The Toro Company (NYSE:TTC) Receives $105.60 Consensus PT from Brokerages

The Toro Company (NYSE:TTC) has received an average recommendation of “Hold” from the five brokerages that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $105.60.

Several research firms recently weighed in on TTC. StockNews.com cut shares of Toro from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. TheStreet raised shares of Toro from a “c+” rating to a “b-” rating in a research report on Thursday, February 15th. DA Davidson lifted their price objective on shares of Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Finally, Robert W. Baird lifted their price objective on shares of Toro from $92.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, December 21st.

Insiders Place Their Bets

In other Toro news, Director Gary Lee Ellis sold 5,192 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the transaction, the director now owns 33,051 shares of the company’s stock, valued at $2,933,276.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Gary Lee Ellis sold 5,192 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $88.75, for a total transaction of $460,790.00. Following the sale, the director now directly owns 33,051 shares in the company, valued at $2,933,276.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Edric C. Funk sold 615 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $89.57, for a total value of $55,085.55. Following the sale, the vice president now owns 1,049 shares in the company, valued at $93,958.93. The disclosure for this sale can be found here. Insiders own 1.62% of the company’s stock.

Hedge Funds Weigh In On Toro

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can raised its position in shares of Toro by 1.2% during the first quarter. Bank of Montreal Can now owns 49,173 shares of the company’s stock worth $4,262,000 after purchasing an additional 563 shares during the period. APG Asset Management N.V. raised its position in shares of Toro by 37.2% during the first quarter. APG Asset Management N.V. now owns 15,500 shares of the company’s stock worth $1,191,000 after purchasing an additional 4,200 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Toro by 7.6% during the first quarter. Great West Life Assurance Co. Can now owns 60,366 shares of the company’s stock worth $5,309,000 after purchasing an additional 4,269 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Toro by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 883,779 shares of the company’s stock worth $75,558,000 after purchasing an additional 23,223 shares during the period. Finally, Baird Financial Group Inc. raised its position in shares of Toro by 9.2% during the first quarter. Baird Financial Group Inc. now owns 37,193 shares of the company’s stock worth $3,180,000 after purchasing an additional 3,144 shares during the period. 87.95% of the stock is currently owned by institutional investors.

Toro Stock Performance

Shares of TTC stock opened at $84.53 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 2.13. The company has a market capitalization of $8.83 billion, a P/E ratio of 30.85 and a beta of 0.72. The company’s 50 day moving average price is $90.69 and its two-hundred day moving average price is $88.83. Toro has a 52 week low of $78.35 and a 52 week high of $108.50.

Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Toro had a net margin of 6.53% and a return on equity of 26.66%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the business earned $0.98 earnings per share. Toro’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, analysts expect that Toro will post 4.3 earnings per share for the current fiscal year.

Toro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, March 28th. Toro’s payout ratio is 52.55%.

About Toro

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.