Toro Co. (TTC) Reaches New 12-Month High at $99.00
Toro Co. (NYSE:TTC)’s share price hit a new 52-week high on Friday . The company traded as high as $99.00 and last traded at $98.12, with a volume of 89,350 shares traded. The stock had previously closed at $98.48.
Several research firms recently commented on TTC. Seaport Global Securities began coverage on shares of Toro in a research report on Tuesday, May 24th. They issued a “neutral” rating and a $87.00 price objective on the stock. Zacks Investment Research cut shares of Toro from a “hold” rating to a “sell” rating in a research report on Tuesday, August 23rd. Northcoast Research reaffirmed a “neutral” rating on shares of Toro in a research 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 objective on the stock. in a research report on Friday, June 10th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of C$91.33.
The stock’s 50 day moving average is $92.98 and its 200 day moving average is $87.31. The firm has a market cap of $5.39 billion and a PE ratio of 24.54. Toro’s stock is set to split on Monday, September 19th. The 2-1 split was announced on Thursday, August 18th. The newly created shares will be issued to shareholders after the closing bell on Friday, September 16th.
Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, August 18th. The company reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.01. The firm had revenue of $601 million for the quarter, compared to analyst estimates of $623.79 million. During the same quarter last year, the company earned $0.94 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Toro Co. will post $4.02 earnings per share for the current fiscal year.
In other news, Director Christopher A. Twomey sold 5,246 shares of the 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 completion of the sale, the director now directly owns 5,246 shares in the company, valued at C$459,549.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of C$10,859,376.00. The disclosure for this sale can be found here.
Other large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. raised 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 valued at $1,143,000 after buying an additional 45 shares in the last quarter. I.G. Investment Management LTD. raised its position 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 valued at $5,254,000 after buying an additional 14,000 shares in the last quarter. Finally, Principal Financial Group Inc. raised 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 valued at $12,936,000 after buying an additional 4,575 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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