Toro (NYSE:TTC) Reaches New 52-Week Low – What’s Next?

The Toro Company (NYSE:TTC) reached a new 52-week low during trading on Thursday . The company traded as low as $71.99 and last traded at $72.12, with a volume of 194824 shares changing hands. The stock had previously closed at $73.25.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Raymond James dropped their price objective on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. StockNews.com downgraded Toro from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Northland Securities upgraded Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a report on Monday, February 24th. Finally, Robert W. Baird dropped their price objective on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.75.

Toro Stock Up 1.8 %

The firm has a fifty day simple moving average of $80.37 and a 200-day simple moving average of $83.03. The company has a market capitalization of $7.31 billion, a P/E ratio of 18.25 and a beta of 0.70. 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 posted its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.95. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. Toro’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. On average, equities research analysts expect that The Toro Company will post 4.41 EPS for the current fiscal year.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Toro by 45.5% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,031,295 shares of the company’s stock worth $563,207,000 after buying an additional 2,199,920 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Toro by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company’s stock valued at $169,639,000 after buying an additional 29,105 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Toro by 5.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company’s stock valued at $95,123,000 after buying an additional 60,068 shares during the last quarter. Amundi lifted its position in shares of Toro by 30.3% in the fourth quarter. Amundi now owns 1,121,116 shares of the company’s stock valued at $89,701,000 after buying an additional 260,746 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Toro by 17.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,100,503 shares of the company’s stock valued at $88,152,000 after buying an additional 164,069 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors.

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.