Toro (NYSE:TTC) Price Target Cut to $95.00 by Analysts at Raymond James

Toro (NYSE:TTC) had its target price trimmed by Raymond James from $100.00 to $95.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on TTC. Northland Securities restated a “market perform” rating and set a $100.00 target price on shares of Toro in a research report on Friday, September 6th. Robert W. Baird cut their target price on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Finally, DA Davidson lowered their target price on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $93.75.

Toro Stock Up 0.5 %

Shares of TTC stock opened at $81.48 on Friday. The firm’s fifty day moving average price is $84.13 and its two-hundred day moving average price is $88.03. Toro has a 1 year low of $77.15 and a 1 year high of $100.93. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $8.36 billion, a P/E ratio of 21.39 and a beta of 0.70.

Toro (NYSE:TTC) last released its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 earnings per share. On average, equities analysts predict that Toro will post 4.16 EPS for the current fiscal year.

Toro Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 23rd will be issued a dividend of $0.38 per share. This is a boost from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Monday, December 23rd. Toro’s dividend payout ratio (DPR) is currently 37.91%.

Toro announced that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that allows the company to buyback 4,000,000 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Toro

A number of hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its holdings in Toro by 37,332.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 470,901 shares of the company’s stock valued at $44,034,000 after acquiring an additional 469,643 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Toro by 682.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock worth $45,085,000 after acquiring an additional 420,539 shares during the last quarter. Millennium Management LLC boosted its position in Toro by 11,970.3% during the second quarter. Millennium Management LLC now owns 393,008 shares of the company’s stock valued at $36,750,000 after buying an additional 389,752 shares during the period. Nuance Investments LLC bought a new stake in shares of Toro in the 3rd quarter worth approximately $29,146,000. Finally, Marshall Wace LLP bought a new position in shares of Toro during the second quarter valued at approximately $25,166,000. 87.95% of the stock is currently owned by institutional investors.

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.