Toro (NYSE:TTC) Stock Rating Upgraded by Northland Securities

Toro (NYSE:TTC) was upgraded by equities research analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday,Benzinga reports. The firm currently has a $100.00 price objective on the stock. Northland Securities’ price target suggests a potential upside of 25.05% from the company’s previous close.

Separately, Raymond James dropped their price target on shares of Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Toro has an average rating of “Moderate Buy” and a consensus target price of $93.75.

Toro Stock Down 1.8 %

Toro stock opened at $79.97 on Monday. Toro has a fifty-two week low of $76.95 and a fifty-two week high of $100.93. 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 firm has a 50 day moving average price of $81.74 and a 200 day moving average price of $84.27. The company has a market capitalization of $8.05 billion, a PE ratio of 19.94 and a beta of 0.72.

Toro (NYSE:TTC) last posted its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. Toro had a net margin of 9.14% and a return on equity of 27.25%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts expect that Toro will post 4.41 earnings per share for the current year.

Toro declared that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Toro

Institutional investors and hedge funds have recently modified their holdings of the company. Speece Thorson Capital Group Inc. grew its stake in shares of Toro by 24.5% during the third quarter. Speece Thorson Capital Group Inc. now owns 144,438 shares of the company’s stock worth $12,527,000 after purchasing an additional 28,453 shares in the last quarter. PEAK6 Investments LLC purchased a new stake in Toro in the third quarter valued at $1,248,000. Benjamin Edwards Inc. lifted its position in Toro by 6,995.4% in the third quarter. Benjamin Edwards Inc. now owns 74,005 shares of the company’s stock valued at $6,418,000 after acquiring an additional 72,962 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in Toro in the third quarter valued at $1,261,000. Finally, Point72 DIFC Ltd lifted its position in Toro by 101.6% in the third quarter. Point72 DIFC Ltd now owns 13,000 shares of the company’s stock valued at $1,127,000 after acquiring an additional 6,550 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

About Toro

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.