Toro (NYSE:TTC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday, January 6th. They presently have a $73.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.20% from the company’s current price.
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. “
Toro (NYSE:TTC) traded down $0.38 during trading hours on Friday, reaching $65.65. The company had a trading volume of 335,748 shares, compared to its average volume of 417,998. The firm has a market capitalization of $7,093.46, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 2.54 and a beta of 0.62. Toro has a 52-week low of $58.00 and a 52-week high of $73.86. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.50.
Toro (NYSE:TTC) last issued its earnings results on Thursday, December 7th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Toro had a return on equity of 44.66% and a net margin of 10.69%. The firm had revenue of $488.60 million for the quarter, compared to the consensus estimate of $491.55 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. sell-side analysts anticipate that Toro will post 2.62 earnings per share for the current year.
In other news, VP Timothy P. Dordell sold 46,000 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $66.07, for a total transaction of $3,039,220.00. Following the completion of the sale, the vice president now owns 24,225 shares in the company, valued at approximately $1,600,545.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Bradley A. Hamilton sold 2,000 shares of the company’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $65.33, for a total value of $130,660.00. Following the sale, the vice president now owns 3,851 shares of the company’s stock, valued at approximately $251,585.83. The disclosure for this sale can be found here. Insiders sold 73,000 shares of company stock worth $4,814,630 in the last 90 days. Corporate insiders own 5.69% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in shares of Toro by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,698,237 shares of the company’s stock worth $105,393,000 after purchasing an additional 11,953 shares during the last quarter. First Quadrant L P CA lifted its position in shares of Toro by 10.7% during the 4th quarter. First Quadrant L P CA now owns 490,963 shares of the company’s stock worth $32,026,000 after purchasing an additional 47,550 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of Toro by 23.6% during the 2nd quarter. Teachers Advisors LLC now owns 477,977 shares of the company’s stock worth $33,119,000 after purchasing an additional 91,263 shares during the last quarter. GW&K Investment Management LLC lifted its position in shares of Toro by 0.4% during the 4th quarter. GW&K Investment Management LLC now owns 418,121 shares of the company’s stock worth $27,274,000 after purchasing an additional 1,807 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of Toro by 96.8% during the 2nd quarter. Lord Abbett & CO. LLC now owns 365,950 shares of the company’s stock worth $25,357,000 after purchasing an additional 179,968 shares during the last quarter. 75.30% of the stock is owned by institutional investors and hedge funds.
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Toro Company Profile
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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