Toromont Industries (TSE:TIH) PT Lowered to C$132.00

Toromont Industries (TSE:TIH) had its price objective cut by research analysts at Raymond James from C$135.00 to C$132.00 in a research report issued on Friday, BayStreet.CA reports. The firm presently has a “market perform” rating on the stock. Raymond James’ target price suggests a potential upside of 7.95% from the company’s current price.

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

Toromont Industries Price Performance

Shares of TSE TIH opened at C$122.28 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 25.41. The company has a market capitalization of C$10.06 billion, a PE ratio of 19.17, a P/E/G ratio of 3.72 and a beta of 0.72. The firm has a fifty day simple moving average of C$128.32 and a 200 day simple moving average of C$119.31. Toromont Industries has a twelve month low of C$100.81 and a twelve month high of C$135.53.

Toromont Industries (TSE:TIH) last posted its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 earnings per share for the quarter, topping the consensus estimate of C$1.73 by C$0.13. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. The firm had revenue of C$1.23 billion during the quarter, compared to analyst estimates of C$1.19 billion. On average, sell-side analysts forecast that Toromont Industries will post 6.3025012 EPS for the current year.

Insider Activity at Toromont Industries

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of C$128.00, for a total value of C$384,000.00. In related news, Senior Officer Jennifer Cochrane sold 3,000 shares of Toromont Industries stock in a transaction 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, Director David Allan Malinauskas sold 8,700 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of C$125.25, for a total value of C$1,089,675.00. Insiders have sold 21,700 shares of company stock valued at $2,727,180 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Toromont Industries Company Profile

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.