The Toro Company (NYSE:TTC) Receives $93.75 Consensus PT from Analysts

Shares of The Toro Company (NYSE:TTC) have received an average rating of “Hold” from the four research firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $93.75.

A number of research analysts recently weighed in on TTC shares. Raymond James decreased their target price on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Robert W. Baird decreased their price objective on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, September 6th. DA Davidson dropped their target price on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Finally, Northland Securities reiterated a “market perform” rating and set a $100.00 price objective on shares of Toro in a research note on Friday, September 6th.

Toro Stock Performance

TTC opened at $81.65 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 21.43 and a beta of 0.70. The business’s 50-day moving average price is $83.93 and its two-hundred day moving average price is $87.92. Toro has a 1 year low of $77.15 and a 1 year high of $100.93.

Toro (NYSE:TTC) last released its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 EPS. Equities analysts expect that Toro will post 4.16 EPS for the current fiscal year.

Toro declared that its board has authorized a share repurchase program on Tuesday, December 10th that allows the company to buyback 4,000,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Toro Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 23rd will be paid a $0.38 dividend. This is a positive change from Toro’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $1.52 annualized dividend and a yield of 1.86%. Toro’s dividend payout ratio is currently 37.91%.

Institutional Investors Weigh In On Toro

A number of large investors have recently added to or reduced their stakes in TTC. Allspring Global Investments Holdings LLC boosted its position in Toro by 37,332.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 470,901 shares of the company’s stock worth $44,034,000 after purchasing an additional 469,643 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Toro by 682.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock worth $45,085,000 after buying an additional 420,539 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Toro by 11,970.3% during the 2nd quarter. Millennium Management LLC now owns 393,008 shares of the company’s stock worth $36,750,000 after buying an additional 389,752 shares during the period. Nuance Investments LLC acquired a new position in Toro in the 3rd quarter valued at about $29,146,000. Finally, Marshall Wace LLP bought a new position in Toro in the 2nd quarter valued at about $25,166,000. 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.