The Toro Company (NYSE:TTC) Receives $93.75 Consensus Target Price from Brokerages

by · The Markets Daily

The Toro Company (NYSE:TTC – Get Free Report) has received an average rating of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $89.75.

Several research analysts have recently weighed in on the stock. Raymond James decreased their target price on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Robert W. Baird reduced their price objective on shares of Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Northland Capmk upgraded shares of Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. StockNews.com downgraded shares of Toro from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, DA Davidson reduced their price objective on shares of Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday.

Read Our Latest Report on TTC

Institutional Trading of Toro

Institutional investors and hedge funds have recently modified their holdings of the business. True Wealth Design LLC raised its holdings in shares of Toro by 127.2% during the fourth quarter. True Wealth Design LLC now owns 368 shares of the company’s stock worth $29,000 after purchasing an additional 206 shares during the period. Asset Planning Inc acquired a new stake in shares of Toro in the 4th quarter worth about $31,000. Venturi Wealth Management LLC increased its holdings in shares of Toro by 195.7% in the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock worth $44,000 after acquiring an additional 362 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of Toro by 30.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock worth $43,000 after acquiring an additional 127 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in shares of Toro by 54.6% in the 4th 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 period. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Trading Down 2.4 %

Shares of TTC stock opened at $75.41 on Wednesday. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 18.80 and a beta of 0.70. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Toro has a fifty-two week low of $72.18 and a fifty-two week high of $100.93. The firm’s 50 day moving average price is $80.79 and its two-hundred day moving average price is $83.30.

Toro (NYSE:TTC – Get Free Report) last posted its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Toro had a net margin of 9.14% and a return on equity of 27.25%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 earnings per share. On average, analysts anticipate that Toro will post 4.41 EPS for the current year.

Toro announced that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that allows the company to buyback 4,000,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

About Toro

(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.

Featured Stories