The Toro Company (NYSE:TTC) Given Consensus Rating of “Hold” by Brokerages

The Toro Company (NYSE:TTCGet Free Report) has been assigned a consensus recommendation of “Hold” from the five research firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $104.00.

Several brokerages have weighed in on TTC. DA Davidson downgraded Toro from a “buy” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $87.00 in a report on Tuesday, December 5th. StockNews.com initiated coverage on Toro in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Robert W. Baird increased their price objective on Toro from $92.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, December 21st.

Check Out Our Latest Stock Report on Toro

Insider Activity

In other news, Director Janet Katherine Cooper sold 939 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $99.05, for a total value of $93,007.95. Following the completion of the sale, the director now owns 1,660 shares of the company’s stock, valued at $164,423. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Toro news, VP Kurt D. Svendsen sold 4,800 shares of the stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $98.27, for a total transaction of $471,696.00. Following the completion of the sale, the vice president now owns 10,752 shares of the company’s stock, valued at approximately $1,056,599.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janet Katherine Cooper sold 939 shares of Toro stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $99.05, for a total transaction of $93,007.95. Following the transaction, the director now owns 1,660 shares of the company’s stock, valued at $164,423. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,399 shares of company stock valued at $729,874. 2.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On Toro

A number of large investors have recently added to or reduced their stakes in TTC. abrdn plc purchased a new position in Toro during the 4th quarter valued at about $247,000. Oliver Lagore Vanvalin Investment Group increased its holdings in Toro by 7.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 6,348 shares of the company’s stock valued at $609,000 after purchasing an additional 429 shares during the period. Daiwa Securities Group Inc. increased its holdings in Toro by 6.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the company’s stock valued at $634,000 after purchasing an additional 400 shares during the period. Quantum Private Wealth LLC increased its holdings in Toro by 11.0% during the 4th quarter. Quantum Private Wealth LLC now owns 6,223 shares of the company’s stock valued at $597,000 after purchasing an additional 618 shares during the period. Finally, SVB Wealth LLC increased its holdings in Toro by 8.3% during the 4th quarter. SVB Wealth LLC now owns 3,410 shares of the company’s stock valued at $327,000 after purchasing an additional 261 shares during the period. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Toro Stock Down 1.6 %

Shares of NYSE TTC opened at $92.48 on Thursday. Toro has a 52 week low of $78.35 and a 52 week high of $117.17. The company has a market cap of $9.61 billion, a price-to-earnings ratio of 29.55 and a beta of 0.75. The company has a quick ratio of 0.75, a current ratio of 1.90 and a debt-to-equity ratio of 0.68. The firm’s fifty day moving average is $90.35 and its 200 day moving average is $90.56.

Toro (NYSE:TTCGet Free Report) last announced its quarterly earnings data on Wednesday, December 20th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.15. The business had revenue of $983.20 million during the quarter, compared to analyst estimates of $973.65 million. Toro had a net margin of 7.24% and a return on equity of 29.60%. The company’s revenue was down 16.1% on a year-over-year basis. During the same period last year, the firm posted $1.11 EPS. On average, equities research analysts expect that Toro will post 4.31 earnings per share for the current year.

Toro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 11th. Shareholders of record on Wednesday, December 27th were issued a $0.36 dividend. This is an increase from Toro’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Tuesday, December 26th. Toro’s payout ratio is currently 46.01%.

Toro Company Profile

(Get Free Report

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.

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Analyst Recommendations for Toro (NYSE:TTC)

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