Toro (NYSE:TTC) Hits New 52-Week Low - Time to Sell?

The Toro Company (NYSE:TTC - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $71.99 and last traded at $72.12, with a volume of 194824 shares changing hands. The stock had previously closed at $73.25.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Northland Securities raised Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective on the stock in a report on Monday, February 24th. Robert W. Baird decreased their price objective on Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Northland Capmk raised Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Raymond James decreased their price objective on Toro from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, December 20th. Finally, DA Davidson decreased their price target on Toro from $86.00 to $80.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.75.

Toro Trading Up 0.1 %

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 company has a market cap of $7.30 billion, a price-to-earnings ratio of 18.25 and a beta of 0.70. The business has a 50 day simple moving average of $80.37 and a 200 day simple moving average of $82.92.

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

Toro declared that its Board of Directors has initiated a stock repurchase plan 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 plans are usually a sign that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Toro

Several large investors have recently made changes to their positions in the company. True Wealth Design LLC lifted its stake in Toro by 127.2% in the fourth quarter. True Wealth Design LLC now owns 368 shares of the company's stock valued at $29,000 after buying an additional 206 shares during the period. Asset Planning Inc acquired a new position in Toro in the fourth quarter valued at about $31,000. Venturi Wealth Management LLC lifted its stake in Toro by 195.7% in the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock valued at $44,000 after buying an additional 362 shares during the period. CIBC Private Wealth Group LLC lifted its stake 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 buying an additional 127 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in Toro by 54.6% in the fourth 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 period. Institutional investors and hedge funds own 87.95% of the company's stock.

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.