The Toro Company (NYSE:TTC) Receives $105.60 Average Price Target from Analysts

The Toro Company (NYSE:TTC) has been given a consensus rating of “Hold” by the five research firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $105.60.

TTC has been the topic of several analyst reports. TheStreet raised shares of Toro from a “c+” rating to a “b-” rating in a research report on Thursday, February 15th. StockNews.com downgraded shares of Toro from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Finally, DA Davidson increased their target price on shares of Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th.

Insider Buying and Selling at Toro

In other Toro news, Director Gary Lee Ellis sold 5,192 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the sale, the director now directly owns 33,051 shares in the company, valued at $2,933,276.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Edric C. Funk sold 615 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $89.57, for a total value of $55,085.55. Following the completion of the sale, the vice president now owns 1,049 shares in the company, valued at $93,958.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gary Lee Ellis sold 5,192 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the sale, the director now owns 33,051 shares of the company’s stock, valued at approximately $2,933,276.25. The disclosure for this sale can be found here. Corporate insiders own 1.62% of the company’s stock.

Institutional Investors Weigh In On Toro

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Toro by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 10,491,409 shares of the company’s stock valued at $1,007,070,000 after buying an additional 103,300 shares during the period. BlackRock Inc. lifted its stake in shares of Toro by 9.7% in the first quarter. BlackRock Inc. now owns 10,234,812 shares of the company’s stock valued at $1,137,702,000 after buying an additional 903,088 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Toro by 2.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,320,861 shares of the company’s stock valued at $510,750,000 after buying an additional 151,811 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Toro by 25.0% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,180,246 shares of the company’s stock valued at $347,378,000 after buying an additional 835,637 shares during the period. Finally, State Street Corp raised its position in Toro by 0.4% in the second quarter. State Street Corp now owns 3,350,616 shares of the company’s stock worth $341,733,000 after purchasing an additional 12,777 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

Toro Trading Up 0.7 %

NYSE TTC opened at $85.11 on Tuesday. Toro has a 1-year low of $78.35 and a 1-year high of $108.50. The company has a current ratio of 2.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $8.89 billion, a PE ratio of 31.06 and a beta of 0.72. The firm’s fifty day simple moving average is $90.20 and its 200-day simple moving average is $88.81.

Toro (NYSE:TTC) last posted its earnings results on Thursday, March 7th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion. Toro had a return on equity of 26.66% and a net margin of 6.53%. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. As a group, sell-side analysts anticipate that Toro will post 4.3 earnings per share for the current fiscal year.

Toro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Thursday, March 28th. Toro’s dividend payout ratio (DPR) is 52.55%.

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.