Toro (NYSE:TTC) Shares Gap Up After Analyst Upgrade

Key Points

• Toro Company's stock gapped up from $79.11 to $82.50 after analyst DA Davidson upgraded it from neutral to buy, raising their price target to $93.00.
• Multiple analysts have provided mixed ratings on Toro, with three rating it a buy and three a hold, resulting in an average rating of "Moderate Buy" and a consensus price target of $89.60.
• In insider trading, Director Gary Lee Ellis and VP Kurt D. Svendsen sold shares recently, indicating a decrease in their ownership positions by approximately 12.88% and 34%, respectively.

Toro Company (The) (NYSE:TTC - Get Free Report) gapped up prior to trading on Monday after DA Davidson upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $79.11, but opened at $82.50. DA Davidson now has a $93.00 price target on the stock, up from their previous price target of $76.00. Toro shares last traded at $83.37, with a volume of 216,914 shares trading hands.

A number of other equities analysts also recently commented on TTC. Raymond James Financial lowered their target price on shares of Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, June 6th. Longbow Research upgraded shares of Toro from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Monday. Northland Securities reiterated a "market perform" rating and set a $80.00 target price (down previously from $100.00) on shares of Toro in a research note on Friday, June 6th. Northland Capmk downgraded shares of Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Robert W. Baird lifted their target price on Toro from $84.00 to $85.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Toro presently has an average rating of "Moderate Buy" and a consensus target price of $89.60.

Insider Activity

In other news, Director Gary Lee Ellis sold 5,038 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total transaction of $356,740.78. Following the completion of the transaction, the director directly 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kurt D. Svendsen sold 6,000 shares of the stock in a transaction dated 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 ownership of the stock. 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 bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its stake in Toro by 1.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock worth $1,033,000 after acquiring an additional 173 shares during the period. True Wealth Design LLC increased its holdings in shares of Toro by 127.2% during the 4th quarter. True Wealth Design LLC now owns 368 shares of the company's stock worth $29,000 after buying an additional 206 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of Toro by 5.3% during the 4th quarter. Baird Financial Group Inc. now owns 4,396 shares of the company's stock worth $352,000 after buying an additional 220 shares during the last quarter. IHT Wealth Management LLC increased its holdings in shares of Toro by 7.9% during the 4th quarter. IHT Wealth Management LLC now owns 3,287 shares of the company's stock worth $263,000 after buying an additional 240 shares during the last quarter. Finally, Cornerstone Wealth Management LLC increased its holdings in shares of Toro by 9.1% during the 1st quarter. Cornerstone Wealth Management LLC now owns 2,866 shares of the company's stock worth $209,000 after buying an additional 240 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Trading Up 5.1%

The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 21.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.79 and a current ratio of 1.81. The business has a fifty day moving average price of $73.78 and a 200 day moving average price of $73.49.

Toro (NYSE:TTC - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.02. Toro had a return on equity of 27.99% and a net margin of 8.77%.The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the firm posted $1.40 EPS. The business's revenue for the quarter was down 2.3% on a year-over-year basis. Toro has set its FY 2025 guidance at 4.150-4.300 EPS. As a group, equities analysts forecast that Toro Company will post 4.41 earnings per share for the current year.

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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