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Toro (TTC) Hits 52-Week High on Strong Q2 Results & Outlook
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Shares of The Toro Company (TTC - Free Report) scaled a new 52-week high of $69.57 on Jun 2, before retracing to close the day at $69.08.
This Bloomington, MN-based provider of turf and landscape maintenance equipment, as well as irrigation solutions for golf courses, has a market cap of roughly $7.43 billion. The average volume of shares traded in the last three months is around 489.5K.
The stock delivered a year-to-date return of around 23.8%. The company beat the Zacks Consensus Estimate in three out of the trailing four quarters, with an average positive surprise of 9.60%.
In the past one year, Toro outperformed the Zacks categorized Tools - Handheld industry. The company’s shares gained around 57.6% during this period as compared with roughly 22.1% growth recorded by the industry.
Driving Factors
Toro's share price has been on the rise since the company reported record second-quarter fiscal 2017 results on May 25. Toro reported second-quarter fiscal 2017 (ended May 5, 2017) results, wherein earnings improved over 14.9% to $1.08 per share from 94 cents recorded in the year-ago quarter. Further, earnings beat the Zacks Consensus Estimate of $1.03.
Toro raised guidance for fiscal 2017. The company projects revenue growth of around 4.5% and net earnings to be about $2.35 per share. For third-quarter fiscal 2017, it anticipates net earnings to be about 56 cents per share.
In second half of the fiscal year, Toro will deliver value-added innovations in the markets and industries, while maintaining operational flexibility and prudently managing expenses. Further, golf equipment business continues to perform well as customers enhance their fleets with innovative turf solutions. Additionally, the company remains focused on delivering innovative products.
Toro currently carries a Zacks Rank #3 (Hold).
Key Picks
Better-ranked stocks in the same space include The Marcus Corporation (MCS - Free Report) , Nutrisystem, Inc. and American Woodmark Corporation (AMWD - Free Report) . The Marcus Corporation has delivered an average positive earnings surprise of 15.38% in the past four quarters and flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nutrisystem, another Zacks Rank #1 stock, pulled off a positive average earnings surprise of 17.52% in the trailing four quarters. American Woodmark Corporation carries a Zacks Rank #2 (Buy) and delivered an earnings surprise of 12.94% in the last four quarters.
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Toro (TTC) Hits 52-Week High on Strong Q2 Results & Outlook
Shares of The Toro Company (TTC - Free Report) scaled a new 52-week high of $69.57 on Jun 2, before retracing to close the day at $69.08.
This Bloomington, MN-based provider of turf and landscape maintenance equipment, as well as irrigation solutions for golf courses, has a market cap of roughly $7.43 billion. The average volume of shares traded in the last three months is around 489.5K.
The stock delivered a year-to-date return of around 23.8%. The company beat the Zacks Consensus Estimate in three out of the trailing four quarters, with an average positive surprise of 9.60%.
In the past one year, Toro outperformed the Zacks categorized Tools - Handheld industry. The company’s shares gained around 57.6% during this period as compared with roughly 22.1% growth recorded by the industry.
Driving Factors
Toro's share price has been on the rise since the company reported record second-quarter fiscal 2017 results on May 25. Toro reported second-quarter fiscal 2017 (ended May 5, 2017) results, wherein earnings improved over 14.9% to $1.08 per share from 94 cents recorded in the year-ago quarter. Further, earnings beat the Zacks Consensus Estimate of $1.03.
Toro Company Price and Consensus
Toro Company Price and Consensus | Toro Company Quote
Toro raised guidance for fiscal 2017. The company projects revenue growth of around 4.5% and net earnings to be about $2.35 per share. For third-quarter fiscal 2017, it anticipates net earnings to be about 56 cents per share.
In second half of the fiscal year, Toro will deliver value-added innovations in the markets and industries, while maintaining operational flexibility and prudently managing expenses. Further, golf equipment business continues to perform well as customers enhance their fleets with innovative turf solutions. Additionally, the company remains focused on delivering innovative products.
Toro currently carries a Zacks Rank #3 (Hold).
Key Picks
Better-ranked stocks in the same space include The Marcus Corporation (MCS - Free Report) , Nutrisystem, Inc. and American Woodmark Corporation (AMWD - Free Report) . The Marcus Corporation has delivered an average positive earnings surprise of 15.38% in the past four quarters and flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nutrisystem, another Zacks Rank #1 stock, pulled off a positive average earnings surprise of 17.52% in the trailing four quarters. American Woodmark Corporation carries a Zacks Rank #2 (Buy) and delivered an earnings surprise of 12.94% in the last four quarters.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>