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

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

A number of other analysts have also commented on the stock. Robert W. Baird reduced their price target on shares of 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 note on Monday, September 9th. Northland Securities reissued a “market perform” rating and issued a $100.00 target price on shares of Toro in a research report on Friday, September 6th. Finally, DA Davidson cut their target price on shares of Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Toro has an average rating of “Hold” and an average price target of $93.75.

Toro Stock Up 0.5 %

NYSE:TTC opened at $81.48 on Friday. The firm has a 50-day simple moving average of $84.13 and a two-hundred day simple moving average of $88.03. The firm has a market cap of $8.36 billion, a P/E ratio of 21.39 and a beta of 0.70. Toro has a fifty-two week low of $77.15 and a fifty-two week high of $100.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94.

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

Toro announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback 4,000,000 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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 given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.87%. This is an increase from Toro’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, December 23rd. Toro’s payout ratio is presently 37.91%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TTC. Select Equity Group L.P. boosted its holdings in Toro by 1.6% during the 2nd quarter. Select Equity Group L.P. now owns 5,519,407 shares of the company’s stock valued at $516,120,000 after acquiring an additional 88,536 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Toro by 1.4% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,766,046 shares of the company’s stock worth $445,673,000 after buying an additional 65,800 shares in the last quarter. Geode Capital Management LLC raised its holdings in Toro by 1.5% in the third 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Toro by 13.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 901,346 shares of the company’s stock worth $84,279,000 after acquiring an additional 110,330 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Toro by 11.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 618,986 shares of the company’s stock valued at $53,685,000 after acquiring an additional 64,660 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other 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.