Toro Sees Unusually High Options Volume (NYSE:TTC)

Key Points

• Toro Company experienced a significant spike in options trading, with over 1,176 put options purchased, signaling a 1,709% increase from the average volume of 65.
• Insider activity showed VP Kurt D. Svendsen sold 6,000 shares of Toro, decreasing his ownership by 34% and raising concerns about insider sentiment.
• Analysts have mixed views on Toro's stock, with price targets ranging from $80.00 to $100.00, leading to a consensus rating of "Moderate Buy."

Toro Company (The) (NYSE:TTC - Get Free Report) was the recipient of some unusual options trading on Wednesday. Stock traders bought 1,176 put options on the stock. This represents an increase of approximately 1,709% compared to the average daily volume of 65 put options.

Analyst Ratings Changes

Several research analysts have weighed in on TTC shares. DA Davidson upped their price objective on shares of Toro from $93.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Longbow Research upgraded shares of Toro from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Monday, August 25th. Northland Securities raised their price target on shares of Toro from $80.00 to $90.00 and gave the company a "market perform" rating in a research report on Tuesday, September 9th. Robert W. Baird boosted their price objective on Toro from $82.00 to $86.00 and gave the stock a "neutral" rating in a report on Friday, September 5th. Finally, Raymond James Financial lowered their price objective on Toro from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, June 6th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $92.60.

Insider Buying and Selling at Toro

In related news, VP Kurt D. Svendsen sold 6,000 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $70.99, for a total value of $425,940.00. Following the transaction, the vice president directly owned 11,646 shares in the company, valued at $826,749.54. This trade 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. 0.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in Toro by 7.5% in the 1st 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 during the period. M&T Bank Corp increased its stake in shares of Toro by 11.2% in 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 position in shares of Toro by 87.5% in the first 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. lifted its stake in shares of 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 buying an additional 173 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Toro by 65.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 12,674 shares of the company's stock worth $922,000 after buying an additional 5,012 shares during the period. Hedge funds and other institutional investors own 87.95% of the company's stock.

Toro Stock Performance

Shares of TTC stock traded down $1.81 during trading on Friday, hitting $78.13. The company's stock had a trading volume of 1,254,458 shares, compared to its average volume of 955,963. The company has a current ratio of 1.88, a quick ratio of 0.79 and a debt-to-equity ratio of 0.72. The company has a market cap of $7.65 billion, a PE ratio of 23.68 and a beta of 0.80. The business has a fifty day moving average of $77.07 and a 200-day moving average of $73.61. Toro has a 52 week low of $62.34 and a 52 week high of $89.50.

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

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.