Toro (NYSE:TTC) Price Target Lowered to $84.00 at Robert W. Baird

Toro (NYSE:TTC) had its price target lowered by equities research analysts at Robert W. Baird from $88.00 to $84.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 14.39% from the company’s previous close.

Several other analysts have also recently issued reports on TTC. Raymond James dropped their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Northland Securities raised 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 note on Monday, February 24th. Finally, Northland Capmk raised shares of Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Three 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.75.

Toro Stock Down 1.0 %

TTC opened at $73.44 on Friday. Toro has a twelve month low of $72.18 and a twelve month high of $100.93. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $80.94 and a 200 day moving average price of $83.55. The company has a market cap of $7.39 billion, a PE ratio of 18.31 and a beta of 0.70.

Toro (NYSE:TTC) last released its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, hitting the consensus estimate of $0.95. Toro had a net margin of 9.14% and a return on equity of 27.25%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts expect that Toro will post 4.41 earnings per share for the current fiscal year.

Toro announced 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Toro

Several hedge funds have recently made changes to their positions in TTC. True Wealth Design LLC grew its stake in shares of Toro by 127.2% in the 4th quarter. True Wealth Design LLC now owns 368 shares of the company’s stock valued at $29,000 after buying an additional 206 shares during the period. Asset Planning Inc purchased a new stake in shares of Toro in the 4th quarter valued at approximately $31,000. CIBC Private Wealth Group LLC grew its stake in shares of Toro by 30.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock valued at $43,000 after buying an additional 127 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Toro by 195.7% in the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock valued at $44,000 after buying an additional 362 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of Toro by 54.6% in the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors 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.