Analysts Set The Toro Company (NYSE:TTC) PT at $89.75

Shares of The Toro Company (NYSE:TTC) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $89.75.

Several brokerages have recently commented on TTC. Northland Capmk upgraded Toro from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 21st. StockNews.com downgraded shares of Toro from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Northland Securities upgraded shares of Toro from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a research note on Monday, February 24th. DA Davidson decreased their target price on Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, Robert W. Baird lowered their target price on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, March 7th.

Toro Stock Down 2.5%

NYSE:TTC opened at $74.82 on Monday. 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 $7.47 billion, a price-to-earnings ratio of 18.66 and a beta of 0.83. Toro has a one year low of $62.34 and a one year high of $100.93. The stock has a 50-day simple moving average of $70.72 and a 200 day simple moving average of $78.14.

Toro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.52 annualized dividend and a dividend yield of 2.03%. Toro’s dividend payout ratio is currently 38.87%.

Institutional Trading of Toro

A number of large investors have recently modified their holdings of TTC. Assenagon Asset Management S.A. increased its stake in shares of Toro by 294.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 24,652 shares of the company’s stock valued at $1,975,000 after purchasing an additional 18,401 shares during the period. Park Avenue Securities LLC grew its holdings in Toro by 13.7% in the 4th quarter. Park Avenue Securities LLC now owns 9,268 shares of the company’s stock worth $742,000 after buying an additional 1,117 shares in the last quarter. Merit Financial Group LLC bought a new position in Toro in the 4th quarter worth approximately $250,000. HB Wealth Management LLC acquired a new stake in Toro in the 4th quarter valued at approximately $283,000. Finally, Wesbanco Bank Inc. raised its stake in Toro by 40.2% during the 4th quarter. Wesbanco Bank Inc. now owns 8,616 shares of the company’s stock valued at $690,000 after acquiring an additional 2,469 shares in 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.