Toro (NYSE:TTC) Rating Lowered to Hold at StockNews.com

Toro (NYSE:TTC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

TTC has been the topic of several other research reports. Raymond James lowered their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a research report on Monday, February 24th. DA Davidson cut their price objective on Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Robert W. Baird decreased their target price on Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Finally, Northland Capmk raised Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.75.

Toro Stock Performance

TTC opened at $72.17 on Tuesday. The business has a 50 day moving average price of $79.98 and a two-hundred day moving average price of $82.57. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 18.00 and a beta of 0.70. Toro has a 1-year low of $71.50 and a 1-year high of $100.93.

Toro (NYSE:TTC) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. Toro had a return on equity of 27.25% and a net margin of 9.14%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. Research analysts predict that Toro will post 4.41 EPS for the current fiscal year.

Toro declared that its board has authorized a stock repurchase plan on Tuesday, December 10th that allows the company to buyback 4,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Toro

A number of institutional investors have recently bought and sold shares of the business. True Wealth Design LLC increased its holdings in shares of Toro by 127.2% in the 4th quarter. True Wealth Design LLC now owns 368 shares of the company’s stock valued at $29,000 after purchasing an additional 206 shares during the period. Asset Planning Inc purchased a new stake in Toro in the 4th quarter worth approximately $31,000. Venturi Wealth Management LLC boosted its stake in shares of Toro by 195.7% during the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after buying an additional 362 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of Toro by 30.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock valued at $43,000 after acquiring an additional 127 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Toro by 54.6% in the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock worth $65,000 after acquiring an additional 285 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

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.