Inspire Advisors LLC Acquires New Stake in The Toro Company (NYSE:TTC)

Inspire Advisors LLC acquired a new stake in The Toro Company (NYSE:TTC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,021 shares of the company's stock, valued at approximately $402,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TTC. Asset Planning Inc acquired a new position in Toro during the 4th quarter worth $31,000. Venturi Wealth Management LLC grew its stake 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 purchasing an additional 362 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Toro by 54.6% during the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company's stock worth $65,000 after purchasing an additional 285 shares in the last quarter. PrairieView Partners LLC grew its stake in Toro by 14.7% during the 4th quarter. PrairieView Partners LLC now owns 1,547 shares of the company's stock worth $123,000 after purchasing an additional 198 shares in the last quarter. Finally, Eagle Bay Advisors LLC grew its stake in Toro by 87.2% during the 4th quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company's stock worth $133,000 after purchasing an additional 772 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company's stock.

Toro Stock Down 2.8 %

TTC opened at $73.30 on Thursday. The business's 50-day simple moving average is $80.65 and its 200-day simple moving average is $83.23. 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 Toro Company has a one year low of $72.18 and a one year high of $100.93. The stock has a market capitalization of $7.38 billion, a P/E ratio of 18.28 and a beta of 0.70.

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Toro (NYSE:TTC - Get Free Report) last posted its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, hitting analysts' consensus estimates of $0.95. Toro had a return on equity of 27.25% and a net margin of 9.14%. The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. Analysts anticipate that The Toro Company will post 4.41 EPS for the current year.

Toro announced that its board has approved a share buyback program on Tuesday, December 10th that permits the company to buyback 4,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently commented on TTC. Northland Capmk raised Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. DA Davidson decreased their price target on Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday. Robert W. Baird decreased their price target on Toro from $88.00 to $84.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Raymond James decreased their price target on Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, December 20th. Finally, Northland Securities raised Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price target for the company in a report on Monday, February 24th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $89.75.

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.

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