Toromont Industries Ltd (TSE:TIH)‘s stock had its “sector perform” rating reaffirmed by equities researchers at National Bank Financial in a note issued to investors on Monday. They currently have a C$60.00 target price on the stock. National Bank Financial’s price target points to a potential upside of 6.38% from the stock’s current price.

A number of other research firms also recently issued reports on TIH. BMO Capital Markets reiterated a “market perform” rating and set a C$58.00 price objective on shares of Toromont Industries in a report on Monday, October 16th. TD Securities upgraded Toromont Industries from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$48.00 to C$65.00 in a report on Wednesday, September 20th. Scotiabank increased their price objective on Toromont Industries from C$47.00 to C$53.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 29th. Raymond James Financial, Inc. increased their price objective on Toromont Industries from C$55.00 to C$58.50 and gave the stock an “outperform” rating in a report on Tuesday, August 29th. Finally, Canaccord Genuity increased their price objective on Toromont Industries from C$50.00 to C$58.00 and gave the stock a “buy” rating in a report on Tuesday, August 29th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Toromont Industries has an average rating of “Hold” and a consensus target price of C$55.94.

Shares of Toromont Industries (TIH) traded down 0.86% during midday trading on Monday, hitting $56.40. The stock had a trading volume of 179,051 shares. Toromont Industries has a one year low of $39.01 and a one year high of $58.44. The company has a market capitalization of $4.43 billion and a PE ratio of 27.81. The firm’s 50-day moving average is $56.26 and its 200 day moving average is $49.07.

Toromont Industries (TSE:TIH) last posted its quarterly earnings data on Tuesday, July 25th. The company reported C$0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.55 by C($0.04). The firm had revenue of C$530.93 million for the quarter, compared to the consensus estimate of C$550.60 million. Toromont Industries had a return on equity of 17.80% and a net margin of 7.62%. Equities analysts expect that Toromont Industries will post $2.13 earnings per share for the current fiscal year.

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In related news, Director Scott Medhurst sold 4,848 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of C$52.50, for a total transaction of C$254,520.00. Also, Director Randall Casson sold 8,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of C$53.60, for a total value of C$428,800.00. Insiders have sold 35,348 shares of company stock valued at $1,936,950 over the last three months.

Toromont Industries Company Profile

Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.

Analyst Recommendations for Toromont Industries (TSE:TIH)

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