Toro Co (NYSE:TTC) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 2,710,000 shares, a drop of 15.3% from the December 15th total of 3,200,000 shares. Based on an average trading volume of 381,100 shares, the short-interest ratio is currently 7.1 days. Currently, 2.6% of the shares of the company are sold short.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Toro from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Friday, January 10th. Robert W. Baird raised their target price on shares of Toro from $72.00 to $78.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Toro currently has a consensus rating of “Hold” and a consensus price target of $80.00.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new stake in shares of Toro during the third quarter valued at approximately $31,000. Transamerica Financial Advisors Inc. bought a new stake in shares of Toro during the second quarter valued at approximately $37,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of Toro during the second quarter valued at approximately $37,000. Resources Management Corp CT ADV bought a new stake in shares of Toro during the third quarter valued at approximately $74,000. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of Toro during the second quarter valued at approximately $87,000. 82.15% of the stock is currently owned by institutional investors.
NYSE TTC traded up $0.59 during trading hours on Wednesday, reaching $83.70. The company’s stock had a trading volume of 1,873 shares, compared to its average volume of 424,765. The company has a current ratio of 1.48, a quick ratio of 0.62 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $79.74 and a 200 day simple moving average of $74.45. Toro has a 52 week low of $58.12 and a 52 week high of $83.30. The stock has a market cap of $8.86 billion, a PE ratio of 27.81, a PEG ratio of 2.44 and a beta of 0.77.
Toro (NYSE:TTC) last issued its earnings results on Wednesday, December 18th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The firm had revenue of $734.38 million for the quarter, compared to analysts’ expectations of $745.03 million. Toro had a net margin of 8.73% and a return on equity of 40.31%. Toro’s revenue was up 36.2% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share. As a group, equities analysts predict that Toro will post 3.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Tuesday, December 24th. This is a boost from Toro’s previous quarterly dividend of $0.23. Toro’s payout ratio is 33.33%.
The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.
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