Toro (NYSE:TTC) Stock Price Down 5.9% – Should You Sell?

The Toro Company (NYSE:TTC) was down 5.9% on Thursday . The stock traded as low as $74.12 and last traded at $73.38. Approximately 273,490 shares were traded during trading, a decline of 69% from the average daily volume of 890,845 shares. The stock had previously closed at $78.01.

Analyst Ratings Changes

TTC has been the topic of a number of research reports. Northland Securities raised shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Monday, February 24th. Raymond James dropped their target price on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Finally, Northland Capmk raised Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.75.

Toro Price Performance

The company’s fifty day simple moving average is $81.24 and its 200-day simple moving average is $83.76. The stock has a market cap of $7.43 billion, a P/E ratio of 18.41 and a beta of 0.72. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. Toro had a net margin of 9.14% and a return on equity of 27.25%. As a group, sell-side analysts forecast that The Toro Company will post 4.41 EPS for the current year.

Toro Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 23rd were paid a $0.38 dividend. This is a positive change from Toro’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, December 23rd. This represents a $1.52 annualized dividend and a yield of 2.06%. Toro’s payout ratio is currently 37.91%.

Toro announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to repurchase 4,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Toro

Large investors have recently bought and sold shares of the stock. True Wealth Design LLC boosted its position in Toro by 127.2% in the fourth quarter. True Wealth Design LLC now owns 368 shares of the company’s stock valued at $29,000 after buying an additional 206 shares in the last quarter. Asset Planning Inc acquired a new stake in shares of Toro in the fourth quarter valued at $31,000. CIBC Private Wealth Group LLC raised its holdings in shares of Toro by 30.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock valued at $43,000 after buying an additional 127 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Toro by 195.7% during the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock worth $44,000 after acquiring an additional 362 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in Toro by 54.6% in the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after acquiring an additional 285 shares in the last quarter. 87.95% of the stock is currently owned by 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.