Toro Co (TTC) Receives $55.25 Consensus Target Price from Analysts
Toro Co (NYSE:TTC) has received an average recommendation of “Hold” from the six analysts that are covering the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $55.25.
Several equities analysts have commented on TTC shares. Longbow Research cut shares of Toro from a “neutral” rating to an “underperform” rating and set a $44.00 price target for the company. in a research report on Monday, December 12th. Zacks Investment Research cut shares of Toro from a “hold” rating to a “sell” rating in a research report on Thursday, December 1st. Dougherty & Co reissued a “buy” rating and issued a $65.00 price target (up previously from $60.00) on shares of Toro in a research report on Friday, February 24th. Finally, Seaport Global Securities raised shares of Toro from a “neutral” rating to a “buy” rating and raised their price target for the company from $56.00 to $63.00 in a research report on Friday, January 13th.
Shares of Toro (NYSE:TTC) opened at 61.80 on Thursday. The stock’s 50 day moving average is $60.07 and its 200-day moving average is $53.56. Toro has a one year low of $40.42 and a one year high of $62.49. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 29.12 and a beta of 0.48.
Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, February 23rd. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.05. Toro had a net margin of 9.66% and a return on equity of 42.97%. The company earned $515.80 million during the quarter, compared to analysts’ expectations of $502.45 million. During the same quarter last year, the company posted $0.70 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that Toro will post $2.31 EPS for the current fiscal year.
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In other news, Chairman Michael J. Hoffman sold 225,223 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $61.00, for a total value of $13,738,603.00. Following the sale, the chairman now directly owns 1,383,889 shares in the company, valued at approximately $84,417,229. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert C. Buhrmaster sold 8,000 shares of the firm’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $56.82, for a total transaction of $454,560.00. Following the completion of the sale, the director now owns 16,305 shares in the company, valued at $926,450.10. The disclosure for this sale can be found here. Insiders sold a total of 293,186 shares of company stock worth $17,600,896 over the last 90 days. Company insiders own 5.69% of the company’s stock.
Several large investors have recently made changes to their positions in TTC. Capstone Asset Management Co. raised its stake in shares of Toro by 103.0% in the third quarter. Capstone Asset Management Co. now owns 85,977 shares of the company’s stock worth $4,027,000 after buying an additional 43,621 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of Toro by 95.2% in the third quarter. Eagle Asset Management Inc. now owns 70,639 shares of the company’s stock worth $3,308,000 after buying an additional 34,453 shares during the last quarter. Creative Planning raised its stake in shares of Toro by 100.1% in the third quarter. Creative Planning now owns 2,986 shares of the company’s stock worth $140,000 after buying an additional 1,494 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Toro by 104.0% in the third quarter. Fisher Asset Management LLC now owns 1,815,332 shares of the company’s stock worth $85,030,000 after buying an additional 925,662 shares during the last quarter. Finally, Cobiz Investment Management LLC raised its stake in shares of Toro by 98.6% in the third quarter. Cobiz Investment Management LLC now owns 104,255 shares of the company’s stock worth $4,883,000 after buying an additional 51,752 shares during the last quarter. Institutional investors and hedge funds own 77.81% of the company’s stock.
Toro Company Profile
The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.
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