BMO Capital Markets Increases Toromont Industries (TSE:TIH) Price Target to C$210.00

Toromont Industries (TSE:TIH) had its price objective lifted by equities researchers at BMO Capital Markets from C$196.00 to C$210.00 in a research report issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential upside of 5.87% from the company’s current price.

A number of other research firms also recently commented on TIH. Royal Bank Of Canada boosted their price objective on shares of Toromont Industries from C$151.00 to C$180.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. TD Securities lifted their price objective on shares of Toromont Industries from C$180.00 to C$195.00 in a report on Wednesday, February 4th. Canaccord Genuity Group raised their target price on shares of Toromont Industries from C$160.00 to C$172.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. National Bank Financial boosted their price target on shares of Toromont Industries from C$164.00 to C$176.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Finally, Canadian Imperial Bank of Commerce raised their price target on shares of Toromont Industries from C$172.00 to C$180.00 in a research note on Friday, February 6th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Toromont Industries has a consensus rating of “Moderate Buy” and an average price target of C$186.11.

Toromont Industries Price Performance

Toromont Industries stock traded up C$2.97 during midday trading on Thursday, reaching C$198.36. The company had a trading volume of 389,331 shares, compared to its average volume of 210,160. Toromont Industries has a 12-month low of C$107.32 and a 12-month high of C$199.12. The firm’s fifty day simple moving average is C$171.75 and its 200-day simple moving average is C$159.30. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The company has a market capitalization of C$16.14 billion, a P/E ratio of 32.79, a P/E/G ratio of 3.72 and a beta of 0.52.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Tuesday, February 10th. The company reported C$1.92 earnings per share (EPS) for the quarter. The firm had revenue of C$1.42 billion for the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%. As a group, equities analysts anticipate that Toromont Industries will post 6.5892495 EPS for the current year.

Insider Activity at Toromont Industries

In other news, insider Jennifer Cochrane sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was 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 of the company’s stock, valued at C$1,981,980. This represents a 29.39% decrease in their ownership of the stock. 0.27% of the stock is currently owned by corporate insiders.

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.