The Toro Company (NYSE:TTC) Stock Position Boosted by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its stake in shares of The Toro Company (NYSE:TTC) by 118.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,378 shares of the company’s stock after buying an additional 4,546 shares during the quarter. Farther Finance Advisors LLC’s holdings in Toro were worth $671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in TTC. HighTower Advisors LLC raised its holdings in Toro by 8.8% during the fourth quarter. HighTower Advisors LLC now owns 9,191 shares of the company’s stock worth $736,000 after purchasing an additional 744 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Toro in the fourth quarter valued at $3,226,000. Inspire Advisors LLC bought a new position in Toro during the fourth quarter valued at about $402,000. King Luther Capital Management Corp grew its holdings in Toro by 3.6% during the fourth quarter. King Luther Capital Management Corp now owns 1,043,833 shares of the company’s stock worth $83,611,000 after acquiring an additional 36,750 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Toro by 68.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,762 shares of the company’s stock worth $5,027,000 after acquiring an additional 25,561 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TTC shares. Raymond James lowered their price objective on shares of Toro from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Robert W. Baird cut their price objective on Toro from $88.00 to $84.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. StockNews.com cut Toro from a “buy” rating to a “hold” rating in a report on Friday, March 7th. DA Davidson decreased their price target on Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Finally, Northland Capmk raised Toro from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.75.

Toro Trading Up 1.8 %

Toro stock opened at $73.19 on Friday. The Toro Company has a 12 month low of $71.75 and a 12 month high of $100.93. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The stock has a market cap of $7.31 billion, a P/E ratio of 18.25 and a beta of 0.70. The company’s fifty day simple moving average is $80.37 and its 200-day simple moving average is $82.97.

Toro (NYSE:TTC) last issued its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share for the quarter, hitting the consensus estimate of $0.95. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. Toro had a return on equity of 27.25% and a net margin of 9.14%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. As a group, sell-side analysts forecast that The Toro Company will post 4.41 EPS for the current fiscal year.

Toro announced that its board has approved a stock buyback program on Tuesday, December 10th that allows the company to repurchase 4,000,000 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.