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 during mid-day trading on Thursday . The company traded as low as $67.94 and last traded at $68.52, with a volume of 264749 shares trading hands. The stock had previously closed at $73.85.

Analysts Set New Price Targets

TTC has been the subject of a number of research analyst reports. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Raymond James reduced their price objective on Toro from $100.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, December 20th. DA Davidson cut their price target on Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Northland Securities raised shares of Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective on the stock in a research note on Monday, February 24th. Finally, StockNews.com cut shares of Toro from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $89.75.

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Toro Price Performance

The company's 50 day simple moving average is $77.10 and its 200-day simple moving average is $81.32. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 15.80 and a beta of 0.72.

Toro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Monday, March 31st. Toro's dividend payout ratio (DPR) is 38.87%.

Toro declared that its board has approved a stock buyback plan on Tuesday, December 10th that allows the company to repurchase 4,000,000 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

Institutional Trading of Toro

Hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC boosted its position in shares of Toro by 127.2% in the fourth 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 purchased a new position in shares of Toro in the 4th quarter worth $31,000. CIBC Private Wealth Group LLC boosted its holdings in Toro by 30.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company's stock valued at $43,000 after acquiring an additional 127 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Toro by 195.7% during the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock worth $44,000 after acquiring an additional 362 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Toro by 81.2% in the 1st quarter. Versant Capital Management Inc now owns 868 shares of the company's stock valued at $63,000 after purchasing an additional 389 shares in the last quarter. 87.95% of the stock is 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.