Toro Co (TTC) is Downgraded by Sidoti to Neutral

Toro Co (TTC) was Downgraded by Sidoti to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Sidoti advised their investors in a research report released on Jun 10, 2016.

Many Wall Street Analysts have commented on Toro Co. Seaport Global Securities Initiated Toro Co on May 24, 2016 to “Neutral”, Price Target of the shares are set at $87.

On the company’s financial health, Toro Co reported $1.89 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 19, 2016. Analyst had a consensus of $1.80. The company had revenue of $836.40 million for the quarter, compared to analysts expectations of $853.87 million. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS.

Toro Co opened for trading at $89.2 and hit $89.5 on the upside on Thursday, eventually ending the session at $89.37, with a gain of 0.15% or 0.13 points. The heightened volatility saw the trading volume jump to 1,80,887 shares. Company has a market cap of $4,918 M.

Investors should note that on May 17, 2016, Toro Co announced a cash dividend of $0.3000. The company’s management has announced Jun 17, 2016 as the ex-dividend date and fixed the record date on Jun 21, 2016. The payable date has been fixed on Jul 12, 2016.

In a different news, on May 31, 2016, Philip A Burkart (VP, Irrig. & Lighting Business) sold 6,600 shares at $89.00 per share price. According to the SEC, on May 26, 2016, William E Jr Brown (Group VP, Res & Cont) sold 9,932 shares at $87.93 per share price. On Mar 24, 2016, Darren L Redetzke (VP, International Business) sold 9,600 shares at $86.50 per share price, according to the Form-4 filing with the securities and exchange commission.

The Toro Company (Toro) designs manufactures and markets professional turf maintenance equipment and services turf irrigation systems landscaping equipment and lighting agricultural micro-irrigation systems rental and construction equipment and residential yard and snow removal products. The Company sells its products across the world through a network of distributors dealers hardware retailers home centers mass retailers and over the Internet under the names of Toro Exmark Irritrol Hayter Pope Unique Lighting Systems Lawn-Boy and Lawn Genie. The Company operates in three business segments: Professional through which the Company designs professional turf landscape and agricultural products and markets them across the world; Residential which markets its residential products to homeowners and Distribution which consists of the Company’s owned domestic distributorships.

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