Raymond James Has Lowered Expectations for Toro (NYSE:TTC) Stock Price

Toro (NYSE:TTC) had its price target decreased by research analysts at Raymond James from $100.00 to $95.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price objective would suggest a potential upside of 16.59% from the company’s previous close.

Other analysts also recently issued research reports about the stock. DA Davidson reduced their price target on shares of Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Northland Securities restated a “market perform” rating and issued a $100.00 price target on shares of Toro in a research report on Friday, September 6th. Finally, Robert W. Baird decreased their price objective on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $93.75.

Toro Stock Performance

Shares of TTC stock opened at $81.48 on Friday. Toro has a one year low of $77.15 and a one year high of $100.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94. The firm’s 50 day moving average price is $84.13 and its 200-day moving average price is $88.09. The firm has a market cap of $8.36 billion, a P/E ratio of 21.39 and a beta of 0.70.

Toro (NYSE:TTC) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. Toro had a return on equity of 25.94% and a net margin of 8.89%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the company earned $0.71 EPS. Toro’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict that Toro will post 4.16 EPS for the current year.

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

Institutional Trading of Toro

A number of hedge funds have recently bought and sold shares of TTC. Arizona State Retirement System raised its position in shares of Toro by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 28,680 shares of the company’s stock worth $2,682,000 after buying an additional 110 shares during the period. Lindenwold Advisors INC raised its holdings in shares of Toro by 2.8% during the 3rd quarter. Lindenwold Advisors INC now owns 4,612 shares of the company’s stock valued at $400,000 after buying an additional 125 shares during the period. Toronto Dominion Bank raised its holdings in shares of Toro by 1.4% during the 2nd quarter. Toronto Dominion Bank now owns 10,060 shares of the company’s stock valued at $941,000 after buying an additional 136 shares during the period. CWM LLC boosted its holdings in Toro by 15.5% in the 3rd quarter. CWM LLC now owns 1,063 shares of the company’s stock worth $92,000 after acquiring an additional 143 shares during the period. Finally, Taylor Frigon Capital Management LLC grew its position in Toro by 1.0% in the third quarter. Taylor Frigon Capital Management LLC now owns 15,201 shares of the company’s stock valued at $1,318,000 after acquiring an additional 146 shares in the last quarter. Institutional investors and hedge funds 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.