Toro Co. (TTC) Sees Large Volume Increase
Toro Co. (NYSE:TTC) shares saw strong trading volume on Tuesday . 502,440 shares traded hands during mid-day trading, an increase of 84% from the previous session’s volume of 272,798 shares.The stock last traded at $94.13 and had previously closed at $94.88.
A number of equities research analysts have commented on the stock. Zacks Investment Research cut shares of Toro from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Seaport Global Securities assumed coverage on shares of Toro in a report on Tuesday, May 24th. They issued a “neutral” rating and a $87.00 price target for the company. Northcoast Research restated a “neutral” rating on shares of Toro in a report on Thursday, June 30th. Finally, Sidoti cut shares of 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. Five equities research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average price target of C$91.33.
The firm has a market cap of $5.18 billion and a PE ratio of 23.88. The firm’s 50-day moving average price is $91.09 and its 200-day moving average price is $86.12.
Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, May 19th. The company reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.10. During the same quarter in the previous year, the firm posted $1.64 earnings per share. The business earned $836.40 million during the quarter, compared to the consensus estimate of $854 million. The company’s revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that Toro Co. will post $4.01 EPS for the current fiscal year.
In related news, CEO Michael J. Hoffman sold 125,600 shares of the company’s stock in a transaction on Thursday, June 30th. The shares were 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 available through this link. Also, Director Christopher A. Twomey sold 5,246 shares of the company’s stock in a transaction on Monday, June 20th. The shares were sold at an average price of C$87.60, for a total transaction of C$459,549.60. Following the sale, the director now owns 5,246 shares of the company’s stock, valued at C$459,549.60. The disclosure for this sale can be found here.
A number of large investors have recently bought and sold shares of TTC. I.G. Investment Management LTD. raised its stake in Toro by 24.2% in the fourth quarter. I.G. Investment Management LTD. now owns 71,900 shares of the company’s stock worth $5,254,000 after buying an additional 14,000 shares in the last quarter. US Bancorp DE increased its position in shares of 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. Advisors Asset Management Inc. increased its position 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. Marshall Wace LLP bought a new position in shares of Toro during the fourth quarter worth about $3,873,000. Finally, Principal Financial Group Inc. increased its position in shares of Toro by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 177,031 shares of the company’s stock worth $12,936,000 after buying an additional 4,575 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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