Toromont Industries (TSE:TIH) PT Lowered to C$140.00

Toromont Industries (TSE:TIH) had its target price trimmed by TD Securities from C$145.00 to C$140.00 in a report published on Friday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also weighed in on the stock. Scotiabank lifted their target price on shares of Toromont Industries from C$125.00 to C$133.00 and gave the company a sector perform rating in a research report on Thursday, February 15th. Canaccord Genuity Group lifted their price objective on Toromont Industries from C$123.00 to C$138.00 and gave the company a buy rating in a report on Thursday, February 15th. National Bankshares set a C$137.00 target price on Toromont Industries and gave the stock an outperform rating in a report on Thursday, February 15th. Raymond James boosted their price target on Toromont Industries from C$125.00 to C$135.00 and gave the company an outperform rating in a research note on Thursday, February 15th. Finally, Royal Bank of Canada increased their price objective on Toromont Industries from C$125.00 to C$140.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of C$133.13.

Toromont Industries Price Performance

Shares of TSE:TIH opened at C$123.64 on Friday. The business’s 50 day moving average is C$128.24 and its 200-day moving average is C$119.52. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 25.41. The firm has a market capitalization of C$10.18 billion, a PE ratio of 19.38, a PEG ratio of 3.72 and a beta of 0.72. Toromont Industries has a 1-year low of C$100.81 and a 1-year high of C$135.53.

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

Toromont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.92 annualized dividend and a yield of 1.55%. Toromont Industries’s payout ratio is 30.09%.

Insiders Place Their Bets

In other Toromont Industries news, Senior Officer Mike Cuddy sold 4,800 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of C$125.10, for a total transaction of C$600,480.00. In related news, Senior Officer Mike Cuddy sold 4,800 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of C$125.10, for a total value of C$600,480.00. Also, Senior Officer Jennifer Cochrane sold 3,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of C$128.00, for a total value of C$384,000.00. Over the last quarter, insiders have sold 21,700 shares of company stock valued at $2,727,180. 0.27% of the stock is currently owned by corporate insiders.

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 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.