StockNews.com Lowers Toro (NYSE:TTC) to Hold

StockNews.com cut shares of Toro (NYSE:TTC – Get Rating) from a buy rating to a hold rating in a report published on Wednesday.

A number of other equities analysts also recently weighed in on TTC. Raymond James raised shares of Toro from a market perform rating to an outperform rating and set a $130.00 price target on the stock in a research note on Friday, December 23rd. Robert W. Baird dropped their target price on Toro from $120.00 to $116.00 in a research report on Thursday, December 22nd.

Toro Trading Down 1.7 %

Shares of NYSE TTC opened at $106.02 on Wednesday. The firm has a market capitalization of $11.06 billion, a PE ratio of 23.25 and a beta of 0.73. Toro has a one year low of $71.86 and a one year high of $117.66. The company has a current ratio of 1.78, a quick ratio of 0.63 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $111.77 and a two-hundred day moving average price of $105.33.

Toro (NYSE:TTC – Get Rating) last posted its quarterly earnings results on Thursday, March 9th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.91 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Toro had a net margin of 10.16% and a return on equity of 36.04%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. As a group, analysts predict that Toro will post 4.9 earnings per share for the current fiscal year.

Insider Transactions at Toro

In other Toro news, VP Blake M. Grams sold 6,199 shares of the stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $114.01, for a total transaction of $706,747.99. Following the transaction, the vice president now directly owns 36,998 shares of the company’s stock, valued at $4,218,141.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Toro news, Director Katherine J. Harless sold 5,104 shares of the stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $113.50, for a total transaction of $579,304.00. Following the transaction, the director now owns 53,364 shares in the company, valued at $6,056,814. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Blake M. Grams sold 6,199 shares of the business’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $114.01, for a total transaction of $706,747.99. Following the completion of the sale, the vice president now owns 36,998 shares of the company’s stock, valued at $4,218,141.98. The disclosure for this sale can be found here. Insiders have sold a total of 51,733 shares of company stock worth $5,805,159 in the last 90 days. 2.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Wipfli Financial Advisors LLC acquired a new stake in shares of Toro in the third quarter valued at about $177,000. Millennium Management LLC increased its position in Toro by 1,983.0% in the 2nd quarter. Millennium Management LLC now owns 462,994 shares of the company’s stock worth $35,090,000 after buying an additional 440,767 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Toro by 2.1% during the third quarter. Nisa Investment Advisors LLC now owns 52,214 shares of the company’s stock worth $4,529,000 after buying an additional 1,079 shares during the last quarter. Commerce Bank boosted its position in shares of Toro by 3.1% in the second quarter. Commerce Bank now owns 49,104 shares of the company’s stock valued at $3,722,000 after acquiring an additional 1,480 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Toro by 990.5% in the third quarter. Canada Pension Plan Investment Board now owns 22,900 shares of the company’s stock worth $1,980,000 after acquiring an additional 20,800 shares during the last quarter. Institutional investors own 85.14% of the company’s stock.

About Toro

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The Toro Co is in the business of designing, manufacturing, marketing, and selling professional turf maintenance equipment and services. It operates through the following segments: Professional and Residential. The Professional segment consists of turf and landscape equipment, rental, specialty, and underground construction equipment, snow & ice management equipment, and irrigation and lighting products.