Toro (TTC) Raised to “Buy” at Zacks Investment Research

Toro (NYSE:TTC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, December 19th. The brokerage presently has a $72.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 7.22% from the stock’s current price.

According to Zacks, “The Toro Company is a leading worldwide provider of innovative solutions for the outdoor environment, including turf, snow and ground engaging equipment and irrigation and outdoor lighting solutions. Toro’s global presence extends to more than 90 countries. Through constant innovation and caring relationships built on trust and integrity, Toro and its family of brands have built a legacy of excellence by helping customers care for golf courses, landscapes, sports fields, public green spaces, commercial and residential properties and agricultural fields. “

Several other research firms have also commented on TTC. Dougherty & Co lowered shares of Toro from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. BidaskClub lowered shares of Toro from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Seaport Global Securities downgraded shares of Toro from a “buy” rating to a “neutral” rating and set a $67.00 target price on the stock. in a research note on Friday, August 25th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Toro has a consensus rating of “Hold” and a consensus price target of $68.33.

Shares of Toro (NYSE:TTC) traded up $0.80 during trading hours on Tuesday, reaching $67.15. 431,973 shares of the company were exchanged, compared to its average volume of 551,804. The stock has a market cap of $7,160.00, a PE ratio of 27.86, a PEG ratio of 2.55 and a beta of 0.61. Toro has a one year low of $55.77 and a one year high of $73.86. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.65.

Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, December 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. Toro had a net margin of 10.69% and a return on equity of 44.66%. The company had revenue of $488.60 million for the quarter, compared to analysts’ expectations of $491.55 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. Toro’s quarterly revenue was up 4.3% on a year-over-year basis. equities research analysts predict that Toro will post 2.62 EPS for the current fiscal year.

In other news, VP Bradley A. Hamilton sold 2,000 shares of the stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $65.33, for a total value of $130,660.00. Following the completion of the sale, the vice president now directly owns 3,851 shares of the company’s stock, valued at $251,585.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David H. Alkire sold 23,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $65.83, for a total transaction of $1,514,090.00. Following the transaction, the vice president now owns 14,769 shares of the company’s stock, valued at approximately $972,243.27. The disclosure for this sale can be found here. Insiders have sold 73,000 shares of company stock valued at $4,814,630 over the last three months. 5.69% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC lifted its position in Toro by 17.4% during the second quarter. Advisory Services Network LLC now owns 3,556 shares of the company’s stock valued at $246,000 after purchasing an additional 527 shares during the last quarter. Flinton Capital Management LLC lifted its position in Toro by 6.9% during the second quarter. Flinton Capital Management LLC now owns 10,880 shares of the company’s stock valued at $754,000 after purchasing an additional 704 shares during the last quarter. Mckinley Capital Management LLC Delaware lifted its position in Toro by 25.3% during the third quarter. Mckinley Capital Management LLC Delaware now owns 6,766 shares of the company’s stock valued at $420,000 after purchasing an additional 1,366 shares during the last quarter. Comerica Bank lifted its position in Toro by 1.3% during the third quarter. Comerica Bank now owns 143,851 shares of the company’s stock valued at $8,990,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in Toro by 24.8% during the third quarter. Wedge Capital Management L L P NC now owns 10,412 shares of the company’s stock valued at $646,000 after purchasing an additional 2,071 shares during the last quarter. Institutional investors and hedge funds own 75.87% of the company’s stock.

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Toro Company Profile

The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.

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