Toro Sees Unusually High Options Volume (NYSE:TTC)

The Toro Company (NYSE:TTC) was the recipient of unusually large options trading on Wednesday. Investors acquired 1,176 put options on the company. This is an increase of approximately 1,709% compared to the average volume of 65 put options.

Toro Trading Up 0.1 %

Shares of TTC stock opened at $87.09 on Friday. Toro has a fifty-two week low of $77.15 and a fifty-two week high of $102.00. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $88.69 and a 200-day simple moving average of $89.16. The stock has a market cap of $8.94 billion, a P/E ratio of 34.40 and a beta of 0.69.

Toro (NYSE:TTC) last posted its earnings results on Thursday, September 5th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). Toro had a net margin of 8.89% and a return on equity of 25.94%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business posted $0.95 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. On average, analysts forecast that Toro will post 4.16 earnings per share for the current fiscal year.

Toro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Monday, September 30th. Toro’s payout ratio is currently 56.92%.

Institutional Investors Weigh In On Toro

A number of large investors have recently bought and sold shares of TTC. UMB Bank n.a. lifted its position in shares of Toro by 1,204.8% in the first quarter. UMB Bank n.a. now owns 274 shares of the company’s stock valued at $25,000 after acquiring an additional 253 shares in the last quarter. Rise Advisors LLC lifted its holdings in Toro by 2,057.1% in the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock valued at $28,000 after purchasing an additional 288 shares in the last quarter. Covestor Ltd boosted its stake in shares of Toro by 522.6% during the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock worth $66,000 after purchasing an additional 601 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Toro during the first quarter worth about $66,000. Finally, Riverview Trust Co acquired a new position in shares of Toro in the first quarter valued at approximately $72,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TTC shares. DA Davidson decreased their target price on shares of Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Northland Securities reissued a “market perform” rating and set a $100.00 price objective on shares of Toro in a report on Friday, September 6th. Robert W. Baird lowered their target price on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Finally, StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $93.33.

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.