Toro (TTC) Upgraded at Zacks Investment Research
Toro (NYSE:TTC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $72.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.82% from the stock’s previous close.
According to Zacks, “The Toro Company is a leading worldwide provider of innovative solutions for the outdoor environment, including turf, snow and ground engaging equipment and irrigation and outdoor lighting solutions. Toro’s global presence extends to more than 90 countries. Through constant innovation and caring relationships built on trust and integrity, Toro and its family of brands have built a legacy of excellence by helping customers care for golf courses, landscapes, sports fields, public green spaces, commercial and residential properties and agricultural fields. “
Several other analysts also recently weighed in on the company. Seaport Global Securities downgraded Toro from a “buy” rating to a “neutral” rating and set a $67.00 price objective for the company. in a research report on Friday, August 25th. Dougherty & Co downgraded Toro from a “buy” rating to a “neutral” rating in a research report on Friday, August 25th. Finally, BidaskClub downgraded Toro from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $68.00.
Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, December 7th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. Toro had a return on equity of 44.66% and a net margin of 10.69%. The business had revenue of $488.60 million during the quarter, compared to the consensus estimate of $491.55 million. During the same period in the prior year, the company earned $0.27 EPS. Toro’s revenue for the quarter was up 4.3% on a year-over-year basis. analysts predict that Toro will post 2.61 earnings per share for the current year.
In other Toro news, Director Katherine J. Harless sold 6,000 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $61.88, for a total value of $371,280.00. Following the completion of the transaction, the director now directly owns 77,672 shares in the company, valued at $4,806,343.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David H. Alkire sold 23,000 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $65.83, for a total value of $1,514,090.00. Following the completion of the transaction, the vice president now owns 14,769 shares of the company’s stock, valued at $972,243.27. The disclosure for this sale can be found here. 5.69% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of TTC. Lord Abbett & CO. LLC increased its stake in shares of Toro by 96.8% in the second quarter. Lord Abbett & CO. LLC now owns 365,950 shares of the company’s stock valued at $25,357,000 after buying an additional 179,968 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Toro in the third quarter valued at about $10,811,000. Russell Investments Group Ltd. increased its stake in shares of Toro by 145.6% in the third quarter. Russell Investments Group Ltd. now owns 258,695 shares of the company’s stock valued at $16,055,000 after buying an additional 153,342 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Toro in the third quarter valued at about $6,361,000. Finally, Teachers Advisors LLC increased its stake in shares of Toro by 23.6% in the second quarter. Teachers Advisors LLC now owns 477,977 shares of the company’s stock valued at $33,119,000 after buying an additional 91,263 shares during the period. Hedge funds and other institutional investors own 75.07% of the company’s stock.
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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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