Toro Co (TTC) Raised to Hold at Zacks Investment Research
According to Zacks, “Toro Company designs, manufactures and markets consumer and professional turf maintenance equipment, snow removal products and irrigation systems and provides landscaping and turf maintenance services. The company manufactures walk-behind power mowers and snowblowers and riding lawn mowers and lawn and garden tractors. The company designs and markets electrical and gas products, professional turf maintenance equipment and turf irrigation products. “
A number of other research analysts also recently weighed in on TTC. Seaport Global Securities began coverage on Toro in a report on Tuesday, May 24th. They issued a neutral rating and a $43.50 target price on the stock. Northcoast Research reissued a neutral rating on shares of Toro in a report on Thursday, June 30th. Finally, Sidoti downgraded Toro from a buy rating to a neutral rating and set a $49.00 target price on the stock. in a report on Friday, June 10th. Five equities research analysts have rated the stock with a hold rating, Toro currently has an average rating of Hold and a consensus target price of C$45.67.
Shares of Toro (NYSE:TTC) opened at 47.24 on Friday. The company has a 50-day moving average price of $47.67 and a 200-day moving average price of $44.78. The company has a market cap of $5.16 billion, a P/E ratio of 23.67 and a beta of 0.57. Toro has a 52-week low of $32.35 and a 52-week high of $49.50.
Toro (NYSE:TTC) last posted its earnings results on Thursday, August 18th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. Toro had a return on equity of 43.50% and a net margin of 9.33%. The company had revenue of $601 million for the quarter, compared to the consensus estimate of $623.79 million. During the same quarter in the prior year, the company earned $0.94 earnings per share. Toro’s revenue was down 1.4% on a year-over-year basis. On average, equities analysts predict that Toro will post $2.01 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, September 29th. Toro’s payout ratio is 29.93%.
In other Toro news, VP William E. Brown, Jr. sold 6,000 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of C$98.34, for a total value of C$590,040.00. Following the completion of the sale, the vice president now owns 93,469 shares in the company, valued at C$9,191,741.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael J. Hoffman sold 125,600 shares of the company’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of C$86.46, for a total value of C$10,859,376.00. The disclosure for this sale can be found here. 5.94% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Creative Planning boosted its stake in Toro by 2.3% in the second quarter. Creative Planning now owns 1,492 shares of the company’s stock valued at $132,000 after buying an additional 33 shares in the last quarter. TLP Group LLC acquired a new stake in Toro during the second quarter valued at about $161,000. Advisory Services Network LLC boosted its stake in Toro by 234.5% in the second quarter. Advisory Services Network LLC now owns 1,880 shares of the company’s stock valued at $166,000 after buying an additional 1,318 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Toro during the second quarter valued at about $179,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Toro by 917.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,441 shares of the company’s stock valued at $215,000 after buying an additional 2,201 shares in the last quarter. Institutional investors and hedge funds own 74.95% of the company’s stock.
The Toro Company designs, manufactures and markets professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products. The Company operates through three segments: Professional, Residential and Distribution.
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