Toro (TTC) Downgraded to Hold at Zacks Investment Research

Toro (NYSE:TTC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday, January 6th. They presently have a $73.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 8.99% from the stock’s current price.

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. “

Shares of Toro (NYSE TTC) opened at $66.98 on Friday. The company has a market capitalization of $7,159.57, a PE ratio of 27.86, a P/E/G ratio of 2.57 and a beta of 0.62. Toro has a 52-week low of $57.17 and a 52-week high of $73.86. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.65.

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

In other news, VP Bradley A. Hamilton sold 2,000 shares of Toro stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $65.33, for a total value of $130,660.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David H. Alkire sold 23,000 shares of Toro stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $65.83, for a total value of $1,514,090.00. Following the completion of the transaction, the vice president now directly owns 14,769 shares in the company, valued at $972,243.27. The disclosure for this sale can be found here. Insiders sold a total of 73,000 shares of company stock worth $4,814,630 over the last ninety days. Corporate insiders own 5.69% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC lifted its position in Toro by 17.4% during the 2nd quarter. Advisory Services Network LLC now owns 3,556 shares of the company’s stock worth $246,000 after acquiring an additional 527 shares in the last quarter. Flinton Capital Management LLC lifted its position in Toro by 6.9% during the 2nd quarter. Flinton Capital Management LLC now owns 10,880 shares of the company’s stock worth $754,000 after acquiring an additional 704 shares in the last quarter. Mckinley Capital Management LLC Delaware lifted its position in Toro by 25.3% during the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 6,766 shares of the company’s stock worth $420,000 after acquiring an additional 1,366 shares in the last quarter. Comerica Bank increased its holdings in Toro by 1.3% during the 3rd quarter. Comerica Bank now owns 143,851 shares of the company’s stock worth $8,990,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its holdings in Toro by 24.8% during the 3rd quarter. Wedge Capital Management L L P NC now owns 10,412 shares of the company’s stock worth $646,000 after purchasing an additional 2,071 shares during the last quarter. 75.87% of the stock is currently owned by hedge funds and other institutional investors.

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About Toro

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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