In a June 21 note to investors, Michael Shlisky, managing director and senior research analyst at DA Davidson, stated he saw solid growth opportunities for Toro based on golf course surveys and Ditch Witch dealer sentiment.

DA Davidson had surveyed multiple golf courses throughout the U.S., finding that two-thirds are seeing more activity than in 2022 and none are cutting their equipment budgets. The survey also saw golf courses maintaining their equipment replacement schedule and none are cutting budgets. Around 75% of golf courses felt good about their business in both 2023 and 2024.

DA Davidson also checked in with a group of Ditch Witch dealers, finding they forecast a positive year for 2024, with current inventories seen as "adequate."

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