Toro (NYSE:TTC) Price Target Raised to $85.00

Toro (NYSE:TTC) had its target price upped by Robert W. Baird from $84.00 to $85.00 in a research note released on Tuesday,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

A number of other research firms also recently weighed in on TTC. Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. DA Davidson decreased their price target on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Wall Street Zen downgraded Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a research note on Monday, February 24th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Toro Trading Down 3.1%

NYSE:TTC opened at $73.21 on Tuesday. The stock’s 50 day moving average price is $71.04 and its 200 day moving average price is $77.50. Toro has a 52-week low of $62.34 and a 52-week high of $100.93. The company has a market capitalization of $7.31 billion, a PE ratio of 18.26 and a beta of 0.83. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last announced its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04. Toro had a return on equity of 27.25% and a net margin of 9.14%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the business posted $1.40 EPS. The company’s revenue was down 2.3% on a year-over-year basis. On average, research analysts anticipate that Toro will post 4.41 EPS for the current year.

Toro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.52 dividend on an annualized basis and a yield of 2.08%. Toro’s payout ratio is 38.87%.

Institutional Trading of Toro

A number of institutional investors have recently bought and sold shares of the company. Lowe Brockenbrough & Co. Inc. boosted its position in Toro by 1.1% during the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 11,473 shares of the company’s stock worth $923,000 after purchasing an additional 127 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in Toro by 30.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock worth $43,000 after purchasing an additional 127 shares in the last quarter. Savant Capital LLC boosted its position in Toro by 5.0% during the fourth quarter. Savant Capital LLC now owns 3,293 shares of the company’s stock worth $264,000 after purchasing an additional 158 shares in the last quarter. CIBC Asset Management Inc boosted its position in Toro by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 3,216 shares of the company’s stock worth $258,000 after purchasing an additional 164 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Toro by 1.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company’s stock worth $1,033,000 after purchasing an additional 173 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

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.