Toro Co. (TTC) Stock Rating Upgraded by Zacks Investment Research
Toro Co. (NYSE:TTC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Toro Company designs, manufactures and markets consumer and professional turf maintenance equipment, snow removal products and irrigation systems and provides landscaping and turf maintenance services. The company manufactures walk-behind power mowers and snowblowers and riding lawn mowers and lawn and garden tractors. The company designs and markets electrical and gas products, professional turf maintenance equipment and turf irrigation products. “
Separately, Dougherty & Co assumed coverage on shares of Toro in a research report on Friday, November 4th. They set a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of C$45.67.
Toro (NYSE:TTC) opened at 52.32 on Tuesday. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 26.21 and a beta of 0.43. The firm’s 50-day moving average price is $47.66 and its 200 day moving average price is $46.05. Toro has a 12-month low of $32.35 and a 12-month high of $53.03.
Toro (NYSE:TTC) last issued its earnings results on Thursday, August 18th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.99 by $0.01. The company earned $601 million during the quarter, compared to analysts’ expectations of $623.79 million. Toro had a net margin of 9.33% and a return on equity of 43.50%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS. On average, equities research analysts expect that Toro will post $2.00 EPS for the current fiscal year.
In related news, VP William E. Brown, Jr. sold 6,000 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of C$98.34, for a total value of C$590,040.00. Following the completion of the sale, the vice president now owns 93,469 shares in the company, valued at approximately C$9,191,741.46. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.94% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in TTC. Sit Investment Associates Inc. raised its position in shares of Toro by 100.0% in the third quarter. Sit Investment Associates Inc. now owns 2,230 shares of the company’s stock worth $104,000 after buying an additional 1,115 shares during the last quarter. NEXT Financial Group Inc raised its position in shares of Toro by 439.0% in the third quarter. NEXT Financial Group Inc now owns 2,226 shares of the company’s stock worth $104,000 after buying an additional 1,813 shares during the last quarter. Physicians Financial Services Inc. raised its position in shares of Toro by 100.0% in the third quarter. Physicians Financial Services Inc. now owns 2,540 shares of the company’s stock worth $118,000 after buying an additional 1,270 shares during the last quarter. MSI Financial Services Inc raised its position in shares of Toro by 12.6% in the third quarter. MSI Financial Services Inc now owns 2,718 shares of the company’s stock worth $127,000 after buying an additional 304 shares during the last quarter. Finally, Creative Planning raised 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 last quarter. 51.58% of the stock is owned by hedge funds and other institutional investors.
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.
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