Zurcher Kantonalbank Zurich Cantonalbank Acquires 25,561 Shares of The Toro Company (NYSE:TTC)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in The Toro Company (NYSE:TTC - Free Report) by 68.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,762 shares of the company's stock after buying an additional 25,561 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Toro worth $5,027,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTC. Asset Planning Inc purchased a new stake in shares of Toro in the fourth quarter worth about $31,000. Venturi Wealth Management LLC increased its position in Toro by 195.7% in 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 during the last quarter. First Horizon Advisors Inc. raised its stake in Toro by 54.6% during the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company's stock valued at $65,000 after purchasing an additional 285 shares in the last quarter. PrairieView Partners LLC lifted its position in Toro by 14.7% during the fourth quarter. PrairieView Partners LLC now owns 1,547 shares of the company's stock valued at $123,000 after purchasing an additional 198 shares during the last quarter. Finally, Eagle Bay Advisors LLC grew its stake in shares of Toro by 87.2% in the 4th quarter. Eagle Bay Advisors LLC now owns 1,657 shares of the company's stock worth $133,000 after buying an additional 772 shares in the last quarter. Institutional investors own 87.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TTC shares. Northland Capmk upgraded shares of Toro from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 21st. DA Davidson dropped their target price on Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Raymond James cut 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. Northland Securities upgraded shares of Toro from a "market perform" rating to an "outperform" rating and set a $100.00 target price for the company in a report on Monday, February 24th. Finally, Robert W. Baird cut their price target 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. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.75.

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Toro Trading Down 0.6 %

Shares of NYSE:TTC traded down $0.42 on Tuesday, hitting $72.80. 778,299 shares of the company's stock were exchanged, compared to its average volume of 907,678. The business's 50 day simple moving average is $80.23 and its two-hundred day simple moving average is $82.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 18.16 and a beta of 0.70. The Toro Company has a 12 month low of $71.03 and a 12 month high of $100.93.

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

Toro declared that its board has initiated a share repurchase program on Tuesday, December 10th that permits the company to buyback 4,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often 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.