BMO Capital Markets reiterated their market perform rating on shares of Toromont Industries Ltd (TSE:TIH) in a report published on Monday morning. They currently have a C$58.00 target price on the stock.

A number of other research analysts have also recently issued reports on TIH. Scotiabank reaffirmed a sector perform rating and set a C$48.50 price objective on shares of Toromont Industries in a research note on Wednesday, July 26th. TD Securities raised their price objective on Toromont Industries from C$47.00 to C$48.00 and gave the company a hold rating in a research note on Thursday, July 27th. Raymond James Financial, Inc. raised their price objective on Toromont Industries from C$55.00 to C$58.50 and gave the company an outperform rating in a research note on Tuesday, August 29th. Canaccord Genuity raised their target price on Toromont Industries from C$50.00 to C$58.00 and gave the stock a buy rating in a research note on Tuesday, August 29th. Finally, National Bank Financial raised their target price on Toromont Industries from C$52.00 to C$55.00 and gave the stock an outperform rating in a research note on Tuesday, August 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of Buy and an average price target of C$55.94.

Shares of Toromont Industries (TSE:TIH) opened at 57.80 on Monday. The firm has a 50 day moving average price of $55.74 and a 200-day moving average price of $48.71. Toromont Industries has a 52-week low of $39.01 and a 52-week high of $58.44. The company has a market cap of $4.54 billion and a price-to-earnings ratio of 28.50.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, July 25th. The company reported C$0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.55 by C($0.04). Toromont Industries had a net margin of 7.62% and a return on equity of 17.80%. The company had revenue of C$530.93 million for the quarter, compared to the consensus estimate of C$550.60 million. Equities research analysts anticipate that Toromont Industries will post $2.13 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were paid a $0.19 dividend. The ex-dividend date was Thursday, September 7th. This represents a $0.76 annualized dividend and a dividend yield of 1.31%.

In related news, Director Randall Casson sold 4,300 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of C$57.25, for a total value of C$246,175.00. Also, insider David Allan Malinauskas sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of C$53.50, for a total value of C$85,600.00. Insiders sold 35,348 shares of company stock worth $1,936,950 over the last three months.

About Toromont Industries

Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.

Analyst Recommendations for Toromont Industries (TSE:TIH)

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