Toro (NYSE:TTC) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Toro (NYSE:TTC) released its earnings results on Thursday. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02, FiscalAI reports. Toro had a return on equity of 31.13% and a net margin of 7.29%.The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion.

Toro Stock Up 1.3%

Shares of Toro stock opened at $99.26 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.74 and a current ratio of 1.56. Toro has a 52-week low of $67.64 and a 52-week high of $105.18. The stock has a market capitalization of $9.45 billion, a PE ratio of 28.60 and a beta of 0.70. The company has a 50-day simple moving average of $96.36 and a two-hundred day simple moving average of $95.04.

Wall Street Analysts Forecast Growth

TTC has been the subject of several research reports. Weiss Ratings raised Toro from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Robert W. Baird decreased their price target on Toro from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Toro presently has a consensus rating of “Hold” and an average target price of $102.33.

Insider Activity at Toro

In other Toro news, Director Gary Lee Ellis sold 4,951 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $91.91, for a total transaction of $455,046.41. Following the completion of the transaction, the director owned 35,297 shares in the company, valued at $3,244,147.27. This trade represents a 12.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Edric C. Funk sold 856 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $97.97, for a total transaction of $83,862.32. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 12,934 shares of company stock worth $1,204,933. 1.88% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Danske Bank A S purchased a new stake in shares of Toro in the third quarter valued at $46,000. Harvest Fund Management Co. Ltd acquired a new stake in Toro during the third quarter worth about $119,000. Caxton Associates LLP acquired a new stake in shares of Toro in the first quarter valued at $285,000. Integrated Wealth Concepts LLC boosted its stake in shares of Toro by 10.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,136 shares of the company’s stock valued at $446,000 after buying an additional 586 shares during the period. Finally, Focus Partners Wealth lifted its position in shares of Toro by 191.5% during the 1st quarter. Focus Partners Wealth now owns 7,586 shares of the company’s stock worth $552,000 after buying an additional 4,984 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 (NYSE: TTC) specializes in the design, manufacture and marketing of a broad range of outdoor environment equipment for residential, commercial and professional markets. Its product portfolio includes lawn mowers, utility vehicles, snow throwers, irrigation systems and landscape maintenance equipment. Toro’s offerings span walk-behind and ride-on mowers, zero-turn radius mowers, snow blowers, sprinklers, drip irrigation products, spreaders and specialty turf maintenance machines tailored to golf courses, sports fields and municipal parks.

Founded in 1914 and headquartered in Bloomington, Minnesota, Toro has built a century-long legacy of innovation in the grounds-care industry.