Toromont Industries (TSE:TIH) Stock Price Expected to Rise, Scotiabank Analyst Says

Toromont Industries (TSE:TIH) had its price target raised by stock analysts at Scotiabank from C$181.00 to C$208.00 in a research note issued on Wednesday,BayStreet.CA reports. Scotiabank’s price objective would suggest a potential upside of 1.69% from the company’s current price.

TIH has been the subject of several other research reports. Raymond James Financial upped their price target on shares of Toromont Industries from C$172.00 to C$180.00 in a research report on Thursday, February 12th. National Bank Financial boosted their price target on shares of Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Canaccord Genuity Group increased their price objective on Toromont Industries from C$172.00 to C$200.00 in a research report on Friday, February 13th. BMO Capital Markets raised their target price on shares of Toromont Industries from C$196.00 to C$210.00 in a report on Thursday, February 12th. Finally, TD Securities raised their target price on Toromont Industries from C$195.00 to C$228.00 and gave the stock a “buy” rating in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$198.63.

Toromont Industries Price Performance

Shares of TIH opened at C$204.54 on Wednesday. The stock has a 50 day moving average of C$176.42 and a 200-day moving average of C$161.91. Toromont Industries has a 52 week low of C$107.32 and a 52 week high of C$207.86. The firm has a market cap of C$16.66 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 3.72 and a beta of 0.52. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04.

Toromont Industries (TSE:TIH) last released its earnings results on Tuesday, February 10th. The company reported C$1.92 earnings per share for the quarter. Toromont Industries had a net margin of 10.09% and a return on equity of 17.74%. The firm had revenue of C$1.42 billion during the quarter. As a group, analysts forecast that Toromont Industries will post 6.5892495 EPS for the current year.

Insider Activity at Toromont Industries

In related news, insider Jennifer Cochrane sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total value of C$825,000.00. Following the sale, the insider directly owned 12,012 shares in the company, valued at C$1,981,980. The trade was a 29.39% decrease in their position. 0.27% of the stock is owned by company insiders.

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.