Raymond James Has Lowered Expectations for Toro (NYSE:TTC) Stock Price

Toro (NYSE:TTC) had its target price reduced by Raymond James from $100.00 to $95.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price objective indicates a potential upside of 15.78% from the company’s previous close.

TTC has been the subject of a number of other research reports. Northland Securities reiterated a “market perform” rating and issued a $100.00 target price on shares of Toro 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. Robert W. Baird cut their target price on Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, DA Davidson lowered their price objective on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $93.75.

Toro Stock Performance

Shares of TTC stock traded up $0.96 during trading hours on Friday, reaching $82.05. 480,612 shares of the company’s stock were exchanged, compared to its average volume of 858,889. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85. Toro has a 1 year low of $77.15 and a 1 year high of $100.93. The company has a market cap of $8.42 billion, a P/E ratio of 21.54 and a beta of 0.70. The company’s 50 day moving average is $84.18 and its two-hundred day moving average is $88.02.

Toro (NYSE:TTC) last announced its quarterly earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. Toro had a net margin of 8.89% and a return on equity of 25.94%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that Toro will post 4.16 EPS for the current fiscal year.

Toro announced that its Board of Directors has initiated a stock repurchase plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Toro

Large investors have recently modified their holdings of the company. Select Equity Group L.P. raised its holdings 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 buying an additional 88,536 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Toro by 1.4% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,766,046 shares of the company’s stock worth $445,673,000 after acquiring an additional 65,800 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Toro by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,959,875 shares of the company’s stock worth $169,639,000 after buying an additional 29,105 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Toro by 13.9% during the second quarter. Dimensional Fund Advisors LP now owns 901,346 shares of the company’s stock valued at $84,279,000 after acquiring an additional 110,330 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 acquiring an additional 64,660 shares during the period. 87.95% of the stock is currently 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.