The Toro Company (NYSE:TTC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

The Toro Company (NYSE:TTC) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $89.75.

Several analysts recently issued reports on TTC shares. Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Monday, February 24th. Robert W. Baird decreased their price objective on shares of Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. StockNews.com downgraded shares of Toro from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Raymond James dropped their price objective on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, December 20th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC boosted its stake in shares of Toro by 127.2% in the 4th quarter. True Wealth Design LLC now owns 368 shares of the company’s stock valued at $29,000 after buying an additional 206 shares during the period. Asset Planning Inc purchased a new position in Toro in the fourth quarter worth approximately $31,000. Venturi Wealth Management LLC grew its holdings in Toro by 195.7% during the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock worth $44,000 after acquiring an additional 362 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Toro by 30.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock worth $43,000 after acquiring an additional 127 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Toro by 54.6% in the 4th 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 last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Toro Price Performance

TTC stock opened at $73.29 on Friday. Toro has a 52-week low of $71.23 and a 52-week high of $100.93. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 18.28 and a beta of 0.70. The business has a fifty day moving average of $79.00 and a two-hundred day moving average of $81.97.

Toro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a $0.38 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.07%. Toro’s dividend payout ratio (DPR) is 38.87%.

Toro announced that its Board of Directors has initiated a stock repurchase plan 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 plans are usually an indication that the company’s management believes its shares are undervalued.

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.