Toro Co. (TTC) Sets New 52-Week High at $93.17
Toro Co. (NYSE:TTC) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $93.17 and last traded at $92.98, with a volume of 55,433 shares traded. The stock had previously closed at $92.92.
A number of brokerages have recently issued reports on TTC. Sidoti lowered shares of Toro from a “buy” rating to a “neutral” rating and set a $98.00 target price for the company. in a research note on Friday, June 10th. Zacks Investment Research lowered shares of 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 began coverage on shares of Toro in a research note on Tuesday, May 24th. They set a “neutral” rating and a $87.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of C$91.33.
The stock has a market capitalization of $5.13 billion and a PE ratio of 23.64. The firm’s 50 day moving average is $89.87 and its 200-day moving average is $85.12.
Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, May 19th. The company reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.10. The firm earned $836.40 million during the quarter, compared to analyst estimates of $854 million. During the same period in the prior year, the company posted $1.64 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts anticipate that Toro Co. will post $4.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 12th. Investors of record on Tuesday, June 21st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Friday, June 17th.
In related news, CEO Michael J. Hoffman sold 125,600 shares of the stock in a transaction on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Philip A. Burkart sold 6,600 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 90,388 shares of the company’s stock, valued at C$8,044,532. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently bought and sold shares of TTC. 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 worth $1,143,000 after buying an additional 45 shares during the period. 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 worth $1,161,000 after buying an additional 68 shares during the period. TrimTabs Asset Management LLC bought a new stake in shares of Toro during the fourth quarter worth about $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 worth $2,719,000 after buying an additional 708 shares during the period. 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 worth $2,806,000 after buying an additional 253 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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