Toro (NYSE:TTC) Rating Lowered to Hold at StockNews.com

Toro (NYSE:TTC – Get Rating) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other equities analysts have also commented on the company. Raymond James upgraded Toro from a “market perform” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research note on Friday, December 23rd. Robert W. Baird lowered their price objective on Toro from $120.00 to $116.00 in a research note on Thursday, December 22nd.

Toro Stock Performance

NYSE:TTC opened at $110.49 on Wednesday. The stock has a market cap of $11.52 billion, a P/E ratio of 24.23 and a beta of 0.73. The stock has a 50 day simple moving average of $112.13 and a 200 day simple moving average of $104.99. The company has a current ratio of 1.78, a quick ratio of 0.63 and a debt-to-equity ratio of 0.76. Toro has a 1-year low of $71.86 and a 1-year high of $117.66.

Toro (NYSE:TTC – Get Rating) last released its quarterly earnings results on Thursday, March 9th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Toro had a return on equity of 36.04% and a net margin of 10.16%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the firm posted $0.66 EPS. Research analysts anticipate that Toro will post 4.9 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Blake M. Grams sold 6,199 shares of Toro stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $114.01, for a total value of $706,747.99. Following the transaction, the vice president now owns 36,998 shares in the company, valued at approximately $4,218,141.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Blake M. Grams sold 6,199 shares of Toro stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $114.01, for a total value of $706,747.99. Following the transaction, the vice president now owns 36,998 shares in the company, valued at approximately $4,218,141.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Peter D. Moeller sold 430 shares of Toro stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $116.62, for a total value of $50,146.60. Following the completion of the transaction, the vice president now owns 4,204 shares in the company, valued at approximately $490,270.48. The disclosure for this sale can be found here. Insiders have sold a total of 39,733 shares of company stock worth $4,492,359 in the last 90 days. Company insiders own 2.22% of the company’s stock.

Hedge Funds Weigh In On Toro

Hedge funds and other institutional investors have recently modified their holdings of the business. Durable Capital Partners LP acquired a new stake in shares of Toro during the 1st quarter valued at $150,798,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Toro by 29.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,067,162 shares of the company’s stock valued at $573,603,000 after acquiring an additional 1,154,233 shares in the last quarter. Norges Bank acquired a new stake in shares of Toro during the 4th quarter valued at $118,097,000. First Trust Advisors LP boosted its holdings in shares of Toro by 336.6% during the 1st quarter. First Trust Advisors LP now owns 932,866 shares of the company’s stock valued at $79,751,000 after acquiring an additional 719,203 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Toro by 17.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,230,806 shares of the company’s stock valued at $244,862,000 after acquiring an additional 476,439 shares in the last quarter. Institutional investors own 85.14% of the company’s stock.

Toro Company Profile

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The Toro Co is in the business of designing, manufacturing, marketing, and selling professional turf maintenance equipment and services. It operates through the following segments: Professional and Residential. The Professional segment consists of turf and landscape equipment, rental, specialty, and underground construction equipment, snow & ice management equipment, and irrigation and lighting products.