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

Shares of The Toro Company (NYSE:TTC - Get Free Report) have been given an average recommendation of "Hold" by the four brokerages that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $93.75.

Several equities analysts have issued reports on TTC shares. DA Davidson lowered their target price on shares of Toro from $103.00 to $88.00 and set a "neutral" rating on the stock in a research note on Monday, September 9th. Northland Securities restated a "market perform" rating and issued a $100.00 target price on shares of Toro in a report on Friday, September 6th. Raymond James decreased their target price on shares of Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a research note on Friday. StockNews.com upgraded Toro from a "hold" rating to a "buy" rating in a research note on Monday, September 9th. Finally, Robert W. Baird lowered their target price on Toro from $102.00 to $92.00 and set a "neutral" rating on the stock in a report on Friday, September 6th.

Toro Stock Up 0.5 %

Toro stock traded up $0.39 on Friday, hitting $81.48. 2,236,320 shares of the stock traded hands, compared to its average volume of 866,112. The business's fifty day simple moving average is $84.18 and its 200 day simple moving average is $88.02. The firm has a market cap of $8.36 billion, a P/E ratio of 21.39 and a beta of 0.70. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. Toro has a 1 year low of $77.15 and a 1 year high of $100.93.

Toro (NYSE:TTC - Get Free Report) last issued its earnings results on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The company's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $0.71 EPS. As a group, sell-side analysts forecast that Toro will post 4.16 earnings per share for the current year.

Toro Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 23rd will be issued a $0.38 dividend. This is a boost from Toro's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 23rd. Toro's dividend payout ratio (DPR) is currently 37.91%.

Toro announced that its board has initiated a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback 4,000,000 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System lifted its stake in shares of Toro by 0.4% during 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 in the last quarter. Lindenwold Advisors INC raised its holdings in Toro by 2.8% during 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 during the period. Toronto Dominion Bank lifted its position in shares of Toro by 1.4% in the second quarter. Toronto Dominion Bank now owns 10,060 shares of the company's stock valued at $941,000 after acquiring an additional 136 shares in the last quarter. CWM LLC boosted its stake in shares of Toro by 15.5% in the third quarter. CWM LLC now owns 1,063 shares of the company's stock worth $92,000 after acquiring an additional 143 shares during the period. Finally, Taylor Frigon Capital Management LLC grew its position in shares of Toro by 1.0% during the third quarter. Taylor Frigon Capital Management LLC now owns 15,201 shares of the company's stock worth $1,318,000 after purchasing an additional 146 shares in the last quarter. Institutional investors 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.