Toro Target of Unusually Large Options Trading (NYSE:TTC)

Toro Company (The) (NYSE:TTC) was the target of unusually large options trading on Wednesday. Traders purchased 1,176 put options on the company. Thisrepresentsanincreaseofapproximately1,709% compared to the average daily volume of 65 put options.

Insiders Place Their Bets

In other Toro news, Director Gary Lee Ellis sold 5,038 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $70.81, for a total value of $356,740.78. Following the completion of the transaction, the director owned 34,062 shares in the company, valued at approximately $2,411,930.22. This represents a 12.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kurt D. Svendsen sold 6,000 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $70.99, for a total value of $425,940.00. Following the completion of the transaction, the vice president owned 11,646 shares of the company’s stock, valued at approximately $826,749.54. This trade represents a 34.00% decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TTC. AQR Capital Management LLC boosted its position in Toro by 1,184.6% in the first quarter. AQR Capital Management LLC now owns 1,963,253 shares of the company’s stock worth $142,827,000 after purchasing an additional 1,810,429 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Toro by 16.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,187,609 shares of the company’s stock worth $595,649,000 after purchasing an additional 1,156,314 shares during the last quarter. Boston Trust Walden Corp boosted its position in Toro by 133.3% in the first quarter. Boston Trust Walden Corp now owns 779,419 shares of the company’s stock worth $56,703,000 after purchasing an additional 445,287 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Toro by 39.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,534,760 shares of the company’s stock worth $111,654,000 after purchasing an additional 434,257 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Toro by 411.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 464,609 shares of the company’s stock worth $37,215,000 after purchasing an additional 373,736 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Toro Price Performance

NYSE TTC opened at $76.1050 on Thursday. Toro has a one year low of $62.34 and a one year high of $93.00. The stock has a 50-day moving average of $73.42 and a 200 day moving average of $73.64. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 19.51 and a beta of 0.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.79 and a current ratio of 1.81.

Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, June 5th. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.40 by $0.02. Toro had a return on equity of 27.99% and a net margin of 8.77%.The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the company earned $1.40 EPS. Toro’s revenue for the quarter was down 2.3% on a year-over-year basis. Toro has set its FY 2025 guidance at 4.150-4.300 EPS. On average, sell-side analysts forecast that Toro will post 4.41 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TTC shares. Raymond James Financial reduced their price target on Toro from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, June 6th. Northland Capmk downgraded Toro from a “strong-buy” rating to a “hold” rating in a report on Friday, June 6th. DA Davidson set a $76.00 price target on Toro and gave the company a “neutral” rating in a report on Monday, June 9th. Robert W. Baird raised their price target on Toro from $84.00 to $85.00 and gave the company a “neutral” rating in a report on Tuesday, June 3rd. Finally, Northland Securities restated a “market perform” rating and set a $80.00 price target (down from $100.00) on shares of Toro in a report on Friday, June 6th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Toro has a consensus rating of “Hold” and a consensus price target of $82.75.

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.