Toro (NYSE:TTC) Trading Down 4.6% – Here’s Why

Toro Company (The) (NYSE:TTC) fell 4.6% during mid-day trading on Thursday . The company traded as low as $93.83 and last traded at $94.5870. 210,731 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 818,020 shares. The stock had previously closed at $99.15.

Wall Street Analyst Weigh In

Several analysts have issued reports on TTC shares. Weiss Ratings raised shares of Toro from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Robert W. Baird reduced their target price on shares of Toro from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Toro has an average rating of “Hold” and an average target price of $102.33.

Toro Stock Performance

The stock has a 50-day simple moving average of $96.36 and a 200-day simple moving average of $95.04. The stock has a market cap of $8.82 billion, a P/E ratio of 26.69 and a beta of 0.70. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.56 and a quick ratio of 0.74.

Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.31 by $0.02. Toro had a net margin of 7.29% and a return on equity of 31.13%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Research analysts forecast that Toro Company will post 4.6 earnings per share for the current year.

Insider Buying and Selling at Toro

In related news, VP Kurt D. Svendsen sold 6,600 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $93.09, for a total value of $614,394.00. Following the completion of the sale, the vice president directly owned 12,166 shares in the company, valued at $1,132,532.94. This represents a 35.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gary Lee Ellis sold 4,951 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $91.91, for a total value of $455,046.41. Following the transaction, the director directly owned 35,297 shares of the company’s stock, valued at approximately $3,244,147.27. This represents a 12.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 12,934 shares of company stock worth $1,204,933. 1.88% of the stock is currently owned by company insiders.

Institutional Trading of Toro

Several institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. bought a new stake in shares of Toro in the 1st quarter valued at $39,000. Danske Bank A S acquired a new position in shares of Toro during the third quarter worth approximately $46,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Toro by 237.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 769 shares of the company’s stock valued at $75,000 after buying an additional 541 shares in the last quarter. Root Financial Partners LLC lifted its position in Toro by 277.8% in the 1st quarter. Root Financial Partners LLC now owns 971 shares of the company’s stock valued at $91,000 after acquiring an additional 714 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Toro during the third quarter valued at approximately $119,000. 87.95% of the stock is currently owned by institutional investors.

About Toro

The Toro Company (NYSE: TTC) specializes in the design, manufacture and marketing of a broad range of outdoor environment equipment for residential, commercial and professional markets. Its product portfolio includes lawn mowers, utility vehicles, snow throwers, irrigation systems and landscape maintenance equipment. Toro’s offerings span walk-behind and ride-on mowers, zero-turn radius mowers, snow blowers, sprinklers, drip irrigation products, spreaders and specialty turf maintenance machines tailored to golf courses, sports fields and municipal parks.

Founded in 1914 and headquartered in Bloomington, Minnesota, Toro has built a century-long legacy of innovation in the grounds-care industry.