Toro (NYSE:TTC) Price Target Cut to $76.00 by Analysts at DA Davidson

Toro (NYSE:TTC) had its target price cut by DA Davidson from $80.00 to $76.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently weighed in on the stock. Northland Capmk downgraded shares of Toro from a “strong-buy” rating to a “hold” rating in a report on Friday. Wall Street Zen downgraded Toro from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Raymond James lowered their price objective on Toro from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday. Robert W. Baird raised their price objective on shares of Toro from $84.00 to $85.00 and gave the company a “neutral” rating in a report on Tuesday, June 3rd. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $80.00 price target (down from $100.00) on shares of Toro in a report on Friday. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $82.75.

Toro Price Performance

NYSE:TTC opened at $71.51 on Monday. Toro has a one year low of $62.34 and a one year high of $100.93. The stock has a market cap of $7.14 billion, a PE ratio of 17.83 and a beta of 0.83. The stock has a 50 day moving average price of $70.91 and a 200 day moving average price of $77.24. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81.

Toro (NYSE:TTC) last issued its earnings results on Thursday, June 5th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. Toro had a net margin of 9.14% and a return on equity of 27.25%. Toro’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.40 earnings per share. Equities research analysts expect that Toro will post 4.41 EPS for the current fiscal year.

Toro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors 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 dividend yield of 2.13%. The ex-dividend date is Tuesday, June 17th. Toro’s dividend payout ratio is presently 38.97%.

Institutional Trading of Toro

A number of institutional investors have recently modified their holdings of TTC. Inspire Investing LLC raised its position in shares of 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 purchasing an additional 1,033 shares during the last quarter. Modern Wealth Management LLC lifted its position in Toro by 5.8% during the first quarter. Modern Wealth Management LLC now owns 26,186 shares of the company’s stock valued at $1,905,000 after buying an additional 1,442 shares in the last quarter. IFM Investors Pty Ltd grew its stake in Toro by 6.0% during the first quarter. IFM Investors Pty Ltd now owns 21,279 shares of the company’s stock worth $1,548,000 after buying an additional 1,207 shares during the period. Focus Partners Wealth raised its stake in shares of Toro by 191.5% in the 1st quarter. Focus Partners Wealth now owns 7,586 shares of the company’s stock valued at $552,000 after acquiring an additional 4,984 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Toro by 9.8% during the 1st quarter. Empowered Funds LLC now owns 38,840 shares of the company’s stock valued at $2,826,000 after acquiring an additional 3,464 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

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.