Toromont Industries (TSE:TIH) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Toromont Industries Ltd. (TSE:TIH)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$189.93 and traded as high as C$225.54. Toromont Industries shares last traded at C$220.51, with a volume of 165,436 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TIH. Scotiabank increased their price target on Toromont Industries from C$181.00 to C$208.00 in a research report on Wednesday, February 18th. Canadian Imperial Bank of Commerce increased their price target on Toromont Industries from C$172.00 to C$180.00 in a research report on Friday, February 6th. Scotia increased their price target on Toromont Industries from C$208.00 to C$229.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. BMO Capital Markets increased their price target on Toromont Industries from C$215.00 to C$228.00 in a research report on Wednesday, April 29th. Finally, Raymond James Financial increased their price target on Toromont Industries from C$180.00 to C$190.00 and gave the company a “market perform” rating in a research report on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$216.44.

Toromont Industries Price Performance

The stock has a market capitalization of C$17.98 billion, a price-to-earnings ratio of 35.06, a price-to-earnings-growth ratio of 3.72 and a beta of 0.96. The company has a current ratio of 3.17, a quick ratio of 1.38 and a debt-to-equity ratio of 25.19. The stock has a 50-day simple moving average of C$210.35 and a 200 day simple moving average of C$189.93.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, April 28th. The company reported C$1.13 EPS for the quarter. Toromont Industries had a return on equity of 16.06% and a net margin of 9.64%.The firm had revenue of C$1.23 billion during the quarter. On average, equities research analysts forecast that Toromont Industries Ltd. will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.56 per share. The ex-dividend date is Friday, June 5th. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. Toromont Industries’s dividend payout ratio (DPR) is presently 33.70%.

Insider Buying and Selling at Toromont Industries

In other news, Director David Allan Malinauskas sold 972 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of C$201.60, for a total transaction of C$195,955.20. 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.