Toro Co (NYSE:TTC) – Dougherty & Co increased their FY2018 EPS estimates for shares of Toro in a note issued to investors on Wednesday. Dougherty & Co analyst J. Fisher now expects that the company will earn $2.62 per share for the year, up from their prior estimate of $2.54. Dougherty & Co currently has a “Neutral” rating on the stock.
Other research analysts also recently issued research reports about the company. BidaskClub downgraded Toro from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Zacks Investment Research downgraded Toro from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Seaport Global Securities downgraded Toro from a “buy” rating to a “neutral” rating and set a $67.00 target price on the stock. in a report on Friday, August 25th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $68.67.
Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, December 7th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $488.60 million during the quarter, compared to the consensus estimate of $491.55 million. Toro had a return on equity of 44.66% and a net margin of 10.69%. Toro’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. This is a boost from Toro’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, December 21st. Toro’s dividend payout ratio is presently 29.05%.
In other news, VP David H. Alkire sold 23,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $65.83, for a total transaction of $1,514,090.00. Following the sale, the vice president now directly owns 14,769 shares in the company, valued at approximately $972,243.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katherine J. Harless sold 6,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $61.88, for a total value of $371,280.00. Following the sale, the director now owns 77,672 shares in the company, valued at $4,806,343.36. The disclosure for this sale can be found here. 5.69% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Fieldpoint Private Securities LLC acquired a new stake in shares of Toro during the 3rd quarter worth approximately $172,000. Tocqueville Asset Management L.P. acquired a new stake in shares of Toro during the 2nd quarter worth approximately $212,000. Advisory Services Network LLC raised its position in shares of Toro by 17.4% during the 2nd quarter. Advisory Services Network LLC now owns 3,556 shares of the company’s stock worth $246,000 after purchasing an additional 527 shares during the period. Mckinley Capital Management LLC Delaware raised its position in shares of Toro by 25.3% during the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 6,766 shares of the company’s stock worth $420,000 after purchasing an additional 1,366 shares during the period. Finally, Alps Advisors Inc. raised its position in shares of Toro by 0.6% during the 2nd quarter. Alps Advisors Inc. now owns 8,825 shares of the company’s stock worth $611,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.
The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.
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