Toro (TTC) Downgraded to Sell at ValuEngine

ValuEngine lowered shares of Toro (NYSE:TTC) from a hold rating to a sell rating in a research report report published on Monday morning.

Several other research firms have also recently commented on TTC. Zacks Investment Research cut shares of Toro from a buy rating to a hold rating in a report on Thursday, January 25th. Cleveland Research cut shares of Toro from a buy rating to a neutral rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock currently has an average rating of Hold and an average price target of $71.00.

Shares of Toro opened at $58.10 on Monday, according to Marketbeat. Toro has a one year low of $57.75 and a one year high of $59.22. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 2.26 and a beta of 0.66. The company has a quick ratio of 0.81, a current ratio of 1.57 and a debt-to-equity ratio of 0.52.

Toro (NYSE:TTC) last announced its earnings results on Thursday, February 22nd. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. Toro had a net margin of 9.67% and a return on equity of 44.59%. The company had revenue of $548.25 million during the quarter, compared to analysts’ expectations of $538.92 million. During the same period last year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. analysts anticipate that Toro will post 2.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 18th. Investors of record on Wednesday, April 4th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Tuesday, April 3rd. Toro’s dividend payout ratio is currently 33.20%.

In related news, VP Blake M. Grams sold 8,200 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $64.47, for a total transaction of $528,654.00. Following the completion of the sale, the vice president now directly owns 8,200 shares in the company, valued at $528,654. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Richard W. Rodier sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $64.67, for a total transaction of $258,680.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,200 shares of company stock valued at $1,465,864. 5.32% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC raised its position in Toro by 164.2% during the first quarter. Parallel Advisors LLC now owns 1,617 shares of the company’s stock valued at $101,000 after acquiring an additional 1,005 shares in the last quarter. Premia Global Advisors LLC bought a new position in Toro during the fourth quarter valued at approximately $180,000. Advisor Partners LLC bought a new position in Toro during the fourth quarter valued at approximately $214,000. Sciencast Management LP bought a new position in Toro during the fourth quarter valued at approximately $236,000. Finally, Eagle Boston Investment Management Inc. bought a new position in Toro during the first quarter valued at approximately $225,000. Institutional investors and hedge funds own 76.07% of the company’s stock.

About Toro

The Toro Company manufactures and markets turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, and residential yard and snow thrower products worldwide. Its Professional segment offers turf and landscape equipment products, such as sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and construction equipment, and other maintenance equipment; snowplows, salt and sand spreaders, and related parts and accessories; and sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, and micro-irrigation drip tape and hose products, as well as professionally installed lighting products.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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