Toro Sees Unusually High Options Volume (NYSE:TTC)

Key Points

• Toro Company experienced a significant spike in options trading, with 1,176 put options traded, marking a 1,709% increase from the average volume.
• The company reported a quarterly EPS of $1.24, surpassing analyst expectations, although revenue fell 2.2% year-over-year.
• Toro declared a quarterly dividend of $0.38 to be paid on October 21st, with a current dividend yield of 2.0%.

Toro Company (The) (NYSE:TTC - Get Free Report) saw some unusual options trading on Wednesday. Stock investors bought 1,176 put options on the company. This represents an increase of 1,709% compared to the typical volume of 65 put options.

Toro Price Performance

NYSE TTC opened at $75.92 on Thursday. The stock has a market capitalization of $7.43 billion, a P/E ratio of 23.01 and a beta of 0.85. Toro has a 1 year low of $62.34 and a 1 year high of $89.50. The business's fifty day moving average is $77.55 and its two-hundred day moving average is $73.73. 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 posted its quarterly earnings results on Thursday, September 4th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.02. The company had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.16 billion. Toro had a return on equity of 28.98% and a net margin of 7.37%.The firm's revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 earnings per share. Toro has set its FY 2025 guidance at 4.150-4.150 EPS. On average, research analysts forecast that Toro 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 Tuesday, October 21st. Shareholders of record on Tuesday, October 7th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $1.52 annualized dividend and a dividend yield of 2.0%. Toro's dividend payout ratio is currently 46.06%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Northland Securities boosted their price objective on Toro from $80.00 to $90.00 and gave the stock a "market perform" rating in a research report on Tuesday, September 9th. DA Davidson boosted their price objective on Toro from $93.00 to $97.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Raymond James Financial reduced their price objective on Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, June 6th. Robert W. Baird boosted their price objective on Toro from $82.00 to $86.00 and gave the stock a "neutral" rating in a research report on Friday, September 5th. Finally, Northland Capmk downgraded Toro from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 6th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $92.60.

Institutional Trading of Toro

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.