Toromont Industries (TSE:TIH) Price Target Cut to C$125.00

Toromont Industries (TSE:TIH) had its target price decreased by research analysts at Scotiabank from C$133.00 to C$125.00 in a report released on Friday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 2.22% from the stock’s current price.

A number of other equities research analysts have also commented on the company. Canaccord Genuity Group raised their price objective on Toromont Industries from C$123.00 to C$138.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. CIBC lowered their price objective on shares of Toromont Industries from C$130.00 to C$128.00 and set a “neutral” rating on the stock in a research report on Friday. National Bankshares cut their target price on shares of Toromont Industries from C$137.00 to C$132.00 and set an “outperform” rating for the company in a research report on Friday. BMO Capital Markets boosted their price target on shares of Toromont Industries from C$124.00 to C$130.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Finally, TD Securities cut their price objective on Toromont Industries from C$145.00 to C$140.00 and set a “buy” rating for the company in a report on Friday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$132.75.

Toromont Industries Stock Down 0.4 %

Shares of TSE:TIH opened at C$122.28 on Friday. The firm has a 50 day simple moving average of C$128.32 and a 200 day simple moving average of C$119.31. Toromont Industries has a 52 week low of C$100.81 and a 52 week high of C$135.53. The company has a debt-to-equity ratio of 25.41, a quick ratio of 1.38 and a current ratio of 2.64. The company has a market cap of C$10.06 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72.

Toromont Industries (TSE:TIH) last released its earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.13. The company had revenue of C$1.23 billion during the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. As a group, research analysts expect that Toromont Industries will post 6.3025012 earnings per share for the current year.

Insiders Place Their Bets

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of C$128.00, for a total value of C$384,000.00. In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of C$128.00, for a total transaction of C$384,000.00. Also, Senior Officer Mike Cuddy sold 4,800 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.10, for a total transaction of C$600,480.00. Insiders have sold 21,700 shares of company stock valued at $2,727,180 over the last three months. 0.27% of the stock is currently owned by insiders.

About Toromont Industries

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.