Brokerages Set The Toro Company (NYSE:TTC) PT at $93.75

The Toro Company (NYSE:TTC) has received a consensus rating of “Hold” from the four ratings firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $93.75.

Separately, Raymond James decreased their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, December 20th.

Toro Stock Performance

TTC opened at $80.08 on Friday. 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 firm has a market cap of $8.06 billion, a PE ratio of 19.97 and a beta of 0.72. The business has a fifty day simple moving average of $83.01 and a 200-day simple moving average of $85.17. Toro has a fifty-two week low of $76.95 and a fifty-two week high of $100.93.

Toro (NYSE:TTC) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. Toro had a return on equity of 27.25% and a net margin of 9.14%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company earned $0.71 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts predict that Toro will post 4.41 EPS for the current fiscal year.

Toro Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 23rd were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.90%. This is a positive change from Toro’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Monday, December 23rd. Toro’s dividend payout ratio is 37.91%.

Toro declared that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that authorizes the company to buyback 4,000,000 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Asset Planning Inc acquired a new position in Toro in the fourth quarter worth approximately $31,000. Venturi Wealth Management LLC grew its position in Toro by 195.7% in the fourth quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock worth $44,000 after acquiring an additional 362 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Toro by 112.1% during the 3rd quarter. UMB Bank n.a. now owns 630 shares of the company’s stock worth $55,000 after purchasing an additional 333 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Toro by 54.6% during the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after purchasing an additional 285 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Toro by 850.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock valued at $74,000 after purchasing an additional 765 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Company Profile

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.