Toro Target of Unusually High Options Trading (NYSE:TTC)

Toro Company (The) (NYSE:TTC) saw unusually large options trading activity on Wednesday. Investors bought 1,176 put options on the stock. This represents an increase of approximately 1,709% compared to the average volume of 65 put options.

Toro Stock Performance

NYSE:TTC opened at $74.17 on Friday. Toro has a 1 year low of $62.34 and a 1 year high of $89.50. The firm’s fifty day simple moving average is $77.76 and its 200 day simple moving average is $73.85. The company has a current ratio of 1.88, a quick ratio of 0.79 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $7.26 billion, a PE ratio of 22.48 and a beta of 0.85.

Toro (NYSE:TTC) last posted its earnings results on Thursday, September 4th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.02. Toro had a net margin of 7.37% and a return on equity of 28.98%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the business posted $1.18 EPS. Toro’s revenue was down 2.2% compared to the same quarter last year. Toro has set its FY 2025 guidance at 4.150-4.150 EPS. On average, sell-side analysts anticipate that Toro will post 4.41 EPS for the current year.

Toro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Tuesday, October 7th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $1.52 dividend on an annualized basis and a yield of 2.0%. Toro’s dividend payout ratio is 46.06%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TTC shares. Weiss Ratings restated a “hold (c-)” rating on shares of Toro in a research note on Wednesday, October 8th. Robert W. Baird increased their price target on shares of Toro from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Northland Securities increased their price target on shares of Toro from $80.00 to $90.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 9th. DA Davidson increased their price target on shares of Toro from $93.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Finally, Longbow Research upgraded shares of Toro from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Monday, August 25th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $92.60.

Institutional Trading of Toro

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in Toro by 7.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 535,787 shares of the company’s stock valued at $38,882,000 after purchasing an additional 37,405 shares during the period. M&T Bank Corp boosted its holdings in Toro by 11.2% in the 1st quarter. M&T Bank Corp now owns 10,915 shares of the company’s stock valued at $794,000 after purchasing an additional 1,098 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Toro by 87.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 45,449 shares of the company’s stock valued at $3,306,000 after purchasing an additional 21,214 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Toro by 1.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,199 shares of the company’s stock valued at $1,033,000 after purchasing an additional 173 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Toro by 65.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 12,674 shares of the company’s stock valued at $922,000 after purchasing an additional 5,012 shares during the period. 87.95% of the stock is 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.