Investors Purchase High Volume of Put Options on Toro (NYSE:TTC)

The Toro Company (NYSE:TTCGet Rating) saw some unusual options trading on Wednesday. Stock investors acquired 1,176 put options on the company. This is an increase of approximately 1,709% compared to the typical daily volume of 65 put options.

A number of analysts have recently issued reports on the company. StockNews.com initiated coverage on Toro in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Robert W. Baird decreased their target price on shares of Toro from $120.00 to $110.00 in a research report on Monday, February 28th. Finally, Zacks Investment Research cut shares of Toro from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, Toro has a consensus rating of “Hold” and a consensus price target of $95.67.

In other Toro news, VP Richard W. Rodier sold 3,600 shares of the stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $85.95, for a total value of $309,420.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in TTC. Sageworth Trust Co of South Dakota purchased a new position in Toro in the fourth quarter worth $30,000. Quadrant Capital Group LLC raised its position in Toro by 58.0% in the fourth quarter. Quadrant Capital Group LLC now owns 316 shares of the company’s stock worth $32,000 after acquiring an additional 116 shares in the last quarter. City State Bank purchased a new position in Toro in the fourth quarter worth $33,000. Kings Point Capital Management purchased a new position in Toro in the third quarter worth $41,000. Finally, Tobam increased its position in shares of Toro by 44.1% in the first quarter. Tobam now owns 523 shares of the company’s stock valued at $45,000 after buying an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 82.56% of the company’s stock.

TTC stock opened at $76.61 on Thursday. The company has a market capitalization of $8.01 billion, a P/E ratio of 22.40 and a beta of 0.72. Toro has a twelve month low of $75.89 and a twelve month high of $115.68. The business has a 50 day simple moving average of $83.62 and a 200-day simple moving average of $93.03. The company has a current ratio of 1.46, a quick ratio of 0.61 and a debt-to-equity ratio of 0.89.

Toro (NYSE:TTCGet Rating) last issued its quarterly earnings results on Thursday, March 3rd. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. Toro had a return on equity of 31.17% and a net margin of 9.16%. The firm had revenue of $932.70 million during the quarter, compared to the consensus estimate of $972.07 million. During the same period last year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Research analysts predict that Toro will post 4.04 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 13th. Shareholders of record on Wednesday, June 22nd will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.57%. Toro’s payout ratio is 35.09%.

About Toro (Get Rating)

The Toro Company engages in the designing, manufacturing, marketing, and selling professional and residential equipment worldwide. The company's 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; and snow and ice management equipment, such as snowplows, brush, snow thrower attachment, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.

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