The Toro Company (NYSE:TTC) Given Average Rating of "Moderate Buy" by Brokerages

The Toro Company (NYSE:TTC - Get Free Report) has been assigned an average rating of "Moderate Buy" from the five ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $89.75.

A number of equities research analysts have commented on TTC shares. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. DA Davidson reduced 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. StockNews.com cut Toro from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Northland Securities raised Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price target on the stock in a research note on Monday, February 24th. Finally, Robert W. Baird lowered 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, March 7th.

Institutional Trading of Toro

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Toro by 29.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,235 shares of the company's stock worth $1,941,000 after purchasing an additional 5,570 shares during the period. Siemens Fonds Invest GmbH bought a new position in Toro during the fourth quarter worth about $138,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Toro in the fourth quarter worth about $4,919,000. B. Riley Wealth Advisors Inc. raised its position in shares of Toro by 17.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 2,822 shares of the company's stock worth $227,000 after purchasing an additional 422 shares during the period. Finally, Liberty Square Wealth Partners LLC bought a new position in shares of Toro during the 4th quarter valued at about $209,000. 87.95% of the stock is owned by institutional investors.

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Toro Price Performance

TTC traded down $5.20 during trading on Friday, hitting $68.65. The company's stock had a trading volume of 271,961 shares, compared to its average volume of 1,087,100. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 17.12 and a beta of 0.72. The firm's 50 day moving average price is $78.34 and its two-hundred day moving average price is $81.76. Toro has a 12 month low of $67.94 and a 12 month high of $100.93.

Toro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.38 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.52 dividend on an annualized basis and a yield of 2.21%. Toro's dividend payout ratio is presently 38.87%.

Toro declared that its board has initiated a stock buyback program on Tuesday, December 10th that authorizes the company to buyback 4,000,000 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

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.