The Toro Company (NYSE:TTC) Sees Significant Decrease in Short Interest

by · The Cerbat Gem

The Toro Company (NYSE:TTC – Get Free Report) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 5,380,000 shares, a drop of 17.0% from the August 31st total of 6,480,000 shares. Based on an average daily trading volume, of 919,000 shares, the days-to-cover ratio is presently 5.9 days. Currently, 5.3% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TTC. Northland Securities reaffirmed a “market perform” rating and issued a $100.00 target price on shares of Toro in a report on Friday, September 6th. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Robert W. Baird dropped their target price on Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, DA Davidson cut their price target on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $93.33.

Get Our Latest Analysis on TTC

Toro Trading Up 0.0 %

Shares of Toro stock opened at $86.65 on Monday. The company has a fifty day simple moving average of $89.25 and a 200-day simple moving average of $89.22. Toro has a 12-month low of $77.15 and a 12-month high of $102.00. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 34.25 and a beta of 0.69.

Toro (NYSE:TTC – Get Free Report) last announced its earnings results on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. On average, equities analysts forecast that Toro will post 4.16 EPS for the current fiscal year.

Toro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a $0.36 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.44 annualized dividend and a yield of 1.66%. Toro’s dividend payout ratio (DPR) is 56.92%.

Institutional Trading of Toro

A number of large investors have recently bought and sold shares of the business. UMB Bank n.a. raised its holdings in shares of Toro by 1,204.8% in the first quarter. UMB Bank n.a. now owns 274 shares of the company’s stock valued at $25,000 after buying an additional 253 shares during the last quarter. Rise Advisors LLC lifted its position in Toro by 2,057.1% during the 1st quarter. Rise Advisors LLC now owns 302 shares of the company’s stock worth $28,000 after acquiring an additional 288 shares during the period. Headlands Technologies LLC acquired a new stake in Toro during the 1st quarter worth approximately $66,000. Covestor Ltd grew its stake in shares of Toro by 522.6% in the 1st quarter. Covestor Ltd now owns 716 shares of the company’s stock valued at $66,000 after purchasing an additional 601 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Toro in the first quarter valued at approximately $72,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Toro Company Profile

(Get Free Report)

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.

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