Toro (NYSE:TTC) Upgraded to “Buy” at Longbow Research

Longbow Research upgraded shares of Toro (NYSE:TTC) from a neutral rating to a buy rating in a report published on Monday morning, MarketBeat Ratings reports. Longbow Research currently has $100.00 target price on the stock.

Several other equities analysts have also recently issued reports on TTC. Northland Securities reaffirmed a “market perform” rating and issued a $80.00 price objective (down from $100.00) on shares of Toro in a research report on Friday, June 6th. Raymond James Financial decreased their target price on Toro from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, June 6th. Northland Capmk cut shares of Toro from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 6th. DA Davidson set a $76.00 price target on shares of Toro and gave the stock a “neutral” rating in a research note on Monday, June 9th. Finally, Robert W. Baird boosted 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. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.60.

Toro Stock Performance

Shares of TTC stock opened at $82.51 on Monday. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 21.16 and a beta of 0.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.79 and a current ratio of 1.81. Toro has a one year low of $62.34 and a one year high of $93.00. The company’s 50-day moving average is $74.05 and its 200 day moving average is $73.51.

Toro (NYSE:TTC) last issued its earnings results on Thursday, June 5th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.02. Toro had a net margin of 8.77% and a return on equity of 27.99%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm posted $1.40 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. Toro has set its FY 2025 guidance at 4.150-4.300 EPS. Sell-side analysts expect that Toro will post 4.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gary Lee Ellis sold 5,038 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total value of $356,740.78. Following the completion of the sale, the director directly owned 34,062 shares in the company, valued at $2,411,930.22. This represents a 12.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Kurt D. Svendsen sold 6,000 shares of the firm’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $70.99, for a total value of $425,940.00. Following the completion of the transaction, the vice president directly owned 11,646 shares in the company, valued at approximately $826,749.54. This represents a 34.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Toro

A number of hedge funds and other institutional investors have recently bought and sold shares of TTC. AQR Capital Management LLC lifted its position in shares of Toro by 1,184.6% during the 1st quarter. AQR Capital Management LLC now owns 1,963,253 shares of the company’s stock valued at $142,827,000 after buying an additional 1,810,429 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake 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 acquiring an additional 1,156,314 shares during the period. Boston Trust Walden Corp raised its stake in Toro by 133.3% during the 1st quarter. Boston Trust Walden Corp now owns 779,419 shares of the company’s stock worth $56,703,000 after acquiring an additional 445,287 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Toro by 39.5% during the first 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, The Manufacturers Life Insurance Company boosted its position in shares of Toro by 411.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 464,609 shares of the company’s stock worth $37,215,000 after purchasing an additional 373,736 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Toro Company Profile

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.