Toro Co (TTC) Receives Average Recommendation of “Hold” from Analysts

Shares of Toro Co (NYSE:TTC) have been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $67.00.

Separately, Zacks Investment Research raised Toro from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Tuesday, December 19th.

In other news, VP Timothy P. Dordell sold 46,000 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $66.07, for a total value of $3,039,220.00. Following the completion of the sale, the vice president now directly owns 24,225 shares of the company’s stock, valued at approximately $1,600,545.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bradley A. Hamilton sold 2,000 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $65.33, for a total value of $130,660.00. Following the completion of the sale, the vice president now directly owns 3,851 shares of the company’s stock, valued at $251,585.83. The disclosure for this sale can be found here. Insiders have sold a total of 73,000 shares of company stock valued at $4,814,630 over the last ninety days. 5.69% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of TTC. Fieldpoint Private Securities LLC purchased a new stake in shares of Toro in the 3rd quarter valued at about $172,000. Advisor Partners LLC purchased a new stake in shares of Toro in the 4th quarter valued at about $214,000. Advisory Services Network LLC lifted its holdings in shares of Toro by 17.4% in the 2nd quarter. Advisory Services Network LLC now owns 3,556 shares of the company’s stock valued at $246,000 after purchasing an additional 527 shares during the last quarter. Mckinley Capital Management LLC Delaware lifted its holdings in shares of Toro by 25.3% in the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 6,766 shares of the company’s stock valued at $420,000 after purchasing an additional 1,366 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Toro in the 4th quarter valued at about $508,000. 75.30% of the stock is owned by institutional investors and hedge funds.

Shares of Toro (NYSE:TTC) opened at $66.03 on Wednesday. The stock has a market capitalization of $7,171.29, a PE ratio of 27.40, a price-to-earnings-growth ratio of 2.56 and a beta of 0.62. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. Toro has a fifty-two week low of $58.00 and a fifty-two week high of $73.86.

Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, December 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The company had revenue of $488.60 million during the quarter, compared to the consensus estimate of $491.55 million. Toro had a return on equity of 44.66% and a net margin of 10.69%. Toro’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 EPS. sell-side analysts predict that Toro will post 2.62 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Friday, December 22nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. This is an increase from Toro’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, December 21st. Toro’s payout ratio is 33.20%.

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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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