Toro (NYSE:TTC) Hits New 1-Year Low – Time to Sell?

The Toro Company (NYSE:TTC)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $71.50 and last traded at $71.98, with a volume of 367222 shares traded. The stock had previously closed at $72.79.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Robert W. Baird dropped their price target on shares of Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Northland Capmk upgraded shares of Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a research report on Monday, February 24th. Raymond James dropped their price target 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. Finally, StockNews.com downgraded shares of Toro from a “buy” rating to a “hold” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Toro has a consensus rating of “Moderate Buy” and an average price target of $89.75.

Toro Stock Down 1.0 %

The firm’s 50 day moving average price is $80.12 and its two-hundred day moving average price is $82.65. The company has a market cap of $7.19 billion, a P/E ratio of 18.00 and a beta of 0.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81.

Toro (NYSE:TTC) last released its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. Toro had a net margin of 9.14% and a return on equity of 27.25%. Toro’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 EPS. Equities research analysts anticipate that The Toro Company will post 4.41 EPS for the current fiscal year.

Toro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.11%. Toro’s dividend payout ratio (DPR) is presently 38.87%.

Toro announced that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that allows the company to buyback 4,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Toro

A number of hedge funds and other institutional investors have recently bought and sold shares of TTC. True Wealth Design LLC increased its stake in Toro by 127.2% during the 4th quarter. True Wealth Design LLC now owns 368 shares of the company’s stock valued at $29,000 after purchasing an additional 206 shares in the last quarter. Asset Planning Inc bought a new stake in Toro during the 4th quarter valued at $31,000. CIBC Private Wealth Group LLC increased its stake in 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 purchasing an additional 127 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Toro by 195.7% during the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock worth $44,000 after acquiring an additional 362 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in Toro by 54.6% during the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock worth $65,000 after acquiring an additional 285 shares during the last quarter. 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.