Get Bullish on Toro Company

by Sam Collins | February 14, 2013 1:22 am

Get Bullish on Toro Company

Toro Company (NYSE:TTC[1]) — This is a household name when it comes to small engine equipment, but it also designs, manufactures and markets turf maintenance equipment, irrigation systems, landscaping, lighting and snow removal products. It is a beneficiary of a growing need for its products from emerging nations including India and China.

Earnings are expected to reach $2.43 in fiscal year (FY) 2013 (ended Oct. 31), and the average estimate for FY 2014 is $2.82. Toro has proven to be a steady performer with predictable growth. Analysts believe TTC could accelerate in line with a better housing market.

The stock was last recommended by the Trade of the Day[2] on July 10, 2012, at $38.08.

Technically, TTC is in a powerful, long-term bull channel with support at its 50-day moving average at $43.80 and its bullish support line just under $40. The MACD is bullish, and the long-term price objective is $58.

Traders should watch TTC, buying into weakness and selling into strength as the stock bounces between its support and resistance lines.

02 14 13 ttc 300x202 Get Bullish on Toro Company
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chart key 300x84 Get Bullish on Toro Company

Endnotes:
  1. TTC: http://studio-5.financialcontent.com/investplace/quote?Symbol=TTC
  2. Trade of the Day: http://www.investorplace.com/2012/07/trade-of-the-day-the-toro-company-nyse-ttc/

Source URL: http://investorplace.com/2013/02/trade-of-the-day-toro-company-nyse-ttc/
Short URL: http://invstplc.com/1nuavaC