Toro (NYSE:TTC) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Toro (NYSE:TTC) from a hold rating to a sell rating in a research report report published on Tuesday, Zacks.com reports.

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. “

Separately, ValuEngine raised Toro from a hold rating to a buy rating in a research report on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Toro has an average rating of Hold and a consensus target price of $69.00.

NYSE TTC opened at $68.09 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $7.26 billion, a P/E ratio of 25.50 and a beta of 0.84. Toro has a 1 year low of $52.97 and a 1 year high of $75.13.

Toro (NYSE:TTC) last posted its earnings results on Thursday, May 23rd. The company reported $1.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.04). The business had revenue of $962.00 million during the quarter, compared to the consensus estimate of $987.80 million. Toro had a return on equity of 40.99% and a net margin of 10.62%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. As a group, analysts anticipate that Toro will post 2.93 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Tuesday, June 25th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, June 24th. This represents a $0.90 annualized dividend and a yield of 1.32%. Toro’s payout ratio is 33.71%.

In other Toro news, Director Janet Katherine Cooper sold 1,941 shares of Toro stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $68.31, for a total transaction of $132,589.71. Following the sale, the director now directly owns 1,268 shares of the company’s stock, valued at approximately $86,617.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard W. Rodier sold 6,000 shares of Toro stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $68.45, for a total value of $410,700.00. Following the sale, the vice president now directly owns 28,395 shares in the company, valued at $1,943,637.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,941 shares of company stock worth $679,190. Insiders own 2.36% of the company’s stock.

A number of institutional investors have recently bought and sold shares of TTC. Oregon Public Employees Retirement Fund boosted its position in Toro by 5,488.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,329,525 shares of the company’s stock valued at $42,000 after acquiring an additional 2,287,837 shares in the last quarter. Norges Bank purchased a new position in shares of Toro during the fourth quarter valued at approximately $52,686,000. Barclays PLC lifted its holdings in shares of Toro by 367.2% during the fourth quarter. Barclays PLC now owns 843,121 shares of the company’s stock valued at $47,112,000 after purchasing an additional 662,671 shares during the last quarter. FMR LLC lifted its holdings in shares of Toro by 105.2% during the first quarter. FMR LLC now owns 724,513 shares of the company’s stock valued at $49,875,000 after purchasing an additional 371,518 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its holdings in shares of Toro by 37.8% during the first quarter. King Luther Capital Management Corp now owns 966,956 shares of the company’s stock valued at $66,565,000 after purchasing an additional 265,340 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Toro Company Profile

The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.

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