Toro Co. (TTC) Reaches New 52-Week High at $93.17
Toro Co. (NYSE:TTC) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $93.17 and last traded at $92.98, with a volume of 55,433 shares. The stock had previously closed at $92.92.
TTC has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Toro from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. Seaport Global Securities initiated coverage on shares of Toro in a research report on Tuesday, May 24th. They set a “neutral” rating and a $87.00 target price on the stock. Sidoti lowered shares of Toro from a “buy” rating to a “neutral” rating and set a $98.00 target price on the stock. in a research report on Friday, June 10th. Finally, Northcoast Research restated a “neutral” rating on shares of Toro in a research report on Thursday, June 30th. Five research analysts have rated the stock with a hold rating, Toro presently has a consensus rating of “Hold” and a consensus target price of C$91.33.
The firm has a 50-day moving average of $90.21 and a 200 day moving average of $85.36. The company has a market cap of $5.14 billion and a P/E ratio of 23.70.
Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, May 19th. The company reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.10. The business earned $836.40 million during the quarter, compared to the consensus estimate of $854 million. During the same quarter in the previous year, the business posted $1.64 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts anticipate 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. Stockholders of record on Tuesday, June 21st were given a $0.30 dividend. The ex-dividend date was Friday, June 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.28%.
In other news, CEO Michael J. Hoffman sold 125,600 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of C$86.46, for a total value of C$10,859,376.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP William E. Brown, Jr. sold 9,932 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of C$87.96, for a total transaction of C$873,618.72. Following the completion of the transaction, the vice president now owns 100,915 shares in the company, valued at C$8,876,483.40. The disclosure for this sale can be found here.
A number of hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. increased 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 valued at $1,143,000 after buying an additional 45 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased 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 valued at $1,161,000 after buying an additional 68 shares in the last quarter. TrimTabs Asset Management LLC purchased a new stake in shares of Toro during the fourth quarter valued at $2,172,000. Mutual of America Capital Management LLC increased its stake in shares of Toro by 1.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 37,208 shares of the company’s stock valued at $2,719,000 after buying an additional 708 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Toro by 0.7% in the fourth quarter. US Bancorp DE now owns 38,402 shares of the company’s stock valued at $2,806,000 after buying an additional 253 shares in 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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