Toro (NYSE:TTC) Given New $80.00 Price Target at DA Davidson

Toro (NYSE:TTC) had its price objective cut by research analysts at DA Davidson from $86.00 to $80.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s price target suggests a potential upside of 6.30% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Raymond James lowered their price target on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. StockNews.com cut shares of Toro from a “buy” rating to a “hold” rating in a research report on Friday. Robert W. Baird dropped their price objective on Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Monday, February 24th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.75.

Toro Stock Performance

TTC stock traded down $1.98 during mid-day trading on Tuesday, reaching $75.26. 505,326 shares of the stock traded hands, compared to its average volume of 903,681. The firm has a market capitalization of $7.57 billion, a PE ratio of 18.77 and a beta of 0.70. Toro has a 52 week low of $72.18 and a 52 week high of $100.93. The business has a 50-day moving average of $80.88 and a two-hundred day moving average of $83.40. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

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

Toro declared that its board has approved a share repurchase program on Tuesday, December 10th that allows the company to buyback 4,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Toro

Several institutional investors and hedge funds have recently bought and sold shares of the business. True Wealth Design LLC lifted its holdings in Toro by 127.2% during the 4th quarter. True Wealth Design LLC now owns 368 shares of the company’s stock valued at $29,000 after purchasing an additional 206 shares during the last quarter. Asset Planning Inc acquired a new position in Toro in the 4th quarter valued at about $31,000. CIBC Private Wealth Group LLC lifted its position in Toro by 30.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock worth $43,000 after acquiring an additional 127 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Toro by 195.7% during 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 during the period. Finally, First Horizon Advisors Inc. grew its position in shares of Toro by 54.6% in the fourth quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after purchasing an additional 285 shares during the last quarter. Institutional investors 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.