National Bank Financial Issues Positive Forecast for Toromont Industries (TSE:TIH) Stock Price

Toromont Industries (TSE:TIH) had its price objective increased by National Bank Financial from C$214.00 to C$216.00 in a research report sent to investors on Thursday,BayStreet.CA reports. National Bank Financial currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets raised their target price on shares of Toromont Industries from C$215.00 to C$228.00 in a research note on Wednesday. Canadian Imperial Bank of Commerce raised their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a research note on Friday, February 6th. Raymond James Financial raised their target price on shares of Toromont Industries from C$180.00 to C$190.00 and gave the company a “market perform” rating in a research note on Thursday. Scotia raised their target price on shares of Toromont Industries from C$208.00 to C$229.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, Canaccord Genuity Group raised shares of Toromont Industries from a “hold” rating to a “buy” rating and increased their price target for the company from C$200.00 to C$235.00 in a report on Monday. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$216.44.

Toromont Industries Trading Up 0.2%

Shares of TSE:TIH opened at C$211.22 on Thursday. Toromont Industries has a 52-week low of C$108.51 and a 52-week high of C$217.97. The company has a market capitalization of C$17.20 billion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 3.72 and a beta of 0.91. The company has a 50-day simple moving average of C$202.94 and a 200 day simple moving average of C$181.13. The company has a debt-to-equity ratio of 25.19, a quick ratio of 1.38 and a current ratio of 3.17.

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. Toromont Industries had a net margin of 9.64% and a return on equity of 16.06%. The business had revenue of C$1.23 billion during the quarter. Sell-side analysts forecast that Toromont Industries will post 6.5892495 earnings per share for the current year.

Toromont Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd were issued a $0.56 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $2.24 annualized dividend and a yield of 1.1%. This is an increase from Toromont Industries’s previous quarterly dividend of $0.52. Toromont Industries’s payout ratio is currently 34.27%.

Insiders Place Their Bets

In other Toromont Industries news, Director David Allan Malinauskas sold 972 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of C$201.60, for a total value of C$195,955.20. 0.27% of the stock is currently owned by corporate insiders.

Toromont Industries News Roundup

Here are the key news stories impacting Toromont Industries this week:

• Positive Sentiment: National Bank Financial raised its price target from C$214 to C$216 and kept an “outperform” rating, signaling modest upside from current levels. Article Title
• Positive Sentiment: Royal Bank of Canada lifted its target sharply from C$207 to C$234 and maintains an “outperform” view — a more bullish read that supports upside for the shares. Article Title
• Positive Sentiment: BMO Capital Markets increased its target from C$215 to C$228, another upward revision from a major bank that adds conviction to the rally. Article Title
• Positive Sentiment: Scotiabank raised its target from C$208 to C$229 and kept a “sector perform” stance — the higher target is supportive even if the rating is more neutral. Article Title Ticker Report
• Neutral Sentiment: Toromont announced the election of its board of directors — a routine governance update without new strategic or financial guidance. TOROMONT ANNOUNCES ELECTION OF BOARD OF DIRECTORS
• Negative Sentiment: Raymond James raised its target from C$180 to C$190 but still rates the stock “market perform” and its target implies a meaningful downside versus current levels — a cautionary view that could limit upside if others temper expectations. Article Title

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.