Raymond James Lowers Toro (NYSE:TTC) Price Target to $95.00

Toro (NYSE:TTC - Free Report) had its price target decreased by Raymond James from $100.00 to $95.00 in a research note published on Friday,Benzinga reports. Raymond James currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Toro from a "hold" rating to a "buy" rating in a research report on Monday, September 9th. Northland Securities restated a "market perform" rating and set a $100.00 price target on shares of Toro in a report on Friday, September 6th. DA Davidson decreased their price objective on Toro from $103.00 to $88.00 and set a "neutral" rating on the stock in a report on Monday, September 9th. Finally, Robert W. Baird cut their target price on Toro from $102.00 to $92.00 and set a "neutral" rating for the company in a research note on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $93.75.

Toro Price Performance

Shares of NYSE TTC traded up $0.39 during mid-day trading on Friday, reaching $81.48. The company's stock had a trading volume of 2,236,320 shares, compared to its average volume of 866,112. The stock has a market capitalization of $8.36 billion, a P/E ratio of 21.39 and a beta of 0.70. Toro has a 1-year low of $77.15 and a 1-year high of $100.93. The stock has a 50-day moving average of $84.18 and a two-hundred day moving average of $88.02. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94.

Toro (NYSE:TTC - Get Free Report) last released its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, hitting analysts' consensus estimates of $0.95. Toro had a net margin of 8.89% and a return on equity of 25.94%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company posted $0.71 EPS. The business's revenue was up 9.4% on a year-over-year basis. On average, equities research analysts anticipate that Toro will post 4.16 EPS for the current fiscal year.

Toro announced that its board has initiated a stock buyback plan on Tuesday, December 10th that permits the company to repurchase 4,000,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Toro Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 23rd will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.87%. This is a boost from Toro's previous quarterly dividend of $0.36. The ex-dividend date is Monday, December 23rd. Toro's dividend payout ratio is 37.91%.

Institutional Trading of Toro

Hedge funds have recently made changes to their positions in the business. Arizona State Retirement System boosted its stake in shares of Toro by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 28,680 shares of the company's stock valued at $2,682,000 after buying an additional 110 shares during the period. Lindenwold Advisors INC raised its holdings in Toro by 2.8% in the third quarter. Lindenwold Advisors INC now owns 4,612 shares of the company's stock valued at $400,000 after acquiring an additional 125 shares in the last quarter. Toronto Dominion Bank lifted its stake in Toro by 1.4% in the second quarter. Toronto Dominion Bank now owns 10,060 shares of the company's stock worth $941,000 after acquiring an additional 136 shares during the last quarter. CWM LLC grew its holdings in Toro by 15.5% during the 3rd quarter. CWM LLC now owns 1,063 shares of the company's stock worth $92,000 after acquiring an additional 143 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC increased its position in shares of Toro by 1.0% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 15,201 shares of the company's stock valued at $1,318,000 after purchasing an additional 146 shares during the last quarter. 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.