Raymond James Lowers Toro (NYSE:TTC) Price Target to $95.00

Toro (NYSE:TTC) had its price target lowered by analysts at Raymond James from $100.00 to $95.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price target indicates a potential upside of 16.59% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Northland Securities reissued a “market perform” rating and set a $100.00 target price on shares of Toro in a research note on Friday, September 6th. Robert W. Baird reduced their price objective on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. StockNews.com raised Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Finally, DA Davidson reduced their price target on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $93.75.

Toro Stock Performance

Shares of NYSE TTC opened at $81.48 on Friday. Toro has a 12-month low of $77.15 and a 12-month high of $100.93. The company has a market cap of $8.36 billion, a PE ratio of 21.39 and a beta of 0.70. The stock has a 50 day simple moving average of $84.13 and a 200-day simple moving average of $88.09. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates of $0.95. Toro had a net margin of 8.89% and a return on equity of 25.94%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business earned $0.71 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that Toro will post 4.16 EPS for the current year.

Toro announced that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that permits the company to repurchase 4,000,000 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Toro

Institutional investors and hedge funds have recently bought and sold shares of the stock. Select Equity Group L.P. increased its position in Toro by 1.6% during the second quarter. Select Equity Group L.P. now owns 5,519,407 shares of the company’s stock worth $516,120,000 after acquiring an additional 88,536 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Toro by 1.4% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,766,046 shares of the company’s stock worth $445,673,000 after purchasing an additional 65,800 shares during the period. Geode Capital Management LLC raised its position in shares of Toro by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company’s stock valued at $169,639,000 after buying an additional 29,105 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Toro by 13.9% in the second quarter. Dimensional Fund Advisors LP now owns 901,346 shares of the company’s stock valued at $84,279,000 after buying an additional 110,330 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Toro by 11.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 618,986 shares of the company’s stock worth $53,685,000 after buying an additional 64,660 shares in the last quarter. 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.