StockNews.com Downgrades Toro (NYSE:TTC) to Hold

Toro (NYSE:TTC - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Tuesday.

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

Remove Ads

Toro Price Performance

TTC stock traded up $0.03 during mid-day trading on Tuesday, reaching $73.09. The company's stock had a trading volume of 765,641 shares, compared to its average volume of 912,939. The stock has a market cap of $7.30 billion, a PE ratio of 18.17 and a beta of 0.70. The company's 50 day moving average is $79.86 and its two-hundred day moving average is $82.51. Toro has a fifty-two week low of $71.23 and a fifty-two week high of $100.93. 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 - Get Free Report) last issued its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.95. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company earned $0.71 EPS. Equities research analysts expect that Toro will post 4.41 EPS for the current year.

Toro announced that its board has initiated a stock buyback program on Tuesday, December 10th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On Toro

Large investors have recently bought and sold shares of the business. True Wealth Design LLC boosted its position in shares of Toro by 127.2% during the 4th quarter. True Wealth Design LLC now owns 368 shares of the company's stock worth $29,000 after acquiring an additional 206 shares in the last quarter. Asset Planning Inc acquired a new position in Toro in the fourth quarter valued at approximately $31,000. CIBC Private Wealth Group LLC increased its stake in 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 purchasing an additional 127 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Toro by 195.7% during the fourth 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. lifted its position in shares of 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 buying an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company's stock.

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.