The Toro Company (NYSE:TTC) Receives Consensus Rating of “Hold” from Brokerages

The Toro Company (NYSE:TTC) has earned a consensus rating of “Hold” from the four analysts that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $98.75.

Separately, Robert W. Baird boosted their price objective on shares of Toro from $90.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, June 7th.

Insider Buying and Selling

In related news, CEO Richard M. Olson sold 20,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $95.19, for a total transaction of $1,903,800.00. Following the sale, the chief executive officer now owns 17,913 shares of the company’s stock, valued at $1,705,138.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.62% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Toro by 0.7% in the first quarter. Vanguard Group Inc. now owns 10,565,128 shares of the company’s stock worth $968,083,000 after buying an additional 73,719 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Toro by 25.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,653,109 shares of the company’s stock valued at $609,626,000 after purchasing an additional 1,332,248 shares during the last quarter. Mairs & Power Inc. raised its holdings in shares of Toro by 0.6% during the fourth quarter. Mairs & Power Inc. now owns 3,225,547 shares of the company’s stock valued at $309,620,000 after purchasing an additional 18,899 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Toro by 11.5% during the first quarter. Champlain Investment Partners LLC now owns 2,725,651 shares of the company’s stock valued at $249,751,000 after purchasing an additional 280,855 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Toro by 73.8% during the fourth quarter. Wellington Management Group LLP now owns 1,845,724 shares of the company’s stock valued at $177,171,000 after purchasing an additional 783,794 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

Toro Price Performance

Shares of NYSE:TTC opened at $95.73 on Thursday. The stock has a market cap of $9.94 billion, a PE ratio of 37.84 and a beta of 0.69. The company’s fifty day moving average is $91.48 and its 200 day moving average is $90.73. Toro has a 52 week low of $77.15 and a 52 week high of $104.70. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.61.

Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, June 6th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. Toro had a net margin of 6.00% and a return on equity of 25.04%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the company earned $1.58 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Research analysts anticipate that Toro will post 4.32 earnings per share for the current year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, June 18th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Tuesday, June 18th. Toro’s payout ratio is 56.92%.

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.