Robert W. Baird Issues Positive Forecast for Toro (NYSE:TTC) Stock Price

Toro (NYSE:TTC) had its price objective lifted by Robert W. Baird from $84.00 to $85.00 in a research note released on Tuesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research report on Monday, February 24th. Wall Street Zen cut shares of Toro from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Northland Capmk upgraded shares of Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. Finally, DA Davidson dropped their price target on shares of Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Toro Price Performance

Shares of TTC opened at $76.64 on Tuesday. Toro has a 1-year low of $62.34 and a 1-year high of $100.93. The stock has a market cap of $7.65 billion, a PE ratio of 19.11 and a beta of 0.83. The firm has a 50-day simple moving average of $70.99 and a two-hundred day simple moving average of $77.57. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Tuesday, June 17th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.98%. The ex-dividend date is Tuesday, June 17th. Toro’s dividend payout ratio (DPR) is presently 38.87%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC grew its holdings in Toro by 32.1% during the 1st quarter. Inspire Investing LLC now owns 4,247 shares of the company’s stock worth $309,000 after acquiring an additional 1,033 shares in the last quarter. Modern Wealth Management LLC grew its holdings in Toro by 5.8% during the 1st quarter. Modern Wealth Management LLC now owns 26,186 shares of the company’s stock worth $1,905,000 after acquiring an additional 1,442 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in Toro by 6.0% during the 1st quarter. IFM Investors Pty Ltd now owns 21,279 shares of the company’s stock worth $1,548,000 after acquiring an additional 1,207 shares in the last quarter. Focus Partners Wealth grew its holdings in Toro by 191.5% during the 1st quarter. Focus Partners Wealth now owns 7,586 shares of the company’s stock worth $552,000 after acquiring an additional 4,984 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Toro by 9.8% during the 1st quarter. Empowered Funds LLC now owns 38,840 shares of the company’s stock worth $2,826,000 after acquiring an additional 3,464 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

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.