Raymond James Cuts Toro (NYSE:TTC) Price Target to $90.00

Toro (NYSE:TTC) had its price objective reduced by Raymond James from $95.00 to $90.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also issued reports on the company. Robert W. Baird lifted their target price on Toro from $84.00 to $85.00 and gave the stock a “neutral” rating in a report on Tuesday, June 3rd. Wall Street Zen lowered Toro from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Northland Securities reaffirmed a “market perform” rating and set a $80.00 target price (down from $100.00) on shares of Toro in a report on Friday. DA Davidson lowered their target price on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Northland Capmk raised Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $83.75.

Toro Price Performance

Shares of NYSE TTC opened at $68.43 on Friday. Toro has a fifty-two week low of $62.34 and a fifty-two week high of $100.93. The firm’s 50-day simple moving average is $70.96 and its 200 day simple moving average is $77.34. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The stock has a market cap of $6.83 billion, a P/E ratio of 17.06 and a beta of 0.83.

Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, June 5th. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. Toro had a net margin of 9.14% and a return on equity of 27.25%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the business earned $1.40 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. Equities analysts expect that Toro will post 4.41 EPS for the current year.

Toro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 17th will be paid a $0.38 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $1.52 dividend on an annualized basis and a yield of 2.22%. Toro’s dividend payout ratio is currently 38.97%.

Hedge Funds Weigh In On Toro

Institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors increased its stake in Toro by 33.8% in the 4th quarter. Captrust Financial Advisors now owns 52,934 shares of the company’s stock worth $4,240,000 after purchasing an additional 13,373 shares in the last quarter. LPL Financial LLC increased its stake in Toro by 33.6% in the 4th quarter. LPL Financial LLC now owns 57,435 shares of the company’s stock worth $4,601,000 after purchasing an additional 14,433 shares in the last quarter. Quantbot Technologies LP grew its stake in Toro by 111.4% during the 4th quarter. Quantbot Technologies LP now owns 51,945 shares of the company’s stock valued at $4,161,000 after acquiring an additional 27,376 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Toro by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company’s stock valued at $95,123,000 after acquiring an additional 60,068 shares in the last quarter. Finally, Bell Asset Management Ltd grew its stake in Toro by 72.4% during the 4th quarter. Bell Asset Management Ltd now owns 77,756 shares of the company’s stock valued at $6,228,000 after acquiring an additional 32,661 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

About Toro

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.