Toro (NYSE:TTC) Lifted to Buy at Zacks Investment Research

Toro (NYSE:TTC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, December 19th. The brokerage presently has a $72.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 7.49% from the company’s current price.

According to Zacks, “The Toro Company is a leading worldwide provider of innovative solutions for the outdoor environment, including turf, snow and ground engaging equipment and irrigation and outdoor lighting solutions. Toro’s global presence extends to more than 90 countries. Through constant innovation and caring relationships built on trust and integrity, Toro and its family of brands have built a legacy of excellence by helping customers care for golf courses, landscapes, sports fields, public green spaces, commercial and residential properties and agricultural fields. “

Other analysts have also recently issued reports about the stock. BidaskClub cut shares of Toro from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Dougherty & Co lowered shares of Toro from a “buy” rating to a “neutral” rating in a research report on Friday, August 25th. Finally, Seaport Global Securities lowered shares of Toro from a “buy” rating to a “neutral” rating and set a $67.00 target price for the company. in a report on Friday, August 25th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $68.33.

Shares of Toro (TTC) traded down $0.17 on Tuesday, hitting $66.98. 342,151 shares of the stock traded hands, compared to its average volume of 436,017. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $7,159.57, a P/E ratio of 27.79, a P/E/G ratio of 2.57 and a beta of 0.62. Toro has a 1-year low of $57.17 and a 1-year high of $73.86.

Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, December 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $488.60 million for the quarter, compared to analysts’ expectations of $491.55 million. Toro had a net margin of 10.69% and a return on equity of 44.66%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS. sell-side analysts forecast that Toro will post 2.62 EPS for the current year.

In other news, VP David H. Alkire sold 23,000 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $65.83, for a total transaction of $1,514,090.00. Following the transaction, the vice president now owns 14,769 shares of the company’s stock, valued at approximately $972,243.27. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Bradley A. Hamilton sold 2,000 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $65.33, for a total transaction of $130,660.00. Following the transaction, the vice president now directly owns 3,851 shares in the company, valued at approximately $251,585.83. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,000 shares of company stock worth $4,814,630. 5.69% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of TTC. SG Americas Securities LLC increased its stake in Toro by 73.3% during the second quarter. SG Americas Securities LLC now owns 25,238 shares of the company’s stock worth $1,749,000 after purchasing an additional 10,675 shares during the period. Montag A & Associates Inc. purchased a new stake in shares of Toro during the second quarter worth approximately $1,317,000. Tocqueville Asset Management L.P. purchased a new stake in shares of Toro during the second quarter worth approximately $212,000. Schroder Investment Management Group increased its stake in shares of Toro by 25.9% during the second quarter. Schroder Investment Management Group now owns 107,281 shares of the company’s stock worth $7,405,000 after buying an additional 22,044 shares during the period. Finally, Eaton Vance Management increased its stake in shares of Toro by 19.3% during the second quarter. Eaton Vance Management now owns 44,581 shares of the company’s stock worth $3,089,000 after buying an additional 7,200 shares during the period. Institutional investors own 75.87% of the company’s stock.

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About Toro

The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.

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