The Toro Company (NYSE:TTC) Receives $89.75 Average Price Target from Brokerages

The Toro Company (NYSE:TTC) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $89.75.

A number of equities research analysts recently issued reports on TTC shares. StockNews.com lowered Toro from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. DA Davidson decreased their price objective on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Robert W. Baird lowered their price target on shares of Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, March 7th. 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, Northland Capmk upgraded shares of Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st.

Hedge Funds Weigh In On Toro

A number of institutional investors and hedge funds have recently bought and sold shares of TTC. Vanguard Group Inc. lifted its stake in shares of Toro by 1.6% in the first quarter. Vanguard Group Inc. now owns 10,495,037 shares of the company’s stock worth $763,514,000 after acquiring an additional 169,865 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Toro by 16.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,187,609 shares of the company’s stock worth $595,649,000 after purchasing an additional 1,156,314 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Toro by 1,184.6% in the 1st quarter. AQR Capital Management LLC now owns 1,963,253 shares of the company’s stock valued at $142,827,000 after purchasing an additional 1,810,429 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Toro by 39.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,534,760 shares of the company’s stock valued at $111,654,000 after purchasing an additional 434,257 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Toro by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company’s stock valued at $95,123,000 after buying an additional 60,068 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Trading Down 2.5%

Shares of Toro stock opened at $74.82 on Monday. The company has a 50-day moving average of $70.72 and a two-hundred day moving average of $78.14. Toro has a 12-month low of $62.34 and a 12-month high of $100.93. 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 stock has a market cap of $7.47 billion, a PE ratio of 18.66 and a beta of 0.83.

Toro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Tuesday, June 17th. Toro’s dividend payout ratio is presently 38.87%.

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.