Toromont Industries Ltd. (TSE:TIH) Receives C$174.75 Consensus Price Target from Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$176.22.

A number of research firms have issued reports on TIH. Scotiabank lifted their price objective on Toromont Industries from C$171.00 to C$175.00 and gave the stock a “sector perform” rating in a research note on Monday, November 3rd. Raymond James Financial boosted their price target on shares of Toromont Industries from C$125.00 to C$150.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Canaccord Genuity Group increased their price objective on shares of Toromont Industries from C$160.00 to C$172.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Canadian Imperial Bank of Commerce boosted their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a report on Friday. Finally, CIBC World Markets upped their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a research report on Saturday.

Toromont Industries Stock Up 1.9%

Shares of TIH stock opened at C$184.71 on Thursday. The company’s fifty day simple moving average is C$170.21 and its two-hundred day simple moving average is C$158.16. Toromont Industries has a 52 week low of C$107.32 and a 52 week high of C$185.17. The stock has a market cap of C$15.03 billion, a P/E ratio of 30.53, a PEG ratio of 3.72 and a beta of 0.52. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04.

Toromont Industries (TSE:TIH) last issued its earnings results on Thursday, October 30th. The company reported C$1.72 earnings per share (EPS) for the quarter. The firm had revenue of C$1.31 billion for the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%. Analysts predict that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, January 5th were given a dividend of $0.52 per share. The ex-dividend date was Friday, December 5th. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. Toromont Industries’s dividend payout ratio is 33.72%.

Insider Activity at Toromont Industries

In other news, insider Jennifer Cochrane sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of C$165.00, for a total transaction of C$825,000.00. Following the transaction, the insider owned 12,012 shares of the company’s stock, valued at approximately C$1,981,980. The trade was a 29.39% decrease in their position. Company insiders own 0.27% of the company’s stock.

About Toromont Industries

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.