Toromont Industries (TSE:TIH) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Toromont Industries Ltd. (TSE:TIH)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$141.74 and traded as high as C$163.56. Toromont Industries shares last traded at C$162.42, with a volume of 146,178 shares traded.

Wall Street Analysts Forecast Growth

TIH has been the subject of a number of research reports. National Bankshares lifted their price objective on Toromont Industries from C$164.00 to C$176.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Scotiabank lifted their price target on Toromont Industries from C$171.00 to C$175.00 and gave the company a “sector perform” rating in a report on Monday, November 3rd. Canaccord Genuity Group boosted their price target on Toromont Industries from C$160.00 to C$172.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Raymond James Financial raised their price objective on shares of Toromont Industries from C$125.00 to C$150.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Finally, BMO Capital Markets boosted their target price on shares of Toromont Industries to C$178.00 in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$172.88.

Toromont Industries Price Performance

The stock has a market cap of C$13.22 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 3.72 and a beta of 0.58. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The company’s 50-day moving average is C$159.57 and its 200-day moving average is C$141.74.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Thursday, October 30th. The company reported C$1.72 earnings per share for the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%.The company had revenue of C$1.31 billion for the quarter. Equities research analysts expect that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, January 5th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. Toromont Industries’s dividend payout ratio (DPR) is presently 33.72%.

Insider Buying and Selling at Toromont Industries

In other news, insider Mike Cuddy sold 7,500 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of C$146.00, for a total value of C$1,095,000.00. Following the sale, the insider owned 36,955 shares of the company’s stock, valued at approximately C$5,395,430. This represents a 16.87% decrease in their position. Also, Director David Allan Malinauskas sold 6,000 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of C$146.10, for a total transaction of C$876,600.00. 0.27% of the stock is currently owned by insiders.

Toromont Industries Company Profile

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.