Toromont Industries (TSE:TIH) has been given a C$58.00 price objective by equities research analysts at Royal Bank of Canada in a research note issued on Monday. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 9.56% from the stock’s previous close.

Several other analysts also recently weighed in on the company. National Bank Financial upped their price target on Toromont Industries from C$60.00 to C$63.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 9th. Scotiabank increased their target price on Toromont Industries from C$53.00 to C$59.00 and gave the company a “sector perform” rating in a research note on Thursday, November 9th. CIBC increased their target price on Toromont Industries from C$59.00 to C$60.00 in a research note on Monday, January 15th. Raymond James Financial increased their target price on Toromont Industries from C$58.50 to C$63.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a C$58.00 target price on shares of Toromont Industries in a research note on Monday, October 16th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of C$60.50.

Shares of Toromont Industries (TSE TIH) opened at C$52.94 on Monday. The firm has a market capitalization of $4,280.00, a P/E ratio of 25.82 and a beta of 0.82. Toromont Industries has a 52 week low of C$41.87 and a 52 week high of C$58.44.

Toromont Industries (TSE:TIH) last posted its quarterly earnings results on Tuesday, November 7th. The company reported C$0.62 earnings per share for the quarter, topping the consensus estimate of C$0.59 by C$0.03. The company had revenue of C$584.16 million for the quarter. Toromont Industries had a return on equity of 20.99% and a net margin of 8.45%.

In other Toromont Industries news, insider David Wetherald sold 4,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of C$56.75, for a total transaction of C$227,000.00.

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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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