Toromont Industries Ltd (TIH) Given Average Recommendation of “Hold” by Analysts
Shares of Toromont Industries Ltd (TSE:TIH) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$55.94.
Several equities analysts have recently issued reports on TIH shares. TD Securities raised Toromont Industries from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$48.00 to C$65.00 in a research report on Wednesday, September 20th. Canaccord Genuity lifted their price target on Toromont Industries from C$50.00 to C$58.00 and gave the stock a “buy” rating in a research report on Tuesday, August 29th. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$58.00 price target on shares of Toromont Industries in a research report on Monday, October 16th. National Bank Financial lifted their price target on Toromont Industries from C$55.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 5th. Finally, Raymond James Financial, Inc. lifted their price target on Toromont Industries from C$55.00 to C$58.50 and gave the stock an “outperform” rating in a research report on Tuesday, August 29th.
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In other Toromont Industries news, Director Scott Medhurst sold 4,848 shares of the business’s stock in a transaction dated 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 business’s stock in a transaction dated 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 sold a total of 35,348 shares of company stock valued at $1,936,950 over the last quarter.
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.
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