DA Davidson Issues Pessimistic Forecast for Toro (NYSE:TTC) Stock Price

Toro (NYSE:TTC - Get Free Report) had its target price decreased by equities researchers at DA Davidson from $86.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. DA Davidson's price target suggests a potential upside of 6.30% from the company's current price.

Several other research analysts have also commented on TTC. Northland Securities raised 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. StockNews.com downgraded Toro from a "buy" rating to a "hold" rating in a report on Friday. Robert W. Baird decreased their price objective on Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a research report on Friday. Raymond James decreased their price objective on Toro from $100.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, December 20th. Finally, Northland Capmk upgraded Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Toro currently has a consensus rating of "Moderate Buy" and an average price target of $89.75.

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Toro Trading Down 2.6 %

TTC stock traded down $1.98 during midday trading on Tuesday, reaching $75.26. The company's stock had a trading volume of 505,326 shares, compared to its average volume of 903,681. The stock has a fifty day simple moving average of $80.88 and a two-hundred day simple moving average of $83.40. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 18.77 and a beta of 0.70. Toro has a 1 year low of $72.18 and a 1 year high of $100.93.

Toro (NYSE:TTC - Get Free Report) last announced its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.09 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. On average, equities research analysts predict that Toro will post 4.41 EPS for the current year.

Toro announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that authorizes the company to buyback 4,000,000 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Institutional Trading of Toro

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Toro by 45.5% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,031,295 shares of the company's stock valued at $563,207,000 after acquiring an additional 2,199,920 shares during the period. Geode Capital Management LLC raised its stake in Toro by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company's stock valued at $169,639,000 after purchasing an additional 29,105 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Toro by 5.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company's stock valued at $95,123,000 after purchasing an additional 60,068 shares in the last quarter. Amundi boosted its position in shares of Toro by 30.3% in the fourth quarter. Amundi now owns 1,121,116 shares of the company's stock worth $89,701,000 after buying an additional 260,746 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Toro by 17.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,100,503 shares of the company's stock valued at $88,152,000 after buying an additional 164,069 shares during the period. Institutional investors and hedge funds 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.

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