The Toro Company (NYSE:TTC) Receives $89.75 Average Target Price from Brokerages

Shares of The Toro Company (NYSE:TTC) have been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $89.75.

A number of research firms recently issued reports on TTC. Northland Capmk upgraded shares of Toro from a “hold” rating to a “strong-buy” rating in a report on Friday, February 21st. Robert W. Baird lowered their price objective on shares of Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Raymond James cut their target price on Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. DA Davidson lowered their price target on Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Finally, StockNews.com downgraded Toro from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th.

Hedge Funds Weigh In On Toro

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

Toro Stock Down 3.1 %

TTC opened at $65.63 on Friday. Toro has a 12 month low of $63.71 and a 12 month high of $100.93. The business has a 50-day moving average of $77.56 and a two-hundred day moving average of $81.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 0.74. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 16.37 and a beta of 0.72.

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

Toro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be issued a $0.38 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.52 annualized dividend and a yield of 2.32%. Toro’s dividend payout ratio is currently 38.87%.

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.