Toro (NYSE:TTC) Receives “Market Perform” Rating from Northland Securities

Northland Securities reaffirmed their market perform rating on shares of Toro (NYSE:TTC) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $100.00 target price on the stock.

Separately, Robert W. Baird cut their target price on shares of Toro from $102.00 to $92.00 and set a neutral rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Toro presently has an average rating of Hold and an average target price of $98.00.

Toro Stock Up 0.3 %

Shares of NYSE:TTC opened at $82.04 on Friday. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 32.43 and a beta of 0.69. Toro has a one year low of $77.15 and a one year high of $102.00. The firm has a fifty day moving average price of $91.78 and a two-hundred day moving average price of $90.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.93 and a quick ratio of 0.87.

Toro (NYSE:TTC) last announced its earnings results on Thursday, September 5th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). Toro had a return on equity of 25.04% and a net margin of 6.00%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company earned $0.95 earnings per share. Toro’s revenue was up 6.9% compared to the same quarter last year. Analysts anticipate that Toro will post 4.32 EPS for the current fiscal year.

Insider Transactions at Toro

In related news, CEO Richard M. Olson sold 20,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 17,913 shares in the company, valued at approximately $1,705,138.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.62% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Evoke Wealth LLC purchased a new position in shares of Toro in the 4th quarter valued at approximately $2,479,000. Vanguard Group Inc. boosted its holdings in shares of Toro by 1.0% during the 4th 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 in the last quarter. TD Asset Management Inc grew its position in shares of Toro by 334.2% in the 4th quarter. TD Asset Management Inc now owns 818,260 shares of the company’s stock worth $78,545,000 after buying an additional 629,820 shares during the period. Cim LLC bought a new position in shares of Toro in the 4th quarter worth about $12,882,000. Finally, Boston Trust Walden Corp lifted its position in Toro by 3.0% during the 2nd quarter. Boston Trust Walden Corp now owns 325,053 shares of the company’s stock valued at $30,396,000 after acquiring an additional 9,371 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.