Toromont Industries (TSE:TIH) Price Target Raised to C$195.00

Toromont Industries (TSE:TIH) had its target price boosted by TD Securities from C$180.00 to C$195.00 in a research note issued to investors on Wednesday,BayStreet.CA reports.

Other analysts have also issued research reports about the company. Royal Bank Of Canada upped their price objective on Toromont Industries from C$151.00 to C$180.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Scotiabank boosted their price target on shares of Toromont Industries from C$171.00 to C$175.00 and gave the stock a “sector perform” rating in a research report on Monday, November 3rd. Canaccord Genuity Group boosted their price objective on Toromont Industries from C$160.00 to C$172.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. BMO Capital Markets boosted their target price on shares of Toromont Industries to C$178.00 in a research note on Friday, October 31st. Finally, Canadian Imperial Bank of Commerce lifted their price target on Toromont Industries from C$168.00 to C$172.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$175.75.

Toromont Industries Stock Up 1.9%

Shares of Toromont Industries stock opened at C$184.71 on Wednesday. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. Toromont Industries has a 1-year low of C$107.32 and a 1-year high of C$185.17. The business’s fifty day moving average price is C$170.21 and its two-hundred day moving average price is C$157.97. The company has a market capitalization of C$15.03 billion, a P/E ratio of 30.53, a PEG ratio of 3.72 and a beta of 0.52.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Thursday, October 30th. The company reported C$1.72 EPS 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. As a group, research analysts forecast that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, January 5th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, December 5th. Toromont Industries’s payout ratio is 33.72%.

Insider Buying and Selling

In other Toromont Industries news, insider Jennifer Cochrane sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total transaction of C$825,000.00. Following the completion of the transaction, the insider directly owned 12,012 shares in the company, valued at approximately C$1,981,980. This trade represents a 29.39% decrease in their position. Insiders own 0.27% of the company’s stock.

About Toromont Industries

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. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.