Toro (NYSE:TTC) Reaches New 52-Week Low – What’s Next?

The Toro Company (NYSE:TTC)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $71.99 and last traded at $72.12, with a volume of 194824 shares. The stock had previously closed at $73.25.

Analysts Set New Price Targets

TTC has been the topic of a number of recent research reports. StockNews.com lowered Toro from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Robert W. Baird lowered their price objective on Toro from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Northland Securities upgraded 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. Raymond James lowered their price objective on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Finally, DA Davidson decreased their price target on Toro from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.75.

Toro Stock Performance

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 cap of $7.31 billion, a price-to-earnings ratio of 18.25 and a beta of 0.70. The company has a fifty day moving average of $80.37 and a two-hundred day moving average of $83.03.

Toro (NYSE:TTC) last released its quarterly earnings data 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 return on equity of 27.25% and a net margin of 9.14%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the business posted $0.71 EPS. Toro’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts anticipate that The Toro Company will post 4.41 EPS for the current year.

Toro declared that its Board of Directors has approved a stock buyback program on Tuesday, December 10th that authorizes the company to buyback 4,000,000 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC lifted its holdings in Toro by 127.2% during the 4th quarter. True Wealth Design LLC now owns 368 shares of the company’s stock worth $29,000 after buying an additional 206 shares during the period. Asset Planning Inc acquired a new position in Toro during the 4th quarter worth about $31,000. CIBC Private Wealth Group LLC lifted its holdings in Toro by 30.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 547 shares of the company’s stock worth $43,000 after buying an additional 127 shares during the period. Venturi Wealth Management LLC lifted its holdings in Toro by 195.7% during the 4th quarter. Venturi Wealth Management LLC now owns 547 shares of the company’s stock worth $44,000 after buying an additional 362 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in shares of Toro by 54.6% in the 4th quarter. First Horizon Advisors Inc. now owns 807 shares of the company’s stock valued at $65,000 after purchasing an additional 285 shares during the period. 87.95% of the stock is owned by institutional investors and hedge funds.

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.