Toro Co. (TTC) Reaches New 12-Month High at $99.00
Toro Co. (NYSE:TTC) shares hit a new 52-week high on Friday . The stock traded as high as $99.00 and last traded at $98.12, with a volume of 89,350 shares changing hands. The stock had previously closed at $98.48.
Several brokerages recently weighed in on TTC. Seaport Global Securities began coverage on Toro in a research report on Tuesday, May 24th. They set a “neutral” rating and a $87.00 price target for the company. Northcoast Research reiterated a “neutral” rating on shares of Toro in a research report on Thursday, June 30th. Zacks Investment Research cut Toro from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Sidoti cut Toro from a “buy” rating to a “neutral” rating and set a $98.00 price target for the company. in a research report on Friday, June 10th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of C$91.33.
The firm has a market cap of $5.37 billion and a P/E ratio of 24.45. The company’s 50 day moving average is $92.77 and its 200 day moving average is $87.11. Toro’s stock is set to split on the morning of Monday, September 19th. The 2-1 split was announced on Thursday, August 18th. The newly minted shares will be distributed to shareholders after the closing bell on Friday, September 16th.
Toro (NYSE:TTC) last announced its earnings results on Thursday, August 18th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. The firm earned $601 million during the quarter, compared to analyst estimates of $623.79 million. During the same period last year, the company earned $0.94 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Toro Co. will post $4.02 EPS for the current year.
In related news, CEO Michael J. Hoffman sold 125,600 shares of the company’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of C$86.46, for a total value of C$10,859,376.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher A. Twomey sold 5,246 shares of the company’s stock in a transaction dated Monday, June 20th. The shares were 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 C$459,549.60. The disclosure for this sale can be found here.
Several hedge funds have recently made changes to their positions in TTC. I.G. Investment Management LTD. boosted its stake in shares of 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 during the period. Advisors Asset Management Inc. boosted 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 period. Finally, Principal Financial Group Inc. boosted its stake 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 period.
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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