Toro (NYSE:TTC) Reaches New 1-Year Low – Should You Sell?

The Toro Company (NYSE:TTC) shares reached a new 52-week low on Friday . The stock traded as low as $77.14 and last traded at $77.44, with a volume of 302914 shares. The stock had previously closed at $79.25.

Analyst Upgrades and Downgrades

Separately, Raymond James dropped their target price on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $93.75.

Toro Trading Down 2.3 %

The company has a market capitalization of $7.83 billion, a P/E ratio of 20.31 and a beta of 0.72. The business has a fifty day moving average of $83.47 and a 200-day moving average of $86.73. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94.

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 analysts’ consensus estimates of $0.95. Toro had a net margin of 8.89% and a return on equity of 25.94%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts anticipate that The Toro Company will post 4.16 earnings per share for the current fiscal year.

Toro Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 23rd will be given a dividend of $0.38 per share. This is a boost from Toro’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, December 23rd. This represents a $1.52 annualized dividend and a dividend yield of 1.96%. Toro’s payout ratio is presently 37.91%.

Toro declared that its board has authorized a stock repurchase program on Tuesday, December 10th that permits the company to buyback 4,000,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Toro

A number of institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. raised its stake in shares of Toro by 682.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 482,139 shares of the company’s stock worth $45,085,000 after purchasing an additional 420,539 shares during the period. Millennium Management LLC raised its position in Toro by 11,970.3% in the second quarter. Millennium Management LLC now owns 393,008 shares of the company’s stock worth $36,750,000 after acquiring an additional 389,752 shares during the period. Nuance Investments LLC bought a new position in shares of Toro during the 3rd quarter valued at approximately $29,146,000. Marshall Wace LLP bought a new position in shares of Toro during the 2nd quarter valued at approximately $25,166,000. Finally, Ensign Peak Advisors Inc increased its stake in shares of Toro by 41.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 600,626 shares of the company’s stock worth $56,165,000 after purchasing an additional 174,545 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other 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.