Toast’s (TOST) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Toast (NYSE:TOST) in a report published on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a $27.00 price objective on the stock.

TOST has been the topic of a number of other reports. Bank of America dropped their price target on Toast from $28.00 to $26.00 and set a neutral rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $26.00 target price on shares of Toast in a research note on Wednesday, May 29th. Morgan Stanley boosted their price target on shares of Toast from $29.00 to $30.00 and gave the company an overweight rating in a report on Wednesday. Needham & Company LLC reaffirmed a buy rating and issued a $30.00 price objective on shares of Toast in a report on Wednesday. Finally, Robert W. Baird lowered shares of Toast from an outperform rating to a neutral rating and set a $28.00 target price for the company. in a research note on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Toast presently has a consensus rating of Hold and an average target price of $27.85.

Toast Trading Up 1.3 %

Toast stock traded up $0.30 during midday trading on Wednesday, hitting $23.01. The stock had a trading volume of 1,397,454 shares, compared to its average volume of 7,901,360. The business has a fifty day moving average price of $24.74 and a 200 day moving average price of $23.52. Toast has a 12 month low of $13.77 and a 12 month high of $27.90. The stock has a market cap of $10.42 billion, a P/E ratio of -45.44 and a beta of 1.76.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the business posted ($0.19) earnings per share. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, equities analysts anticipate that Toast will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider James Michael Matlock sold 9,173 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $220,152.00. Following the completion of the sale, the insider now directly owns 55,548 shares of the company’s stock, valued at approximately $1,333,152. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Toast news, insider James Michael Matlock sold 9,173 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $220,152.00. Following the completion of the sale, the insider now directly owns 55,548 shares of the company’s stock, valued at $1,333,152. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Stephen Fredette sold 1,127 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $27,048.00. Following the completion of the transaction, the president now owns 2,849,709 shares of the company’s stock, valued at $68,393,016. The disclosure for this sale can be found here. Insiders have sold 368,352 shares of company stock worth $9,381,482 in the last ninety days. 13.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Toast

Several large investors have recently added to or reduced their stakes in TOST. West Branch Capital LLC bought a new position in shares of Toast during the 2nd quarter valued at $26,000. LRI Investments LLC bought a new position in Toast during the first quarter valued at about $27,000. Principal Securities Inc. bought a new stake in shares of Toast during the 4th quarter worth about $30,000. Cape Investment Advisory Inc. bought a new position in shares of Toast in the 4th quarter valued at approximately $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Toast during the second quarter worth approximately $33,000. 82.91% of the stock is owned by institutional investors.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.