report on Friday, June 6th. Finally, Robert W. Baird upped their target price on shares of Toro from $82.00 to $86.00 and gave the company a "neutral" rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $92.60.

Toro Price Performance

Shares of Toro stock traded down $0.57 on Tuesday, hitting $79.35. The company's stock had a trading volume of 717,520 shares, compared to its average volume of 853,569. Toro has a 52-week low of $62.34 and a 52-week high of $89.50. The company has a quick ratio of 0.79, a current ratio of 1.88 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average price of $76.69 and a 200-day moving average price of $73.56. The company has a market capitalization of $7.77 billion, a P/E ratio of 24.05 and a beta of 0.80.

Toro (NYSE:TTC - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.22 by $0.02. Toro had a net margin of 7.37% and a return on equity of 28.98%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm earned $1.18 EPS. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. Toro has set its FY 2025 guidance at 4.150-4.150 EPS. On average, equities research analysts expect that Toro will post 4.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Kurt D. Svendsen sold 6,000 shares of Toro stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $70.99, for a total value of $425,940.00. Following the transaction, the vice president owned 11,646 shares in the company, valued at approximately $826,749.54. This trade represents a 34.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.39% of the company's stock.

Hedge Funds Weigh In On Toro

Several hedge funds and other institutional investors have recently modified their holdings of TTC. Vanguard Group Inc. increased its position in Toro by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 10,495,037 shares of the company's stock worth $763,514,000 after purchasing an additional 169,865 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in Toro by 16.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,187,609 shares of the company's stock worth $595,649,000 after purchasing an additional 1,156,314 shares in the last quarter. AQR Capital Management LLC increased its position in Toro by 1,184.6% during the 1st quarter. AQR Capital Management LLC now owns 1,963,253 shares of the company's stock worth $142,827,000 after purchasing an additional 1,810,429 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Toro by 39.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,534,760 shares of the company's stock worth $111,654,000 after purchasing an additional 434,257 shares in the last quarter. Finally, King Luther Capital Management Corp increased its position in Toro by 3.2% during the 1st quarter. King Luther Capital Management Corp now owns 1,077,753 shares of the company's stock worth $78,407,000 after purchasing an additional 33,920 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

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.