Toro (TTC) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Toro (NYSE:TTC) from a sell rating to a hold rating in a research note published on Saturday.
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 brokerages also recently issued reports on TTC. ValuEngine upgraded shares of Toro from a hold rating to a buy rating in a research note on Friday, February 22nd. Robert W. Baird assumed coverage on Toro in a research report on Friday, January 18th. They issued a neutral rating and a $62.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $66.00.
Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, February 21st. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $603.00 million for the quarter, compared to the consensus estimate of $575.05 million. Toro had a net margin of 11.55% and a return on equity of 44.47%. Toro’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $0.48 earnings per share. On average, sell-side analysts anticipate that Toro will post 2.91 earnings per share for the current year.
In related news, Director Robert C. Buhrmaster sold 9,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $67.27, for a total value of $605,430.00. Following the completion of the transaction, the director now directly owns 25,091 shares of the company’s stock, valued at $1,687,871.57. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Richard W. Rodier sold 7,727 shares of the firm’s stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $57.21, for a total value of $442,061.67. Following the completion of the transaction, the vice president now directly owns 30,122 shares of the company’s stock, valued at $1,723,279.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,835 shares of company stock valued at $3,187,100. 2.36% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of TTC. Riverview Trust Co bought a new position in shares of Toro during the fourth quarter valued at $35,000. Highwater Wealth Management LLC bought a new position in shares of Toro during the fourth quarter valued at $39,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of Toro by 5,488.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,329,525 shares of the company’s stock valued at $42,000 after acquiring an additional 2,287,837 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Toro by 25.5% during the fourth quarter. Parallel Advisors LLC now owns 1,601 shares of the company’s stock valued at $89,000 after acquiring an additional 325 shares during the period. Finally, ETF Managers Group LLC lifted its holdings in shares of Toro by 18.5% during the fourth quarter. ETF Managers Group LLC now owns 2,135 shares of the company’s stock valued at $119,000 after acquiring an additional 334 shares during the period. 79.89% of the stock is owned by hedge funds and other institutional investors.
The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.
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