Toro (NYSE:TTC) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research lowered shares of Toro (NYSE:TTC) from a hold rating to a sell rating in a research report report published on Friday morning, Zacks.com reports.

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. “

Separately, Sidoti set a $147.00 price target on Casey’s General Stores and gave the stock a hold rating in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $69.00.

Shares of TTC stock opened at $72.25 on Friday. The stock has a market cap of $7.70 billion, a P/E ratio of 27.06 and a beta of 0.82. The stock’s 50 day simple moving average is $67.98. Toro has a 12-month low of $52.97 and a 12-month high of $75.13. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.90.

Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, May 23rd. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). The firm had revenue of $962.00 million during the quarter, compared to analyst estimates of $987.80 million. Toro had a return on equity of 40.99% and a net margin of 10.62%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. Analysts expect that Toro will post 2.93 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Tuesday, June 25th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Monday, June 24th. Toro’s dividend payout ratio (DPR) is presently 33.71%.

In other Toro news, VP Amy E. Dahl sold 2,900 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $68.87, for a total transaction of $199,723.00. Following the sale, the vice president now owns 14,779 shares in the company, valued at approximately $1,017,829.73. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.36% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Murphy Pohlad Asset Management LLC boosted its holdings in shares of Toro by 1.2% during the first quarter. Murphy Pohlad Asset Management LLC now owns 11,778 shares of the company’s stock worth $810,000 after purchasing an additional 139 shares during the last quarter. Securian Asset Management Inc boosted its holdings in shares of Toro by 1.2% during the first quarter. Securian Asset Management Inc now owns 12,930 shares of the company’s stock worth $890,000 after purchasing an additional 149 shares during the last quarter. Private Capital Group LLC boosted its holdings in shares of Toro by 18.3% during the first quarter. Private Capital Group LLC now owns 1,106 shares of the company’s stock worth $76,000 after purchasing an additional 171 shares during the last quarter. ETF Managers Group LLC boosted its holdings in shares of Toro by 8.1% during the first quarter. ETF Managers Group LLC now owns 2,309 shares of the company’s stock worth $159,000 after purchasing an additional 174 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. boosted its holdings in shares of Toro by 1.7% during the first quarter. Piedmont Investment Advisors Inc. now owns 10,427 shares of the company’s stock worth $718,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 81.62% of the company’s stock.

Toro Company Profile

The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.

Further Reading: Ex-Dividend

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