Toro (NYSE:TTC) Posts Earnings Results, Beats Expectations By $0.02 EPS

Toro (NYSE:TTCGet Free Report) announced its quarterly earnings results on Thursday. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.02, FiscalAI reports. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion. Toro had a net margin of 7.29% and a return on equity of 31.13%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 EPS.

Toro Stock Performance

Shares of NYSE:TTC opened at $99.26 on Thursday. The company has a current ratio of 1.56, a quick ratio of 0.74 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average price of $96.36 and a 200-day moving average price of $95.04. The company has a market cap of $9.45 billion, a price-to-earnings ratio of 28.60 and a beta of 0.70. Toro has a 12 month low of $67.64 and a 12 month high of $105.18.

Insider Activity

In other news, Director Gary Lee Ellis sold 4,951 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 35,297 shares of the company’s stock, valued at $3,244,147.27. The trade was a 12.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Edric C. Funk sold 856 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $97.97, for a total value of $83,862.32. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,934 shares of company stock worth $1,204,933 in the last quarter. 1.88% of the stock is owned by company insiders.

Institutional Trading of Toro

Several institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of Toro by 37.4% during the first quarter. Goldman Sachs Group Inc. now owns 456,861 shares of the company’s stock worth $33,237,000 after purchasing an additional 124,373 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its stake in Toro by 425.6% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 64,783 shares of the company’s stock valued at $5,100,000 after acquiring an additional 52,457 shares in the last quarter. Horizon Investments LLC increased its position in Toro by 88.4% during the third quarter. Horizon Investments LLC now owns 29,392 shares of the company’s stock worth $2,229,000 after purchasing an additional 13,789 shares during the last quarter. Russell Investments Group Ltd. raised its position in Toro by 11.0% in the third quarter. Russell Investments Group Ltd. now owns 125,215 shares of the company’s stock valued at $9,541,000 after purchasing an additional 12,380 shares during the period. Finally, Natixis Advisors LLC raised its position in Toro by 84.1% in the third quarter. Natixis Advisors LLC now owns 25,992 shares of the company’s stock valued at $1,981,000 after purchasing an additional 11,870 shares during the period. 87.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Check Out Our Latest Report on TTC

About Toro

(Get Free Report)

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.

Further Reading

Earnings History for Toro (NYSE:TTC)

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