Toro Co. (TTC) Shares Gap Up to $93.16
Toro Co. (NYSE:TTC) gapped up prior to trading on Wednesday . The stock had previously closed at $93.14, but opened at $93.16. Toro shares last traded at $93.40, with a volume of 41,547 shares changing hands.
A number of equities research analysts have commented on the company. Sidoti cut Toro from a “buy” rating to a “neutral” rating and set a $98.00 price objective for the company. in a research note on Friday, June 10th. Zacks Investment Research cut Toro from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. Northcoast Research reissued a “neutral” rating on shares of Toro in a research note on Thursday, June 30th. Finally, Seaport Global Securities initiated coverage on Toro in a report on Tuesday, May 24th. They issued a “neutral” rating and a $87.00 target price on the stock. Five research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of C$91.33.
The company has a market cap of $5.14 billion and a P/E ratio of 23.70. The firm’s 50-day moving average price is $90.21 and its 200-day moving average price is $85.36.
Toro (NYSE:TTC) last released its earnings results on Thursday, May 19th. The company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.10. The company earned $836.40 million during the quarter, compared to the consensus estimate of $854 million. The company’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $1.64 EPS. Equities research analysts forecast that Toro Co. will post $4.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 12th. Shareholders of record on Tuesday, June 21st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Friday, June 17th.
In other Toro news, CEO Michael J. Hoffman sold 125,600 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of C$86.46, for a total transaction of C$10,859,376.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Philip A. Burkart sold 6,600 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 90,388 shares of the company’s stock, valued at approximately C$8,044,532. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its position in 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 position in 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. TrimTabs Asset Management LLC acquired a new position in Toro during the fourth quarter worth approximately $2,172,000. Mutual of America Capital Management LLC raised its position in Toro by 1.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 37,208 shares of the company’s stock worth $2,719,000 after buying an additional 708 shares during the last quarter. Finally, US Bancorp DE raised its position in Toro by 0.7% in the fourth quarter. US Bancorp DE now owns 38,402 shares of the company’s stock worth $2,806,000 after buying an additional 253 shares during the last quarter.
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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