Toro (NYSE:TTC) Trading Down 3.2% - Should You Sell?

Shares of The Toro Company (NYSE:TTC - Get Free Report) were down 3.2% during mid-day trading on Friday . The company traded as low as $71.76 and last traded at $70.93. Approximately 208,893 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 953,905 shares. The stock had previously closed at $73.30.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. DA Davidson reduced their price objective on Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Northland Securities reaffirmed a "market perform" rating and set a $80.00 price target (down previously from $100.00) on shares of Toro in a research report on Friday. Northland Capmk upgraded shares of Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. Robert W. Baird boosted their target price on shares of Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Wall Street Zen cut shares of Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Toro currently has a consensus rating of "Moderate Buy" and an average price target of $85.00.

Toro Price Performance

The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The firm has a market cap of $7.02 billion, a PE ratio of 17.56 and a beta of 0.83. The stock has a 50 day simple moving average of $71.04 and a 200-day simple moving average of $77.50.

Toro (NYSE:TTC - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.04. Toro had a net margin of 9.14% and a return on equity of 27.25%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm earned $1.40 earnings per share. Toro's revenue was down 2.3% on a year-over-year basis. Equities analysts anticipate that The Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Tuesday, June 17th. Toro's dividend payout ratio is presently 38.87%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. abrdn plc increased its stake in shares of Toro by 12.0% during the fourth quarter. abrdn plc now owns 3,220 shares of the company's stock valued at $258,000 after buying an additional 346 shares during the period. E. Ohman J or Asset Management AB grew its holdings in Toro by 45.5% during the 4th quarter. E. Ohman J or Asset Management AB now owns 6,400 shares of the company's stock worth $513,000 after acquiring an additional 2,000 shares in the last quarter. Robertson Stephens Wealth Management LLC increased its position in Toro by 59.9% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 3,973 shares of the company's stock valued at $320,000 after purchasing an additional 1,489 shares during the period. Bleakley Financial Group LLC increased its position in Toro by 36.1% during the 4th quarter. Bleakley Financial Group LLC now owns 10,052 shares of the company's stock valued at $805,000 after purchasing an additional 2,664 shares during the period. Finally, Financial Advocates Investment Management raised its holdings in shares of Toro by 35.5% in the 4th quarter. Financial Advocates Investment Management now owns 4,330 shares of the company's stock valued at $347,000 after purchasing an additional 1,134 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

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.

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