Toro (NYSE:TTC) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Toro (NYSE:TTC) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Several other brokerages also recently weighed in on TTC. Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Monday, February 24th. Raymond James dropped their price objective on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, December 20th. DA Davidson dropped their price objective on Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Robert W. Baird dropped their price objective on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Toro presently has a consensus rating of “Moderate Buy” and an average target price of $89.75.

Toro Trading Up 1.2 %

Shares of TTC opened at $73.16 on Tuesday. The stock has a fifty day moving average of $79.86 and a two-hundred day moving average of $82.51. 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 company has a market capitalization of $7.30 billion, a PE ratio of 18.24 and a beta of 0.70. Toro has a fifty-two week low of $71.23 and a fifty-two week high of $100.93.

Toro (NYSE:TTC) last issued its quarterly earnings results 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 the consensus estimate of $1.09 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. Toro’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 EPS. As a group, analysts forecast that Toro will post 4.41 EPS for the current year.

Toro announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase 4,000,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Toro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.38 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.52 annualized dividend and a yield of 2.08%. Toro’s dividend payout ratio is currently 38.87%.

Institutional Trading of Toro

Large investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC increased its holdings in Toro by 127.2% in 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 purchased a new position in Toro in the 4th quarter valued at about $31,000. Venturi Wealth Management LLC boosted its position in Toro by 195.7% in the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after buying an additional 362 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Toro by 30.2% in 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 last quarter. Finally, First Horizon Advisors Inc. boosted its position in Toro by 54.6% in the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after buying an additional 285 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Toro Company Profile

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.