Toromont Industries (TIH) PT Raised to C$70.00
Toromont Industries (TSE:TIH) had its price objective lifted by research analysts at National Bank Financial from C$60.00 to C$70.00 in a research report issued on Tuesday. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s target price suggests a potential upside of 2.79% from the stock’s previous close.
TIH has been the subject of a number of other reports. Raymond James cut their price objective on shares of Toromont Industries from C$71.00 to C$70.00 and set an “outperform” rating for the company in a research report on Wednesday, November 7th. CIBC restated a “hold” rating and issued a C$70.00 price objective (up from C$64.00) on shares of Toromont Industries in a research report on Tuesday. Canaccord Genuity lowered shares of Toromont Industries from a “buy” rating to a “hold” rating and cut their price objective for the company from C$64.00 to C$57.00 in a research report on Tuesday, January 8th. BMO Capital Markets raised their price objective on shares of Toromont Industries from C$66.00 to C$72.00 in a research report on Tuesday. Finally, Royal Bank of Canada raised their price objective on shares of Toromont Industries from C$62.00 to C$66.00 and gave the company a “sector perform” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of C$68.38.
TSE:TIH traded up C$2.57 on Tuesday, reaching C$68.10. 222,042 shares of the company’s stock were exchanged, compared to its average volume of 127,493. The company has a quick ratio of 0.77, a current ratio of 1.58 and a debt-to-equity ratio of 48.62. The firm has a market capitalization of $5.34 billion and a PE ratio of 22.22. Toromont Industries has a 52 week low of C$51.02 and a 52 week high of C$69.25.
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 is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in a variety of applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.
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