Toro Sees Unusually High Options Volume (NYSE:TTC)

by · The Markets Daily

Toro Company (The) (NYSE:TTC – Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 1,176 put options on the company. This represents an increase of 1,709% compared to the average daily volume of 65 put options.

Insider Buying and Selling

In related news, VP Kurt D. Svendsen sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $70.99, for a total value of $425,940.00. Following the completion of the sale, the vice president directly owned 11,646 shares in the company, valued at approximately $826,749.54. The trade was a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Lee Ellis sold 5,038 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $70.81, for a total transaction of $356,740.78. Following the completion of the sale, the director owned 34,062 shares of the company’s stock, valued at approximately $2,411,930.22. The trade was a 12.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TTC. True Wealth Design LLC raised its holdings in Toro by 127.2% in the fourth quarter. True Wealth Design LLC now owns 368 shares of the company’s stock valued at $29,000 after acquiring an additional 206 shares in the last quarter. Brooklyn Investment Group raised its holdings in Toro by 94.1% in the first quarter. Brooklyn Investment Group now owns 495 shares of the company’s stock valued at $36,000 after acquiring an additional 240 shares in the last quarter. Financial Harvest LLC acquired a new stake in Toro in the first quarter valued at $42,000. CIBC Private Wealth Group LLC raised its holdings in Toro by 30.2% in the fourth 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, Allworth Financial LP raised its holdings in Toro by 91.6% in the first quarter. Allworth Financial LP now owns 663 shares of the company’s stock valued at $46,000 after acquiring an additional 317 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Trading Up 1.1%

NYSE TTC opened at $76.00 on Friday. The company’s fifty day simple moving average is $72.92 and its 200-day simple moving average is $75.10. Toro has a 52 week low of $62.34 and a 52 week high of $100.93. The company has a current ratio of 1.81, a quick ratio of 0.79 and a debt-to-equity ratio of 0.73. The stock has a market cap of $7.50 billion, a P/E ratio of 19.49 and a beta of 0.81.

Toro (NYSE:TTC – Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. Toro had a net margin of 8.77% and a return on equity of 27.99%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the company posted $1.40 earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities research analysts predict that Toro will post 4.41 EPS for the current fiscal year.

Toro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.00%. Toro’s payout ratio is currently 38.97%.

Analysts Set New Price Targets

TTC has been the topic of a number of recent research reports. Northland Securities reaffirmed a “market perform” rating and set a $80.00 price target (down from $100.00) on shares of Toro in a research report on Friday, June 6th. Wall Street Zen cut shares of Toro from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Robert W. Baird lifted their price target on shares of Toro from $84.00 to $85.00 and gave the company a “neutral” rating in a research report on Tuesday, June 3rd. DA Davidson set a $76.00 price target on shares of Toro and gave the company a “neutral” rating in a research report on Monday, June 9th. Finally, Northland Capmk cut shares of Toro from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 6th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $82.75.

Get Our Latest Stock Report on TTC

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 Articles