Toromont Industries Ltd (TSE:TIH) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Four research 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 issued a report on the stock in the last year is C$60.50.
A number of analysts have recently issued reports on TIH shares. BMO Capital Markets reaffirmed a “market perform” rating and set a C$58.00 target price on shares of Toromont Industries in a research report on Monday, October 16th. National Bank Financial reiterated a “sector perform” rating and issued a C$60.00 price target on shares of Toromont Industries in a research note on Monday, October 23rd. Raymond James Financial lifted their price target on Toromont Industries from C$58.50 to C$63.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Scotiabank lifted their price target on Toromont Industries from C$53.00 to C$59.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 9th. Finally, CIBC lifted their price target on Toromont Industries from C$59.00 to C$60.00 in a research note on Monday, January 15th.
In related news, insider David Wetherald sold 4,000 shares of Toromont Industries stock in a transaction dated Monday, November 20th. The stock was sold at an average price of C$56.75, for a total value of C$227,000.00.
Toromont Industries (TSE:TIH) last announced its earnings results on Tuesday, November 7th. The company reported C$0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.59 by C$0.03. Toromont Industries had a return on equity of 20.99% and a net margin of 8.45%. The business had revenue of C$584.16 million for the quarter.
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About Toromont Industries
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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