Toro (NYSE:TTC) Hits New 1-Year Low – What’s Next?

The Toro Company (NYSE:TTC)’s share price hit a new 52-week low on Thursday . The stock traded as low as $71.99 and last traded at $72.12, with a volume of 194824 shares changing hands. The stock had previously closed at $73.25.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Raymond James cut their target price on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Robert W. Baird dropped their price objective on Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Northland Securities raised Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a research note on Monday, February 24th. StockNews.com downgraded Toro from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, DA Davidson dropped their price objective on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.75.

Toro Stock Down 1.9 %

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81. The stock has a 50 day moving average price of $80.65 and a 200 day moving average price of $83.23. The company has a market cap of $7.17 billion, a P/E ratio of 17.92 and a beta of 0.70.

Toro (NYSE:TTC) last issued its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (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 return on equity of 27.25% and a net margin of 9.14%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 EPS. Research analysts expect that The Toro Company will post 4.41 earnings per share for the current fiscal year.

Toro declared that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that authorizes the company to repurchase 4,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Toro

A number of hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. grew its stake in Toro by 0.8% in the fourth quarter. Pacer Advisors Inc. now owns 15,298 shares of the company’s stock valued at $1,225,000 after purchasing an additional 120 shares in the last quarter. Lindenwold Advisors INC grew its stake in Toro by 2.8% in the third quarter. Lindenwold Advisors INC now owns 4,612 shares of the company’s stock valued at $400,000 after purchasing an additional 125 shares in the last quarter. Lowe Brockenbrough & Co. Inc. grew its stake in Toro by 1.1% in the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 11,473 shares of the company’s stock valued at $923,000 after purchasing an additional 127 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake 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 purchasing an additional 127 shares in the last quarter. Finally, Northwest Financial Advisors lifted its position in shares of Toro by 2.0% in the fourth quarter. Northwest Financial Advisors now owns 6,945 shares of the company’s stock worth $556,000 after buying an additional 139 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.