Residential Does Well, But Professional Segment Holds Back The Company
I reviewed The Toro Company (TTC) last quarter, rating it Neutral with the stock trading at $73.47 at the time. It was not a Buy at that level because sales declines in the larger and higher-margin Professional segment were more than offsetting growth in the Residential segment from the COVID-19 stay-at-home trend. In late June and early July, buying opportunities were available as the stock traded into my $60-$65 target range.
In my last review, I noted that management expected 3Q results to show