Toro (NYSE:TTC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “The Toro Company is a leading worldwide provider of innovative solutions for the outdoor environment, including turf, snow and ground engaging equipment and irrigation and outdoor lighting solutions. Toro’s global presence extends to more than 90 countries. Through constant innovation and caring relationships built on trust and integrity, Toro and its family of brands have built a legacy of excellence by helping customers care for golf courses, landscapes, sports fields, public green spaces, commercial and residential properties and agricultural fields. “
TTC has been the subject of several other reports. ValuEngine raised Toro from a “sell” rating to a “hold” rating in a report on Thursday, May 24th. Cleveland Research cut Toro from a “buy” rating to a “neutral” rating in a research note on Monday, May 14th. Six research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $71.00.
Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, May 24th. The company reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.02. The firm had revenue of $875.30 million during the quarter, compared to analysts’ expectations of $901.26 million. Toro had a return on equity of 45.89% and a net margin of 10.08%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 EPS. sell-side analysts expect that Toro will post 2.71 EPS for the current year.
In other news, VP Richard W. Rodier sold 3,000 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $63.27, for a total value of $189,810.00. Following the completion of the sale, the vice president now directly owns 26,122 shares of the company’s stock, valued at approximately $1,652,738.94. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Katherine J. Harless sold 8,000 shares of the company’s stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of $61.09, for a total value of $488,720.00. Following the completion of the sale, the director now directly owns 69,523 shares of the company’s stock, valued at $4,247,160.07. The disclosure for this sale can be found here. Corporate insiders own 5.69% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in Toro by 64.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,817,484 shares of the company’s stock worth $113,502,000 after purchasing an additional 712,331 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Toro by 143.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,028,994 shares of the company’s stock worth $67,121,000 after purchasing an additional 605,894 shares in the last quarter. Select Equity Group L.P. increased its stake in Toro by 97.9% during the 1st quarter. Select Equity Group L.P. now owns 1,025,856 shares of the company’s stock worth $64,065,000 after purchasing an additional 507,586 shares in the last quarter. Two Sigma Advisers LP increased its stake in Toro by 272.8% during the 4th quarter. Two Sigma Advisers LP now owns 581,325 shares of the company’s stock worth $37,920,000 after purchasing an additional 425,374 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Toro by 26.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,609,526 shares of the company’s stock worth $104,989,000 after purchasing an additional 340,039 shares in the last quarter. 73.77% of the stock is owned by institutional investors.
Toro Company Profile
The Toro Company manufactures and markets turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, and residential yard and snow thrower products worldwide. Its Professional segment offers turf and landscape equipment products, such as sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and construction equipment, and other maintenance equipment; snowplows, salt and sand spreaders, and related parts and accessories; and sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, and micro-irrigation drip tape and hose products, as well as professionally installed lighting products.
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