Zacks Investment Research upgraded shares of Toro Company (The) (NYSE:TTC) from a hold rating to a buy rating in a research note released on Thursday, July 13th. The firm currently has $79.00 price objective on the stock.

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. “

A number of other research analysts have also recently issued reports on the company. BidaskClub upgraded Toro Company (The) from a hold rating to a buy rating in a research report on Tuesday, July 11th. Longbow Research upgraded Toro Company (The) from an underperform rating to a neutral rating in a research report on Monday, May 22nd. Finally, Cleveland Research upgraded Toro Company (The) from a neutral rating to a buy rating in a research report on Thursday, March 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Toro Company (The) has an average rating of Buy and an average price target of $62.75.

Shares of Toro Company (NYSE:TTC) traded up 0.61% on Thursday, reaching $72.81. 391,838 shares of the company traded hands. The company has a market capitalization of $7.86 billion, a P/E ratio of 32.39 and a beta of 0.56. The firm’s 50 day moving average is $70.90 and its 200 day moving average is $64.82. Toro Company has a one year low of $44.90 and a one year high of $73.00.

Toro Company (The) (NYSE:TTC) last released its earnings results on Thursday, May 25th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.05. Toro Company (The) had a return on equity of 44.74% and a net margin of 10.23%. The firm had revenue of $872.77 million for the quarter, compared to analysts’ expectations of $863.17 million. During the same quarter in the previous year, the business posted $1.89 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts expect that Toro Company will post $2.37 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Toro Company (The) (TTC) Upgraded to “Buy” at Zacks Investment Research” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright and trademark law. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/08/07/zacks-investment-research-upgrades-toro-company-the-ttc-to-buy-updated-updated-updated.html.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Friday, June 23rd were issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Wednesday, June 21st. Toro Company (The)’s dividend payout ratio (DPR) is currently 30.97%.

In other news, VP William E. Brown, Jr. sold 19,332 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $70.88, for a total transaction of $1,370,252.16. Following the sale, the vice president now directly owns 189,790 shares in the company, valued at $13,452,315.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Kurt D. Svendsen sold 6,340 shares of the business’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $69.08, for a total value of $437,967.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,872 shares of company stock worth $5,119,937. Company insiders own 5.69% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. NEXT Financial Group Inc raised its position in Toro Company (The) by 2.4% in the first quarter. NEXT Financial Group Inc now owns 2,787 shares of the company’s stock worth $181,000 after buying an additional 66 shares in the last quarter. Advisory Services Network LLC bought a new position in Toro Company (The) during the first quarter worth approximately $189,000. Tocqueville Asset Management L.P. bought a new position in Toro Company (The) during the second quarter worth approximately $212,000. Advisor Partners LLC bought a new position in Toro Company (The) during the second quarter worth approximately $212,000. Finally, Stonebridge Capital Advisors LLC bought a new position in Toro Company (The) during the first quarter worth approximately $208,000. 76.01% of the stock is currently owned by institutional investors.

Toro Company (The) 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.

Get a free copy of the Zacks research report on Toro Company (The) (TTC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for Toro Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toro Company (The) and related stocks with our FREE daily email newsletter.