Sidoti & Co. Downgrades Toro Co to Neutral

Brokerage firm Sidoti & Co. Downgrades its rating on Toro Co(NYSE:TTC). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Sidoti & Co. was issued on Jun 10, 2016.

Toro Co (TTC) made into the market gainers list on Wednesdays trading session with the shares advancing 0.56% or 0.48 points. Due to strong positive momentum, the stock ended at $86.68, which is also near the day’s high of $87.12. The stock began the session at $86.67 and the volume stood at 2,05,430 shares. The 52-week high of the shares is $89.99 and the 52 week low is $64.71. The company has a current market capitalization of $4,770 M and it has 5,50,32,963 shares in outstanding.

Toro Co has also declared a cash dividend of $0.3000 on May 17, 2016. The shares will quote ex-dividend on Jun 17, 2016 and the record date has been fixed on Jun 21, 2016. The dividend payable date has been fixed on Jul 12, 2016.

Toro Co(TTC) last announced its earnings results on May 19, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $836.44M. Analysts had an estimated revenue of $854.00M. Earnings per share were $1.89. Analysts had estimated an EPS of $1.79.

Several Insider Transactions has been reported to the SEC. On May 31, 2016, Philip A Burkart (VP, Irrig. & Lighting Business) sold 6,600 shares at $89.00 per share price.Also, 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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