Toro Company (The) (NYSE:TTC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm presently has a $79.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 11.58% from the company’s previous close.

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. “

Several other equities research analysts have also recently weighed in on TTC. BidaskClub upgraded Toro Company (The) from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Cleveland Research upgraded Toro Company (The) from a “neutral” rating to a “buy” rating in a report on Thursday, March 30th. Finally, Longbow Research upgraded Toro Company (The) from an “underperform” rating to a “neutral” rating in a report on Monday, May 22nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $62.75.

Toro Company (TTC) traded down 0.38% during trading on Thursday, hitting $70.53. The company had a trading volume of 28,914 shares. Toro Company has a 1-year low of $44.81 and a 1-year high of $73.00. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of 31.37 and a beta of 0.56. The company’s 50 day moving average price is $69.08 and its 200-day moving average price is $62.43.

Toro Company (The) (NYSE:TTC) last posted its quarterly earnings results on Thursday, May 25th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. Toro Company (The) had a return on equity of 44.74% and a net margin of 10.23%. The business had revenue of $872.77 million for the quarter, compared to analyst estimates of $863.17 million. During the same period last year, the company earned $1.89 EPS. Toro Company (The)’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts expect that Toro Company will post $2.37 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Friday, June 23rd were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Wednesday, June 21st. Toro Company (The)’s payout ratio is presently 30.97%.

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In other news, Director Christopher A. Twomey sold 15,108 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $71.75, for a total value of $1,083,999.00. Following the completion of the transaction, the director now owns 15,108 shares in the company, valued at approximately $1,083,999. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Thomas J. Larson sold 6,600 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $69.04, for a total value of $455,664.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,872 shares of company stock valued at $5,119,937. 5.69% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mark Sheptoff Financial Planning LLC raised its stake in Toro Company (The) by 0.3% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 9,263 shares of the company’s stock worth $579,000 after buying an additional 29 shares during the last quarter. Clifford Swan Investment Counsel LLC raised its stake in Toro Company (The) by 0.3% in the first quarter. Clifford Swan Investment Counsel LLC now owns 10,042 shares of the company’s stock worth $627,000 after buying an additional 31 shares during the last quarter. Mackenzie Financial Corp raised its stake in Toro Company (The) by 0.6% in the first quarter. Mackenzie Financial Corp now owns 7,578 shares of the company’s stock worth $473,000 after buying an additional 48 shares during the last quarter. NEXT Financial Group Inc raised its stake in Toro Company (The) by 2.4% in the first quarter. NEXT Financial Group Inc now owns 2,787 shares of the company’s stock worth $181,000 after buying an additional 66 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC raised its stake in Toro Company (The) by 0.4% in the first quarter. Murphy Pohlad Asset Management LLC now owns 24,022 shares of the company’s stock worth $1,500,000 after buying an additional 98 shares during the last quarter. 75.88% of the stock is owned by institutional investors.

Toro Company (The) Company Profile

The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.

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