Toro (NYSE:TTC) Sets New 12-Month Low - Should You Sell?

The Toro Company (NYSE:TTC - Get Free Report) shares hit a new 52-week low on Wednesday . The company traded as low as $71.50 and last traded at $71.98, with a volume of 367222 shares changing hands. The stock had previously closed at $72.79.

Wall Street Analysts Forecast Growth

TTC has been the topic of a number of research analyst reports. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 21st. StockNews.com cut shares of Toro from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Robert W. Baird reduced 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. DA Davidson lowered their target price on Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Finally, Northland Securities raised Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price target for the company in a research note on Monday, February 24th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $89.75.

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Toro Price Performance

The stock's fifty day moving average is $79.77 and its 200-day moving average is $82.31. 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 $7.30 billion, a P/E ratio of 18.23 and a beta of 0.70.

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

Toro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.52 annualized dividend and a yield of 2.08%. Toro's dividend payout ratio (DPR) is presently 38.87%.

Toro announced that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TTC. True Wealth Design LLC lifted its position in 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 during the last quarter. Asset Planning Inc bought a new position in shares of Toro in the fourth quarter worth about $31,000. CIBC Private Wealth Group LLC lifted its position in shares of Toro by 30.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock worth $43,000 after purchasing an additional 127 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Toro by 195.7% during the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock valued at $44,000 after purchasing an additional 362 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in Toro by 54.6% in the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company's stock valued at $65,000 after buying an additional 285 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

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.