What Next for Toro Co (TTC) After Forming Bullish Double Top?

September 17, 2017 - By Maria Brooks

Investors sentiment decreased to 0.84 in Q4 2016. Its down 0.20, from 1.04 in 2016Q3. It worsened, as 21 investors sold Toro Co shares while 138 reduced holdings. 44 funds opened positions while 90 raised stakes. 81.92 million shares or 49.41% less from 161.94 million shares in 2016Q3 were reported.
Victory, a Ohio-based fund reported 22,668 shares. Millennium Management Limited Liability Co reported 80,558 shares stake. The Nevada-based Whittier Trust Of Nevada has invested 0% in Toro Co (NYSE:TTC). Retirement Sys Of Alabama has invested 0.05% of its portfolio in Toro Co (NYSE:TTC). Td Asset Management Incorporated holds 0.01% or 86,702 shares in its portfolio. Calvert Invest Mngmt stated it has 0.2% in Toro Co (NYSE:TTC). Pictet Asset Limited holds 0.23% of its portfolio in Toro Co (NYSE:TTC) for 1.10M shares. California-based Cetera Advisor Netwr Limited Liability Com has invested 0.01% in Toro Co (NYSE:TTC). Texas Permanent School Fund has 0.06% invested in Toro Co (NYSE:TTC). State Street Corp reported 0.01% in Toro Co (NYSE:TTC). Raub Brock Capital Mngmt Lp holds 4.87% or 282,889 shares. Royal Bancshares Of Canada has invested 0% in Toro Co (NYSE:TTC). Pine River Management Limited Partnership reported 0.02% stake. Mark Sheptoff Planning Ltd Llc stated it has 9,234 shares or 0.38% of all its holdings. Parallax Volatility Advisers Ltd Partnership stated it has 2,626 shares.

Since March 23, 2017, it had 0 insider buys, and 13 insider sales for $15.78 million activity. 5,000 Toro Co (NYSE:TTC) shares with value of $341,985 were sold by HARLESS KATHERINE J. COOPER JANET KATHERINE also sold $190,043 worth of Toro Co (NYSE:TTC) on Thursday, March 30. BURKART PHILIP A sold $1.25 million worth of Toro Co (NYSE:TTC) on Thursday, March 30. 6,842 shares were sold by O’Rourke James Calvin, worth $420,277 on Thursday, March 23. BROWN WILLIAM E JR sold $374,760 worth of stock. HOFFMAN MICHAEL J sold $8.99M worth of stock.

The chart of Toro Co (TTC) shows a double top with $63.76 target or 5.00 % above today’s $60.72 share price. The 7 months chart pattern indicates low risk for the $6.54B company. It was reported on Sep, 17 by Finviz.com. If the $63.76 price target is reached, the company will be worth $327.00 million more. Double tops are rare but powerful chart patterns.

The stock increased 0.16% or $0.1 on September 15, reaching $60.72. About 1.28M shares traded or 26.73% up from the average. Toro Co (NYSE:TTC) has risen 60.11% since September 17, 2016 and is uptrending. It has outperformed by 43.41% the S&P500.

Investors wait Toro Co (NYSE:TTC) to report on December, 14. its quarterly earnings Wall Street analysts expect $0.29 earnings per share, up $0.02 or 7.41 % from last year’s $0.27 same quarter earnings. This translates into $31.24M profit for TTC giving the stock a 52.34 P/E. This is assuming the current $0.29 EPS is accurate. Toro Co’s Wall Street analysts see -52.46 % negative EPS growth, taking into account the $0.61 EPS reproted in the previous quarter,

Toro Co (NYSE:TTC) Ratings Coverage

Among 6 analysts covering Toro (NYSE:TTC), 2 have Buy rating, 0 Sell and 4 Hold. Therefore 33% are positive. Toro had 11 analyst reports since December 4, 2015 according to SRatingsIntel. The firm earned “Neutral” rating on Friday, December 4 by Longbow. The stock of Toro Co (NYSE:TTC) earned “Neutral” rating by Sidoti on Friday, June 10. The rating was upgraded by Seaport Global Securities to “Buy” on Friday, January 13. The firm earned “Buy” rating on Friday, November 4 by Dougherty & Company. Longbow upgraded the shares of TTC in report on Monday, May 22 to “Neutral” rating. Cleveland upgraded the shares of TTC in report on Friday, March 31 to “Buy” rating. The stock has “Buy” rating by Dougherty & Company on Friday, February 24. As per Monday, December 12, the company rating was downgraded by Longbow. The firm has “Neutral” rating by Dougherty & Company given on Friday, August 25. The rating was downgraded by Seaport Global to “Hold” on Friday, August 25.

More notable recent Toro Co (NYSE:TTC) news were published by: Bizjournals.com which released: “Toro CEO Richard Olson named company chairman” on September 06, 2017, also Startribune.com with their article: “Professional segment drives Toro Co.’s quarterly earnings” published on August 24, 2017, Reuters.com published: “BRIEF-Toro Co announces Michael J. Hoffman’s retirement from board, election …” on September 05, 2017. More interesting news about Toro Co (NYSE:TTC) were released by: Fool.com and their article: “Why JM Smucker, Hormel Foods, and The Toro Company Slumped Today” published on August 24, 2017 as well as Seekingalpha.com‘s news article titled: “Toro slammed with two downgrades following Q3 earnings” with publication date: August 25, 2017.

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