Toro (NYSE:TTC) PT Lowered to $88.00 at DA Davidson

Toro (NYSE:TTC) had its price target lowered by DA Davidson from $103.00 to $88.00 in a research report released on Monday, Benzinga reports. The firm currently has a neutral rating on the stock. DA Davidson also issued estimates for Toro’s Q4 2024 earnings at $0.97 EPS, FY2024 earnings at $4.15 EPS and FY2025 earnings at $4.56 EPS.

Several other research firms have also issued reports on TTC. Robert W. Baird lowered their price target on shares of Toro from $102.00 to $92.00 and set a neutral rating on the stock in a research report on Friday, September 6th. Northland Securities reaffirmed a market perform rating and set a $100.00 price objective on shares of Toro in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Toro currently has an average rating of Hold and an average price target of $93.33.

Toro Trading Down 0.7 %

NYSE:TTC opened at $82.22 on Monday. The stock has a market capitalization of $8.44 billion, a price-to-earnings ratio of 32.50 and a beta of 0.69. The firm has a fifty day simple moving average of $91.21 and a two-hundred day simple moving average of $89.78. Toro has a 12 month low of $77.15 and a 12 month high of $102.00. 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 released its quarterly earnings results on Thursday, September 5th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. Analysts expect that Toro will post 4.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Richard M. Olson sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $95.19, for a total value of $1,903,800.00. Following the completion of the sale, the chief executive officer now directly owns 17,913 shares in the company, valued at approximately $1,705,138.47. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.62% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Toro by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 10,565,128 shares of the company’s stock valued at $968,083,000 after acquiring an additional 73,719 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Toro by 25.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,653,109 shares of the company’s stock valued at $609,626,000 after purchasing an additional 1,332,248 shares in the last quarter. Select Equity Group L.P. increased its stake in Toro by 1.6% during the 2nd quarter. Select Equity Group L.P. now owns 5,519,407 shares of the company’s stock valued at $516,120,000 after purchasing an additional 88,536 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Toro by 1.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,766,046 shares of the company’s stock valued at $445,673,000 after purchasing an additional 65,800 shares in the last quarter. Finally, Mairs & Power Inc. increased its stake in Toro by 0.6% during the 4th quarter. Mairs & Power Inc. now owns 3,225,547 shares of the company’s stock valued at $309,620,000 after purchasing an additional 18,899 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors.

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.