Toro (NYSE:TTC) Trading Down 3.3% – Here’s What Happened

The Toro Company (NYSE:TTC) traded down 3.3% on Friday . The company traded as low as $84.21 and last traded at $84.21. 452,707 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 892,764 shares. The stock had previously closed at $87.09.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Robert W. Baird cut their price target on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Northland Securities reiterated a “market perform” rating and issued a $100.00 target price on shares of Toro in a research note on Friday, September 6th. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Finally, DA Davidson dropped their target price on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $93.33.

Toro Stock Performance

The stock has a 50-day simple moving average of $88.51 and a 200-day simple moving average of $89.15. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85. The stock has a market cap of $8.60 billion, a PE ratio of 34.42 and a beta of 0.69.

Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). Toro had a net margin of 8.89% and a return on equity of 25.94%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm posted $0.95 EPS. Toro’s revenue was up 6.9% on a year-over-year basis. Equities analysts predict that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Monday, September 30th. Toro’s dividend payout ratio (DPR) is presently 56.92%.

Institutional Investors Weigh In On Toro

Institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in shares of Toro by 1,204.8% in the first quarter. UMB Bank n.a. now owns 274 shares of the company’s stock worth $25,000 after buying an additional 253 shares during the period. Rise Advisors LLC boosted its position in shares of Toro by 2,057.1% in the first quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after buying an additional 288 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Toro in the first quarter worth about $66,000. Covestor Ltd boosted its position in shares of Toro by 522.6% in the first quarter. Covestor Ltd now owns 716 shares of the company’s stock worth $66,000 after buying an additional 601 shares during the period. Finally, Riverview Trust Co purchased a new stake in shares of Toro in the first quarter worth about $72,000. 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.