ValuEngine Downgrades Toro (TTC) to Sell

Toro (NYSE:TTC) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Toro from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Tuesday, January 23rd. Cleveland Research cut shares of Toro from a “buy” rating to a “neutral” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $71.00.

Get Toro alerts:

Toro opened at $58.20 on Monday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.57 and a quick ratio of 0.81. The company has a market cap of $6.44 billion, a P/E ratio of 23.89, a P/E/G ratio of 2.26 and a beta of 0.66. Toro has a fifty-two week low of $56.65 and a fifty-two week high of $58.57.

Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. Toro had a net margin of 9.67% and a return on equity of 44.59%. The company had revenue of $548.25 million during the quarter, compared to analysts’ expectations of $538.92 million. During the same quarter last year, the company posted $0.41 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. equities analysts forecast that Toro will post 2.66 EPS for the current year.

In other news, Director Katherine J. Harless sold 8,000 shares of the firm’s stock in a transaction on Wednesday, March 28th. The shares were sold at an average price of $61.09, for a total value of $488,720.00. Following the sale, the director now directly owns 69,523 shares in the company, valued at approximately $4,247,160.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Blake M. Grams sold 8,200 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $64.47, for a total transaction of $528,654.00. Following the completion of the sale, the vice president now owns 8,200 shares in the company, valued at $528,654. The disclosure for this sale can be found here. Insiders sold a total of 23,200 shares of company stock valued at $1,465,864 in the last three months. 5.32% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in TTC. State of Alaska Department of Revenue acquired a new stake in shares of Toro in the 4th quarter valued at $508,000. GW&K Investment Management LLC raised its holdings in shares of Toro by 0.4% in the 4th quarter. GW&K Investment Management LLC now owns 418,121 shares of the company’s stock valued at $27,274,000 after purchasing an additional 1,807 shares in the last quarter. First Quadrant L P CA raised its holdings in shares of Toro by 10.7% in the 4th quarter. First Quadrant L P CA now owns 490,963 shares of the company’s stock valued at $32,026,000 after purchasing an additional 47,550 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Toro by 399.2% in the 4th quarter. SG Americas Securities LLC now owns 32,038 shares of the company’s stock valued at $2,090,000 after purchasing an additional 25,620 shares in the last quarter. Finally, JLB & Associates Inc. raised its holdings in shares of Toro by 5.4% in the 4th quarter. JLB & Associates Inc. now owns 208,949 shares of the company’s stock valued at $13,629,000 after purchasing an additional 10,715 shares in the last quarter. Institutional investors and hedge funds own 76.07% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.