The Toro Company (NYSE:TTC) Receives $93.75 Consensus Target Price from Brokerages

Shares of The Toro Company (NYSE:TTC - Get Free Report) have received an average rating of "Hold" from the four brokerages that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $93.75.

Separately, Raymond James dropped their price objective on shares of Toro from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, December 20th.

Hedge Funds Weigh In On Toro

Several hedge funds have recently bought and sold shares of TTC. Modern Wealth Management LLC boosted its stake in shares of Toro by 5.1% in the 4th quarter. Modern Wealth Management LLC now owns 25,168 shares of the company's stock valued at $2,015,000 after purchasing an additional 1,214 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Toro by 211.7% in the 4th quarter. Prudential Financial Inc. now owns 105,202 shares of the company's stock valued at $8,517,000 after purchasing an additional 71,452 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Toro by 33.6% in the 4th quarter. LPL Financial LLC now owns 57,435 shares of the company's stock valued at $4,601,000 after purchasing an additional 14,433 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Toro in the 4th quarter valued at approximately $3,933,000. Finally, Sei Investments Co. boosted its position in Toro by 54.5% during the 4th quarter. Sei Investments Co. now owns 212,972 shares of the company's stock worth $17,059,000 after buying an additional 75,147 shares during the period. 87.95% of the stock is owned by institutional investors.

Toro Stock Up 0.1 %

TTC traded up $0.08 during trading hours on Friday, hitting $80.15. 593,805 shares of the company's stock were exchanged, compared to its average volume of 759,196. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of 19.99 and a beta of 0.72. 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's 50-day moving average is $82.89 and its two-hundred day moving average is $85.05. Toro has a 1-year low of $76.95 and a 1-year high of $100.93.

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

Toro declared that its board has approved a stock repurchase plan on Tuesday, December 10th that permits the company to repurchase 4,000,000 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Toro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 23rd were issued a $0.38 dividend. This is a positive change from Toro's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Monday, December 23rd. Toro's dividend payout ratio (DPR) is currently 37.91%.

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.