Toro Company Issues Buy Signal

by Sam Collins | July 10, 2012 1:01 am

The Toro Company (NYSE:TTC[1]) – This company is a household name when it comes to small engine equipment. It also designs, manufactures and markets turf maintenance equipment, irrigation systems, landscaping, lighting and snow removal products. It was recently recommended by Zacks as a beneficiary of a growing need for its products from emerging nations including India and China. And it was also on my Top Stocks to Buy for July[2].

Earnings are expected to reach $2.52 in FY 2013 (ended Oct. 31) versus $2.17 in FY 2012. It has a dividend yield of a little over 1%.

Technically TTC broke from a classic cup-and-handle formation in February following a double-bottom last year. In late June, the stochastic issued a buy signal, and it has been under heavy accumulation for the past six months.

Buy TTC at the market with a trading target of $45-plus. For investors, this stock has the characteristics of a long-term hold. Toro had a 2/1 split effective July 2.

TTC Chart

Trade of the Day Chart Key

  1. TTC:
  2. Top Stocks to Buy for July:

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