Toro (NYSE:TTC) Stock Passes Below 50-Day Moving Average – Here’s Why

Toro Company (The) (NYSE:TTC)’s stock price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $76.74 and traded as low as $73.56. Toro shares last traded at $73.57, with a volume of 669,328 shares traded.

Analysts Set New Price Targets

A number of research firms have commented on TTC. Northland Securities increased their price objective on shares of Toro from $80.00 to $90.00 and gave the company a “market perform” rating in a research note on Tuesday, September 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Toro in a research report on Wednesday, October 8th. Longbow Research upgraded Toro from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Monday, August 25th. DA Davidson upped their price objective on Toro from $93.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, Robert W. Baird increased their target price on Toro from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $92.60.

Toro Trading Down 0.6%

The company has a quick ratio of 0.79, a current ratio of 1.88 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average is $76.74 and its two-hundred day moving average is $74.62. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 22.29 and a beta of 0.85.

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

Toro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Tuesday, October 7th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $1.52 annualized dividend and a dividend yield of 2.1%. Toro’s payout ratio is 46.06%.

Institutional Trading of Toro

A number of large investors have recently modified their holdings of TTC. Jensen Investment Management Inc. boosted its stake in Toro by 10.1% during the 3rd quarter. Jensen Investment Management Inc. now owns 43,470 shares of the company’s stock valued at $3,312,000 after purchasing an additional 4,000 shares during the period. Wesbanco Bank Inc. raised its holdings in shares of Toro by 4.3% during the third quarter. Wesbanco Bank Inc. now owns 9,716 shares of the company’s stock valued at $740,000 after buying an additional 400 shares during the last quarter. Willis Investment Counsel raised its holdings in shares of Toro by 3.0% during the third quarter. Willis Investment Counsel now owns 17,653 shares of the company’s stock valued at $1,345,000 after buying an additional 508 shares during the last quarter. Transcend Capital Advisors LLC acquired a new position in shares of Toro during the third quarter worth approximately $264,000. Finally, Versant Capital Management Inc grew its holdings in Toro by 54.3% in the 3rd quarter. Versant Capital Management Inc now owns 5,982 shares of the company’s stock worth $456,000 after buying an additional 2,106 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

About Toro

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.