DA Davidson Upgrades Toro (NYSE:TTC) to "Buy"

Key Points

• Toro (NYSE:TTC) received a buy rating upgrade from DA Davidson, raising its price target to $93.00, which signifies a potential upside of 17.56% from its current stock price.
• The company reported earnings per share (EPS) of $1.42 for the last quarter, surpassing analyst expectations, but experienced a 2.3% decrease in revenue compared to the previous year.
• Institutional investors hold a significant majority, with 87.95% of Toro's stock owned by them, indicating strong interest and confidence in the company from large investors.

Toro (NYSE:TTC - Get Free Report) was upgraded by analysts at DA Davidson from a "neutral" rating to a "buy" rating in a research report issued on Monday, Marketbeat Ratings reports. The firm currently has a $93.00 target price on the stock, up from their previous target price of $76.00. DA Davidson's price objective indicates a potential upside of 14.79% from the stock's current price.

TTC has been the topic of several other research reports. Northland Capmk lowered shares of Toro from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 6th. Raymond James Financial dropped their price objective 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. Northland Securities reiterated a "market perform" rating and issued a $80.00 price objective (down previously from $100.00) on shares of Toro 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 price objective on the stock in a research note on Monday. Finally, Robert W. Baird upped their price objective on shares of Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Three equities 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.60.

Toro Price Performance

Shares of NYSE TTC traded down $0.98 during midday trading on Monday, reaching $81.02. The company's stock had a trading volume of 1,130,950 shares, compared to its average volume of 952,881. The company has a current ratio of 1.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average price of $74.82 and a 200 day moving average price of $73.64. Toro has a one year low of $62.34 and a one year high of $93.00. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 20.77 and a beta of 0.80.

Toro (NYSE:TTC - Get Free Report) last released its earnings results 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 net margin of 8.77% and a return on equity of 27.99%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm earned $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. On average, equities research analysts expect that Toro will post 4.41 EPS for the current year.

Insiders Place Their Bets

In other Toro news, VP Kurt D. Svendsen sold 6,000 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $70.99, for a total value of $425,940.00. Following the completion of the sale, the vice president directly owned 11,646 shares of the company's stock, valued at $826,749.54. This represents a 34.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary Lee Ellis sold 5,038 shares of the 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 completion of the sale, the director directly owned 34,062 shares of the company's stock, valued at approximately $2,411,930.22. This trade represents a 12.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Toro

A number of hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. raised its stake in shares of Toro by 1.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company's stock valued at $1,033,000 after buying an additional 173 shares in the last quarter. True Wealth Design LLC increased its position 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 purchasing an additional 206 shares in the last quarter. Baird Financial Group Inc. increased its position 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 purchasing an additional 220 shares in the last quarter. IHT Wealth Management LLC increased its position 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 purchasing an additional 240 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its position 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 purchasing an additional 240 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

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.