We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Toro (TTC) Hits 52-Week High on Innovative Product Offerings
Read MoreHide Full Article
Shares of The Toro Company (TTC - Free Report) touched a fresh 52-week high of $63.47 on Mar 30, before retracing to close the day at $63.29.
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 $6.8 billion. The average volume of shares traded in the last three months is around 506.3K. The stock delivered a solid one-year return of around 44.7%. The company beat the Zacks Consensus Estimate in three out of the trailing four quarters, with an average positive surprise of 9.50%.
Over the past one year, Toro outperformed the Zacks categorized Tools - Handheld industry. The company’s shares gained around 44.7% during this period as compared with roughly 17.3% growth recorded by the industry.
Driving Factors
Toro's share price has been on the rise since the company posted record first-quarter fiscal 2017 results on Feb 23. Toro reported record fiscal first-quarter earnings of 41 cents per share, which increased 13.9% year over year from 36 cents. In addition, earnings surpassed the Zacks Consensus Estimate and management's guidance range of 34–36 cents per share.
Toro's sturdy landscape contractor equipment booking order position, and the fiscal first-quarter retail momentum for its new lines of professional zero-turn riding and stand-on products are anticipated to drive the company’s growth in the upcoming quarters. Further, recent industry trends indicate bright prospects for Toro's golf business in the near term.
Toro looks forward to a positive start to the residential products selling season. Moreover, the company anticipates strong compact utility loader sales growth in 2017 and believes that the latest product launches, like the mud buggy and brush cutter, will generate robust demand.
For fiscal 2017, Toro reaffirmed revenue growth of around 3–4% and net earnings to be about $2.25–$2.30 per share. For the fiscal second quarter, the company projects net earnings to be about $1.00 per share. Additionally, a combination of innovative product offerings, improving economic conditions, solid demand for golf equipment and pending irrigation projects are fueling optimism for Toro's growth.
Masonite International has a positive average earnings surprise of 18.07% for the last four quarters. The Marcus Corporation has delivered an average positive earnings surprise of 18.36% in the past four quarters. Nutrisystem generated a positive average earnings surprise of 24.88% over the trailing four quarters.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Toro (TTC) Hits 52-Week High on Innovative Product Offerings
Shares of The Toro Company (TTC - Free Report) touched a fresh 52-week high of $63.47 on Mar 30, before retracing to close the day at $63.29.
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 $6.8 billion. The average volume of shares traded in the last three months is around 506.3K. The stock delivered a solid one-year return of around 44.7%. The company beat the Zacks Consensus Estimate in three out of the trailing four quarters, with an average positive surprise of 9.50%.
Toro Company (The) Price and Consensus
Toro Company (The) Price and Consensus | Toro Company (The) Quote
Over the past one year, Toro outperformed the Zacks categorized Tools - Handheld industry. The company’s shares gained around 44.7% during this period as compared with roughly 17.3% growth recorded by the industry.
Driving Factors
Toro's share price has been on the rise since the company posted record first-quarter fiscal 2017 results on Feb 23. Toro reported record fiscal first-quarter earnings of 41 cents per share, which increased 13.9% year over year from 36 cents. In addition, earnings surpassed the Zacks Consensus Estimate and management's guidance range of 34–36 cents per share.
Toro's sturdy landscape contractor equipment booking order position, and the fiscal first-quarter retail momentum for its new lines of professional zero-turn riding and stand-on products are anticipated to drive the company’s growth in the upcoming quarters. Further, recent industry trends indicate bright prospects for Toro's golf business in the near term.
Toro looks forward to a positive start to the residential products selling season. Moreover, the company anticipates strong compact utility loader sales growth in 2017 and believes that the latest product launches, like the mud buggy and brush cutter, will generate robust demand.
For fiscal 2017, Toro reaffirmed revenue growth of around 3–4% and net earnings to be about $2.25–$2.30 per share. For the fiscal second quarter, the company projects net earnings to be about $1.00 per share. Additionally, a combination of innovative product offerings, improving economic conditions, solid demand for golf equipment and pending irrigation projects are fueling optimism for Toro's growth.
Toro currently carries a Zacks Rank #3 (Hold).
Key Picks
Better-ranked stocks in the same space include Masonite International Corporation (DOOR - Free Report) , The Marcus Corporation (MCS - Free Report) and Nutrisystem, Inc. . All the three stocks boast a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Masonite International has a positive average earnings surprise of 18.07% for the last four quarters. The Marcus Corporation has delivered an average positive earnings surprise of 18.36% in the past four quarters. Nutrisystem generated a positive average earnings surprise of 24.88% over the trailing four quarters.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>