Toromont Industries (TSE:TIH) Sets New 52-Week High on Analyst Upgrade

Shares of Toromont Industries Ltd. (TSE:TIH) reached a new 52-week high on Wednesday after Scotiabank raised their price target on the stock from C$181.00 to C$208.00. The stock traded as high as C$207.86 and last traded at C$206.52, with a volume of 331529 shares. The stock had previously closed at C$204.93.

Several other equities analysts have also commented on the stock. Raymond James Financial increased their price objective on shares of Toromont Industries from C$172.00 to C$180.00 in a research report on Thursday, February 12th. Canadian Imperial Bank of Commerce upped their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a research report on Friday, February 6th. Canaccord Genuity Group lifted their price target on Toromont Industries from C$172.00 to C$200.00 in a research report on Friday, February 13th. National Bank Financial boosted their price objective on Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Finally, Royal Bank Of Canada upped their price objective on Toromont Industries from C$180.00 to C$207.00 in a research report on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$198.63.

Insider Activity

In other news, insider Jennifer Cochrane sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of C$165.00, for a total value of C$825,000.00. Following the sale, the insider directly owned 12,012 shares in the company, valued at approximately C$1,981,980. This represents a 29.39% decrease in their ownership of the stock. 0.27% of the stock is owned by company insiders.

Toromont Industries Stock Up 1.2%

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 stock has a market cap of C$16.66 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 3.72 and a beta of 0.52. The business has a fifty day moving average of C$176.42 and a 200-day moving average of C$161.91.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Tuesday, February 10th. The company reported C$1.92 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$1.42 billion for the quarter. Equities research analysts anticipate that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current year.

Toromont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, January 5th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, December 5th. Toromont Industries’s payout ratio is presently 34.27%.

Toromont Industries Company Profile

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.