Toro (NYSE:TTC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, December 19th. The brokerage currently has a $72.00 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 7.49% from the stock’s previous close.
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. “
Several other research analysts also recently commented on the stock. Dougherty & Co downgraded shares of Toro from a “buy” rating to a “neutral” rating in a report on Friday, August 25th. BidaskClub downgraded shares of Toro from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Finally, Seaport Global Securities downgraded shares of Toro from a “buy” rating to a “neutral” rating and set a $67.00 price target for the company. in a report on Friday, August 25th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $68.33.
Toro (NYSE:TTC) traded down $0.17 during trading on Tuesday, reaching $66.98. 342,151 shares of the company were exchanged, compared to its average volume of 454,489. Toro has a fifty-two week low of $57.17 and a fifty-two week high of $73.86. The stock has a market cap of $7,160.00, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 2.55 and a beta of 0.61. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.65 and a quick ratio of 1.02.
Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, December 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Toro had a net margin of 10.69% and a return on equity of 44.66%. The business had revenue of $488.60 million during the quarter, compared to analyst estimates of $491.55 million. During the same period in the previous year, the business earned $0.27 EPS. Toro’s revenue was up 4.3% compared to the same quarter last year. equities research analysts anticipate that Toro will post 2.62 earnings per share for the current fiscal year.
In other news, VP Bradley A. Hamilton sold 2,000 shares of Toro stock in a transaction on Friday, December 28th. The shares were sold at an average price of $65.33, for a total transaction 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 approximately $251,585.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David H. Alkire sold 23,000 shares of Toro stock in a transaction on Monday, December 11th. The stock was sold at an average price of $65.83, for a total transaction of $1,514,090.00. Following the sale, the vice president now directly owns 14,769 shares of the company’s stock, valued at $972,243.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,000 shares of company stock valued at $4,814,630. Insiders own 5.69% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings 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 acquiring an additional 11,953 shares during the last quarter. Teachers Advisors LLC lifted its holdings 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 acquiring an additional 91,263 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings 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 acquiring an additional 179,968 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Toro by 1.1% during the 3rd quarter. New York State Common Retirement Fund now owns 363,522 shares of the company’s stock worth $22,560,000 after acquiring an additional 3,862 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of Toro by 13.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 340,944 shares of the company’s stock worth $23,624,000 after acquiring an additional 40,671 shares during the last quarter. 75.87% of the stock is owned by institutional investors.
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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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