Raymond James Lowers Toro (NYSE:TTC) Price Target to $95.00

Toro (NYSE:TTC) had its target price reduced by equities research analysts at Raymond James from $100.00 to $95.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 15.78% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Northland Securities reissued a “market perform” rating and issued a $100.00 price objective on shares of Toro in a research report on Friday, September 6th. Robert W. Baird cut their price target on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Finally, DA Davidson reduced their price target on shares of Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $93.75.

Toro Stock Up 1.2 %

Shares of Toro stock traded up $0.96 during midday trading on Friday, reaching $82.05. 480,612 shares of the company’s stock traded hands, compared to its average volume of 858,889. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94. The company’s 50 day simple moving average is $84.18 and its 200 day simple moving average is $88.02. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 21.54 and a beta of 0.70. Toro has a 52 week low of $77.15 and a 52 week high of $100.93.

Toro (NYSE:TTC) last issued its earnings results on Wednesday, December 18th. The company reported $0.95 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 previous year, the company earned $0.71 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts expect that Toro will post 4.16 earnings per share for the current fiscal year.

Toro declared that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that allows the company to repurchase 4,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Toro

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTC. UMB Bank n.a. increased its position in shares of Toro by 112.1% during the third quarter. UMB Bank n.a. now owns 630 shares of the company’s stock worth $55,000 after purchasing an additional 333 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Toro by 850.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 855 shares of the company’s stock valued at $74,000 after purchasing an additional 765 shares during the period. Fifth Third Bancorp increased its stake in shares of Toro by 22.4% during the second quarter. Fifth Third Bancorp now owns 908 shares of the company’s stock worth $85,000 after purchasing an additional 166 shares in the last quarter. CWM LLC raised its stake in Toro by 15.5% in the 3rd quarter. CWM LLC now owns 1,063 shares of the company’s stock valued at $92,000 after purchasing an additional 143 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new stake in Toro during the 2nd quarter valued at about $94,000. Institutional investors own 87.95% of the company’s stock.

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.