DA Davidson Brokers Cut Earnings Estimates for The Toro Company (NYSE:TTC)

The Toro Company (NYSE:TTC) – Equities researchers at DA Davidson dropped their FY2024 EPS estimates for shares of Toro in a note issued to investors on Tuesday, September 10th. DA Davidson analyst M. Shlisky now expects that the company will post earnings per share of $4.15 for the year, down from their prior forecast of $4.30. DA Davidson currently has a “Neutral” rating and a $88.00 target price on the stock. The consensus estimate for Toro’s current full-year earnings is $4.18 per share. DA Davidson also issued estimates for Toro’s Q4 2024 earnings at $0.97 EPS and FY2025 earnings at $4.56 EPS.

Toro (NYSE:TTC) last posted its earnings results on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). Toro had a return on equity of 25.94% and a net margin of 8.89%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird reduced their target price on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Northland Securities reissued a “market perform” rating and issued a $100.00 price objective on shares of Toro in a research note on Friday, September 6th. Finally, StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Toro currently has a consensus rating of “Hold” and an average target price of $93.33.

Toro Stock Up 0.2 %

Shares of NYSE TTC opened at $82.78 on Wednesday. Toro has a 52-week low of $77.15 and a 52-week high of $102.00. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59. The company’s 50-day simple moving average is $91.38 and its 200-day simple moving average is $89.86. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 32.72 and a beta of 0.69.

Insider Activity at Toro

In related news, CEO Richard M. Olson sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 17,913 shares of the company’s stock, valued at approximately $1,705,138.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.62% of the stock is owned by insiders.

Institutional Investors Weigh In On Toro

Several large investors have recently bought and sold shares of TTC. UMB Bank n.a. increased its holdings in shares of Toro by 1,204.8% in the 1st quarter. UMB Bank n.a. now owns 274 shares of the company’s stock valued at $25,000 after acquiring an additional 253 shares during the last quarter. Rise Advisors LLC grew its position in shares of Toro by 2,057.1% in the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock valued at $28,000 after buying an additional 288 shares during the last quarter. Principal Securities Inc. acquired a new stake in Toro during the 4th quarter worth $66,000. Headlands Technologies LLC purchased a new stake in Toro in the first quarter valued at $66,000. Finally, Covestor Ltd boosted its stake in Toro by 522.6% in the first quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after acquiring an additional 601 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

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.