Toro Company (The) (TTC) Receives Average Rating of “Hold” from Brokerages

Toro Company (The) (NYSE:TTC) has received a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $67.00.

A number of research analysts have commented on the company. BidaskClub raised Toro Company (The) from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research lowered Toro Company (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Dougherty & Co lowered Toro Company (The) from a “buy” rating to a “neutral” rating in a research report on Friday, August 25th. Finally, Seaport Global Securities lowered Toro Company (The) from a “buy” rating to a “neutral” rating and set a $67.00 price target for the company. in a research report on Friday, August 25th.

Toro Company (TTC) traded up 0.60% during midday trading on Wednesday, reaching $63.23. The company had a trading volume of 65,227 shares. Toro Company has a one year low of $46.37 and a one year high of $73.86. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 26.70 and a beta of 0.58. The company has a 50-day moving average price of $62.08 and a 200-day moving average price of $66.53.

Toro Company (The) (NYSE:TTC) last released its quarterly earnings results on Thursday, August 24th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $627.90 million during the quarter, compared to analyst estimates of $628.08 million. Toro Company (The) had a return on equity of 45.32% and a net margin of 10.63%. Toro Company (The)’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 EPS. On average, equities analysts expect that Toro Company will post $2.39 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Friday, September 29th were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, September 28th. Toro Company (The)’s payout ratio is 29.54%.

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In other news, Director Katherine J. Harless sold 6,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $61.88, for a total value of $371,280.00. Following the completion of the transaction, the director now owns 77,672 shares of the company’s stock, valued at approximately $4,806,343.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Blake M. Grams sold 8,200 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $60.93, for a total value of $499,626.00. Following the completion of the transaction, the vice president now directly owns 8,200 shares of the company’s stock, valued at approximately $499,626. The disclosure for this sale can be found here. Insiders sold a total of 64,200 shares of company stock valued at $875,406 in the last three months. Corporate insiders own 5.69% of the company’s stock.

Several large investors have recently made changes to their positions in TTC. OppenheimerFunds Inc. raised its position in shares of Toro Company (The) by 6.8% in the 1st quarter. OppenheimerFunds Inc. now owns 9,749 shares of the company’s stock worth $609,000 after acquiring an additional 622 shares in the last quarter. Thrivent Financial For Lutherans raised its position in shares of Toro Company (The) by 8.2% in the 1st quarter. Thrivent Financial For Lutherans now owns 20,300 shares of the company’s stock worth $1,268,000 after acquiring an additional 1,540 shares in the last quarter. KCG Holdings Inc. bought a new position in shares of Toro Company (The) in the 1st quarter worth approximately $543,000. State Street Corp raised its position in shares of Toro Company (The) by 2.4% in the 1st quarter. State Street Corp now owns 2,864,010 shares of the company’s stock worth $178,886,000 after acquiring an additional 67,410 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Toro Company (The) by 26.6% in the 1st quarter. HighTower Advisors LLC now owns 4,883 shares of the company’s stock worth $304,000 after acquiring an additional 1,026 shares in the last quarter. 74.18% of the stock is owned by hedge funds and other institutional investors.

Toro Company (The) Company Profile

The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.

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