Brokerages Set The Toro Company (NYSE:TTC) Target Price at $105.60

The Toro Company (NYSE:TTC) has earned an average rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $105.60.

Several research analysts recently weighed in on the company. TheStreet upgraded Toro from a “c+” rating to a “b-” rating in a research report on Thursday, February 15th. DA Davidson increased their price objective on Toro from $93.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Robert W. Baird increased their target price on Toro from $92.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, December 21st. Finally, StockNews.com lowered Toro from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th.

Toro Price Performance

NYSE:TTC opened at $84.53 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average of $90.69 and a two-hundred day moving average of $88.83. The firm has a market cap of $8.83 billion, a P/E ratio of 30.85 and a beta of 0.72. Toro has a 12 month low of $78.35 and a 12 month high of $108.50.

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

Toro Announces Dividend

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

Insider Activity at Toro

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Orion Capital Management LLC purchased a new stake in Toro in the 3rd quarter worth approximately $25,000. VisionPoint Advisory Group LLC grew its stake in Toro by 135.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 302 shares of the company’s stock worth $25,000 after acquiring an additional 174 shares during the period. Fortitude Family Office LLC purchased a new stake in Toro in the 4th quarter worth approximately $26,000. Rise Advisors LLC grew its stake in Toro by 2,057.1% in the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after acquiring an additional 288 shares during the period. Finally, Fred Alger Management LLC purchased a new stake in Toro in the 4th quarter worth approximately $29,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Toro Company Profile

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.