Toro (NYSE:TTC) Given New $84.00 Price Target at Robert W. Baird

Toro (NYSE:TTC) had its price target cut by Robert W. Baird from $88.00 to $84.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued reports about the stock. Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Northland Securities raised shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 target price for the company in a research note on Monday, February 24th. Finally, Raymond James lowered their target price on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Toro presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.75.

Toro Trading Down 1.0 %

TTC stock opened at $73.44 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Toro has a twelve month low of $72.18 and a twelve month high of $100.93. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 18.31 and a beta of 0.72. The firm’s fifty day simple moving average is $80.94 and its two-hundred day simple moving average is $83.59.

Toro (NYSE:TTC) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. Toro had a net margin of 9.14% and a return on equity of 27.25%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $0.71 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that Toro will post 4.41 earnings per share for the current year.

Toro declared that its board has initiated a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback 4,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Toro Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 23rd were issued a $0.38 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 2.07%. Toro’s payout ratio is currently 37.91%.

Hedge Funds Weigh In On Toro

Several hedge funds have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC boosted its position in Toro by 45.5% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,031,295 shares of the company’s stock worth $563,207,000 after purchasing an additional 2,199,920 shares in the last quarter. Geode Capital Management LLC boosted its stake in Toro by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company’s stock worth $169,639,000 after purchasing an additional 29,105 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Toro by 5.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company’s stock worth $95,123,000 after buying an additional 60,068 shares in the last quarter. Amundi grew its holdings in shares of Toro by 30.3% during the fourth quarter. Amundi now owns 1,121,116 shares of the company’s stock worth $89,701,000 after buying an additional 260,746 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Toro by 17.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,100,503 shares of the company’s stock worth $88,152,000 after buying an additional 164,069 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Company Profile

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.