Toro (NYSE:TTC) Downgraded to Hold Rating by StockNews.com

Toro (NYSE:TTC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Several other equities research analysts have also weighed in on the company. Robert W. Baird reduced their target price on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a research note on Monday, February 24th. DA Davidson lowered their target price on shares of Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. Finally, Raymond James lowered their price target on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Toro currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.75.

Toro Stock Performance

Shares of TTC opened at $72.17 on Tuesday. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 18.00 and a beta of 0.70. The company’s fifty day moving average is $79.98 and its 200-day moving average is $82.57. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Toro has a 12 month low of $71.50 and a 12 month high of $100.93.

Toro (NYSE:TTC) last posted its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $0.71 earnings per share. Equities analysts expect that Toro will post 4.41 EPS for the current fiscal year.

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 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC grew its position in Toro by 127.2% during the fourth quarter. True Wealth Design LLC now owns 368 shares of the company’s stock worth $29,000 after buying an additional 206 shares in the last quarter. Asset Planning Inc acquired a new position in Toro in the 4th quarter valued at approximately $31,000. CIBC Private Wealth Group LLC lifted its position in shares of Toro by 30.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock worth $43,000 after acquiring an additional 127 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 362 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Toro by 54.6% during the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after purchasing an additional 285 shares during the period. 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.