Zacks: Analysts Set $45.00 Price Target for Toro Co. (TTC)
Shares of Toro Co. (NYSE:TTC) have been assigned a consensus broker rating score of 3.00 (Hold) from the five analysts that cover the company, Zacks Investment Research reports. Five research analysts have rated the stock with a hold rating.
Brokerages have set a 12-month consensus target price of $45.00 for the company and are anticipating that the company will post $0.22 earnings per share for the current quarter, according to Zacks. Zacks has also given Toro an industry rank of 114 out of 265 based on the ratings given to related companies.
A number of research analysts recently commented on the company. Zacks Investment Research raised Toro from a “sell” rating to a “hold” rating in a research note on Saturday, September 3rd. Northcoast Research reissued a “neutral” rating on shares of Toro in a research note on Thursday, June 30th.
In other news, VP William E. Brown, Jr. sold 6,000 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of C$98.34, for a total transaction of C$590,040.00. Following the transaction, the vice president now directly owns 93,469 shares of the company’s stock, valued at C$9,191,741.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.94% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in TTC. Creative Planning boosted its position in shares of Toro by 2.3% in the second quarter. Creative Planning now owns 1,492 shares of the company’s stock worth $132,000 after buying an additional 33 shares during the period. TLP Group LLC bought a new position in shares of Toro during the second quarter worth about $161,000. Advisory Services Network LLC boosted its position in shares of Toro by 234.5% in the second quarter. Advisory Services Network LLC now owns 1,880 shares of the company’s stock worth $166,000 after buying an additional 1,318 shares during the period. Quantbot Technologies LP bought a new position in shares of Toro during the second quarter worth about $179,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Toro by 917.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,441 shares of the company’s stock worth $215,000 after buying an additional 2,201 shares during the period. 38.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Toro (NYSE:TTC) traded up 0.13% on Monday, hitting $47.24. The stock had a trading volume of 114,483 shares. The firm has a 50 day moving average of $47.45 and a 200-day moving average of $45.32. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 23.67 and a beta of 0.49. Toro has a 1-year low of $32.35 and a 1-year high of $49.50.
Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, August 18th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.01. Toro had a return on equity of 43.50% and a net margin of 9.33%. The company had revenue of $601 million for the quarter, compared to the consensus estimate of $623.79 million. During the same quarter last year, the business posted $0.94 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. Equities analysts predict that Toro will post $2.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Monday, October 3rd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.27%. Toro’s dividend payout ratio (DPR) is currently 29.93%.
Toro Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Toro Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toro Co. and related companies with MarketBeat.com's FREE daily email newsletter.