BMO Capital Markets Forecasts Strong Price Appreciation for Toromont Industries (TSE:TIH) Stock

Toromont Industries (TSE:TIH) had its price objective raised by stock analysts at BMO Capital Markets from C$215.00 to C$228.00 in a report issued on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential upside of 8.12% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Raymond James Financial raised their price objective on shares of Toromont Industries from C$172.00 to C$180.00 in a research report on Thursday, February 12th. Scotiabank raised their price objective on shares of Toromont Industries from C$181.00 to C$208.00 in a research report on Wednesday, February 18th. TD Securities raised their price objective on shares of Toromont Industries from C$195.00 to C$228.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. National Bank Financial raised their price objective on shares of Toromont Industries from C$208.00 to C$214.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 8th. Finally, Royal Bank Of Canada raised their price objective on shares of Toromont Industries from C$180.00 to C$207.00 in a research report on Thursday, February 12th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$210.00.

Toromont Industries Stock Performance

TSE:TIH traded up C$2.02 during mid-day trading on Wednesday, hitting C$210.88. The stock had a trading volume of 303,050 shares, compared to its average volume of 256,199. Toromont Industries has a twelve month low of C$108.51 and a twelve month high of C$217.97. The stock has a market cap of C$17.18 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 3.72 and a beta of 0.91. The company’s 50 day simple moving average is C$202.63 and its 200 day simple moving average is C$180.71. The company has a debt-to-equity ratio of 25.87, a quick ratio of 1.38 and a current ratio of 2.93.

Toromont Industries (TSE:TIH) last issued its earnings results on Tuesday, April 28th. The company reported C$1.13 earnings per share (EPS) for the quarter. The business had revenue of C$1.23 billion during the quarter. Toromont Industries had a net margin of 9.54% and a return on equity of 15.97%. On average, equities research analysts forecast that Toromont Industries will post 6.5892495 earnings per share for the current year.

Insider Buying and Selling at Toromont Industries

In other news, Director David Allan Malinauskas sold 972 shares of Toromont Industries stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of C$201.60, for a total value of C$195,955.20. 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.