Toro (TTC) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Toro (NYSE:TTC) from a sell rating to a hold rating in a report released on Saturday morning.
According to Zacks, “The Toro Company is a leading worldwide provider of innovative solutions for the outdoor environment, including turf, snow and ground engaging equipment and irrigation and outdoor lighting solutions. Toro’s global presence extends to more than 90 countries. Through constant innovation and caring relationships built on trust and integrity, Toro and its family of brands have built a legacy of excellence by helping customers care for golf courses, landscapes, sports fields, public green spaces, commercial and residential properties and agricultural fields. “
A number of other research firms have also commented on TTC. ValuEngine raised shares of Toro from a hold rating to a buy rating in a research note on Friday, February 22nd. Robert W. Baird assumed coverage on shares of Toro in a research report on Friday, January 18th. They issued a neutral rating and a $62.00 price target for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $66.00.
Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, February 21st. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Toro had a net margin of 11.55% and a return on equity of 44.47%. The company had revenue of $603.00 million during the quarter, compared to analyst estimates of $575.05 million. During the same period in the prior year, the firm earned $0.48 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. Sell-side analysts predict that Toro will post 2.91 EPS for the current year.
In other news, VP Richard W. Rodier sold 7,727 shares of the stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $57.21, for a total value of $442,061.67. Following the completion of the sale, the vice president now directly owns 30,122 shares of the company’s stock, valued at $1,723,279.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert C. Buhrmaster sold 9,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $67.27, for a total transaction of $605,430.00. Following the completion of the sale, the director now directly owns 25,091 shares of the company’s stock, valued at $1,687,871.57. The disclosure for this sale can be found here. Insiders sold 47,835 shares of company stock valued at $3,187,100 over the last three months. 2.36% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TTC. BOKF NA increased its holdings in Toro by 2.9% in the fourth quarter. BOKF NA now owns 11,259 shares of the company’s stock worth $630,000 after buying an additional 318 shares during the last quarter. Parallel Advisors LLC increased its holdings in Toro by 25.5% in the fourth quarter. Parallel Advisors LLC now owns 1,601 shares of the company’s stock worth $89,000 after buying an additional 325 shares during the last quarter. ETF Managers Group LLC increased its holdings in Toro by 18.5% in the fourth quarter. ETF Managers Group LLC now owns 2,135 shares of the company’s stock worth $119,000 after buying an additional 334 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Toro by 2.2% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 16,796 shares of the company’s stock worth $939,000 after buying an additional 368 shares during the last quarter. Finally, Virginia Retirement Systems ET AL increased its holdings in Toro by 2.2% in the fourth quarter. Virginia Retirement Systems ET AL now owns 18,800 shares of the company’s stock worth $1,051,000 after buying an additional 400 shares during the last quarter. 79.89% of the stock is owned by institutional investors and hedge funds.
Toro Company Profile
The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.
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