Toro Co. (TTC) Reaches New 1-Year High at $91.56
Toro Co. (NYSE:TTC) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $91.56 and last traded at $91.38, with a volume of 85,222 shares changing hands. The stock had previously closed at $90.55.
Several brokerages have recently issued reports on TTC. Northcoast Research reiterated a “neutral” rating on shares of Toro in a report on Thursday, June 30th. Sidoti lowered Toro from a “buy” rating to a “neutral” rating and set a $98.00 price target for the company. in a report on Friday, June 10th. Seaport Global Securities began coverage on Toro in a research note on Tuesday, May 24th. They issued a “neutral” rating and a $87.00 price objective on the stock. Finally, Zacks Investment Research downgraded Toro from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. Five research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of C$91.33.
The firm’s 50-day moving average price is $88.36 and its 200 day moving average price is $82.91. The company has a market cap of $5.00 billion and a price-to-earnings ratio of 23.07.
Toro (NYSE:TTC) last announced its earnings results on Thursday, May 19th. The company reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.10. The company had revenue of $836.40 million for the quarter, compared to analyst estimates of $854 million. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 earnings per share. On average, analysts predict that Toro Co. will post $4.02 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 12th. Stockholders of record on Tuesday, June 21st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Friday, June 17th.
In related news, Director Christopher A. Twomey sold 5,246 shares of the business’s stock in a transaction dated Monday, June 20th. The stock was sold at an average price of C$87.60, for a total value of C$459,549.60. Following the completion of the sale, the director now directly owns 5,246 shares of the company’s stock, valued at approximately C$459,549.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Philip A. Burkart sold 6,600 shares of the business’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of C$89.00, for a total value of C$587,400.00. Following the completion of the sale, the vice president now directly owns 90,388 shares of the company’s stock, valued at C$8,044,532. The disclosure for this sale can be found here.
Other hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in shares of Toro by 0.3% in the fourth quarter. Advisors Asset Management Inc. now owns 15,638 shares of the company’s stock worth $1,143,000 after buying an additional 45 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Toro by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,891 shares of the company’s stock worth $1,161,000 after buying an additional 68 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Toro during the fourth quarter worth approximately $1,694,000. Teacher Retirement System of Texas raised its stake in shares of Toro by 292.2% in the fourth quarter. Teacher Retirement System of Texas now owns 26,766 shares of the company’s stock worth $1,956,000 after buying an additional 19,941 shares during the last quarter. Finally, TrimTabs Asset Management LLC purchased a new stake in shares of Toro during the fourth quarter worth approximately $2,172,000.
The Toro Company designs, manufactures and markets professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products. The Company operates through three segments: Professional, Residential and Distribution.
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