The Toro Company (NYSE:TTC) Receives $89.75 Average PT from Analysts

Shares of The Toro Company (NYSE:TTC) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat.com reports. Two 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. The average 1 year target price among brokers that have covered the stock in the last year is $89.75.

Several equities research analysts have recently commented on TTC shares. Robert W. Baird cut their price target on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a research report on Monday, February 24th. Raymond James lowered their target price on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. StockNews.com cut shares of Toro from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Finally, DA Davidson lowered their price objective on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th.

Toro Trading Down 3.1 %

Shares of Toro stock opened at $65.63 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81. The company has a market capitalization of $6.55 billion, a P/E ratio of 16.37 and a beta of 0.72. Toro has a 1 year low of $63.71 and a 1 year high of $100.93. The company’s fifty day moving average is $77.56 and its two-hundred day moving average is $81.50.

Toro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.52 annualized dividend and a yield of 2.32%. Toro’s payout ratio is currently 38.87%.

Toro declared that its board has authorized a stock repurchase plan on Tuesday, December 10th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Toro by 45.5% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,031,295 shares of the company’s stock valued at $563,207,000 after acquiring an additional 2,199,920 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Toro by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company’s stock valued at $169,639,000 after purchasing an additional 29,105 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Toro by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,187,550 shares of the company’s stock worth $95,123,000 after purchasing an additional 60,068 shares during the last quarter. Amundi grew its holdings in shares of Toro by 30.3% during the fourth quarter. Amundi now owns 1,121,116 shares of the company’s stock worth $89,701,000 after buying an additional 260,746 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised 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. Institutional investors and hedge funds 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.