Toro (NYSE:TTC) Stock Rating Upgraded by Northland Securities

Toro (NYSE:TTC) was upgraded by research analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday,Benzinga reports. The firm presently has a $100.00 price target on the stock. Northland Securities’ price target would indicate a potential upside of 25.05% from the stock’s previous close.

Separately, Raymond James lowered their target price on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Toro has a consensus rating of “Moderate Buy” and an average target price of $93.75.

Toro Price Performance

Shares of NYSE:TTC opened at $79.97 on Monday. The company has a 50-day simple moving average of $81.74 and a 200-day simple moving average of $84.27. Toro has a one year low of $76.95 and a one year high of $100.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81. The stock has a market capitalization of $8.05 billion, a price-to-earnings ratio of 19.94 and a beta of 0.72.

Toro (NYSE:TTC) last issued its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, hitting the consensus estimate of $0.95. Toro had a net margin of 9.14% and a return on equity of 27.25%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts predict that Toro will post 4.41 EPS for the current year.

Toro declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that permits the company to buyback 4,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Toro

Several institutional investors and hedge funds have recently modified their holdings of TTC. Pacer Advisors Inc. grew its stake in shares of Toro by 0.8% during the 4th quarter. Pacer Advisors Inc. now owns 15,298 shares of the company’s stock valued at $1,225,000 after buying an additional 120 shares during the period. Lindenwold Advisors INC grew its stake in shares of Toro by 2.8% during the 3rd quarter. Lindenwold Advisors INC now owns 4,612 shares of the company’s stock valued at $400,000 after buying an additional 125 shares during the period. Lowe Brockenbrough & Co. Inc. grew its stake in shares of Toro by 1.1% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 11,473 shares of the company’s stock valued at $923,000 after buying an additional 127 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Toro by 30.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock valued at $43,000 after buying an additional 127 shares during the period. Finally, Northwest Financial Advisors grew its stake in shares of Toro by 2.0% during the 4th quarter. Northwest Financial Advisors now owns 6,945 shares of the company’s stock valued at $556,000 after buying an additional 139 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

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.