Toro (NYSE:TTC) Shares Up 4.2% - Here's Why

The Toro Company (NYSE:TTC - Get Free Report) rose 4.2% on Monday . The stock traded as high as $76.33 and last traded at $76.32. Approximately 293,436 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 897,927 shares. The stock had previously closed at $73.25.

Analyst Upgrades and Downgrades

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

Toro Trading Down 2.8 %

The firm has a market cap of $7.38 billion, a P/E ratio of 18.28 and a beta of 0.70. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The business's 50 day moving average is $80.65 and its 200-day moving average is $83.23.

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

Toro declared that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On Toro

Institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC boosted its holdings in 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 purchasing an additional 206 shares during the period. Asset Planning Inc acquired a new stake in shares of Toro during the fourth quarter worth $31,000. Venturi Wealth Management LLC lifted its position in shares of Toro by 195.7% in the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company's stock worth $44,000 after buying an additional 362 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Toro by 30.2% in the 4th 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. grew its position in shares of Toro by 54.6% during 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 owned by institutional investors and hedge funds.

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.