Toro (NYSE:TTC) Stock Rating Lowered by StockNews.com

Toro (NYSE:TTC) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Other research analysts also recently issued reports about the stock. Northland Securities raised shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a research report on Monday, February 24th. Raymond James lowered their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Robert W. Baird lowered their price objective on shares of Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.75.

Toro Trading Down 1.0 %

NYSE TTC opened at $73.44 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74. The firm’s fifty day moving average price is $80.94 and its 200 day moving average price is $83.55. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 18.31 and a beta of 0.70. Toro has a 12 month low of $72.18 and a 12 month high of $100.93.

Toro (NYSE:TTC) last posted its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates of $0.95. Toro had a net margin of 9.14% and a return on equity of 27.25%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm posted $0.71 EPS. The company’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that Toro will post 4.41 earnings per share for the current fiscal year.

Toro announced that its Board of Directors has authorized a stock buyback plan on Tuesday, December 10th that permits the company to repurchase 4,000,000 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Toro

Hedge funds and other institutional investors have recently made changes to their positions in the company. True Wealth Design LLC boosted its holdings in shares of 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. Asset Planning Inc acquired a new stake in shares of Toro in the fourth quarter valued at about $31,000. CIBC Private Wealth Group LLC lifted its stake in shares of 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 during the period. Venturi Wealth Management LLC lifted its stake in shares of Toro by 195.7% in the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after purchasing an additional 362 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in shares of Toro by 54.6% in the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after purchasing an additional 285 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

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.