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

Toro Co (NYSE:TTC) has been assigned an average rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $67.00.

Several equities research analysts have issued reports on TTC shares. Zacks Investment Research cut Toro from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Dougherty & Co cut Toro from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. Seaport Global Securities cut Toro from a “buy” rating to a “neutral” rating and set a $67.00 target price for the company. in a research note on Friday, August 25th. Finally, BidaskClub cut Toro from a “buy” rating to a “hold” rating in a research note on Monday, July 17th.

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Toro (NYSE TTC) traded up $0.02 during trading hours on Wednesday, hitting $62.97. 326,665 shares of the stock traded hands, compared to its average volume of 496,417. The company has a quick ratio of 1.10, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The company has a market cap of $6,784.01, a price-to-earnings ratio of 26.56, a P/E/G ratio of 2.46 and a beta of 0.61. Toro has a 12 month low of $46.65 and a 12 month high of $73.86.

Toro (NYSE:TTC) last posted its earnings results on Thursday, August 24th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. The company had revenue of $627.90 million during the quarter, compared to analysts’ expectations of $628.08 million. Toro had a return on equity of 43.29% and a net margin of 10.89%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 earnings per share. equities research analysts anticipate that Toro will post 2.39 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Friday, September 29th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.70 annualized dividend and a dividend yield of 1.11%. Toro’s dividend payout ratio is currently 29.54%.

In other news, VP Blake M. Grams sold 8,200 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $60.93, for a total transaction of $499,626.00. Following the completion of the transaction, the vice president now directly owns 8,200 shares in the company, valued at $499,626. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Katherine J. Harless sold 6,000 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $61.88, for a total value of $371,280.00. Following the transaction, the director now owns 77,672 shares of the company’s stock, valued at $4,806,343.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,200 shares of company stock valued at $875,406. Company insiders own 5.69% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTC. Lord Abbett & CO. LLC boosted its position in shares of Toro by 96.8% during the second quarter. Lord Abbett & CO. LLC now owns 365,950 shares of the company’s stock worth $25,357,000 after buying an additional 179,968 shares during the period. Canada Pension Plan Investment Board purchased a new position in Toro in the third quarter valued at $10,811,000. Teachers Advisors LLC boosted its holdings in Toro by 23.6% in the second quarter. Teachers Advisors LLC now owns 477,977 shares of the company’s stock valued at $33,119,000 after purchasing an additional 91,263 shares during the period. State Street Corp boosted its holdings in Toro by 2.4% in the first quarter. State Street Corp now owns 2,864,010 shares of the company’s stock valued at $178,886,000 after purchasing an additional 67,410 shares during the period. Finally, Retirement Systems of Alabama boosted its holdings in Toro by 47.0% in the third quarter. Retirement Systems of Alabama now owns 203,894 shares of the company’s stock valued at $12,654,000 after purchasing an additional 65,203 shares during the period. Institutional investors and hedge funds own 74.95% of the company’s stock.

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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