Toro (NYSE:TTC) Stock Crosses Below 50-Day Moving Average - Here's What Happened

Key Points

• The stock of Toro Company (NYSE:TTC) fell below its 50-day moving average of $77.77, trading at $74.29 with a volume of over 731,000 shares.
• Recent analyst reports have raised Toro's price targets, with DA Davidson setting a new target of $97.00 and Longbow Research upgrading the stock to a "buy" with a target of $100.00.
• Toro announced a quarterly dividend of $0.38 per share, with a yield of 2.0%, scheduled for payment on October 21st.

Shares of Toro Company (The) (NYSE:TTC - Get Free Report) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $77.77 and traded as low as $73.81. Toro shares last traded at $74.29, with a volume of 731,345 shares.

Analysts Set New Price Targets

TTC has been the topic of a number of recent research reports. Northland Securities upped their price objective on shares of Toro from $80.00 to $90.00 and gave the stock a "market perform" rating in a report on Tuesday, September 9th. Robert W. Baird increased their price objective on shares of Toro from $82.00 to $86.00 and gave the company a "neutral" rating in a research report on Friday, September 5th. DA Davidson increased their price target 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 price target on the stock in a research report on Monday, August 25th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Toro in a research report on Wednesday. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $92.60.

Toro Stock Down 3.5%

The business's fifty day moving average is $77.77 and its two-hundred day moving average is $73.86. The company has a market cap of $7.27 billion, a P/E ratio of 22.51 and a beta of 0.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.79 and a current ratio of 1.88.

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

Toro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Tuesday, October 7th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, October 7th. Toro's dividend payout ratio (DPR) is 46.06%.

Institutional Trading of Toro

Hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Toro by 7.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 535,787 shares of the company's stock valued at $38,882,000 after acquiring an additional 37,405 shares in the last quarter. M&T Bank Corp raised its holdings in Toro by 11.2% during the first quarter. M&T Bank Corp now owns 10,915 shares of the company's stock worth $794,000 after purchasing an additional 1,098 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Toro by 87.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 45,449 shares of the company's stock worth $3,306,000 after purchasing an additional 21,214 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Toro by 1.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock worth $1,033,000 after purchasing an additional 173 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Toro by 65.4% during the first quarter. Robeco Institutional Asset Management B.V. now owns 12,674 shares of the company's stock worth $922,000 after purchasing an additional 5,012 shares in the last quarter. 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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