Toromont Industries (TSE:TIH) Stock Gets Price Target Increase from Stifel Nicolaus

Toromont Industries (TSE:TIH) had its target price hoisted by equities research analysts at Stifel Nicolaus from C$250.00 to C$260.00 in a research note issued to investors on Wednesday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus‘s price objective suggests a potential upside of 29.73% from the stock’s current price.

Several other brokerages also recently issued reports on TIH. Raymond James Financial lifted their price target on shares of Toromont Industries from C$235.00 to C$250.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Canaccord Genuity Group decreased their price objective on shares of Toromont Industries from C$260.00 to C$250.00 and set a “buy” rating on the stock in a research note on Wednesday. Royal Bank Of Canada decreased their price objective on shares of Toromont Industries from C$265.00 to C$261.00 and set an “outperform” rating on the stock in a research note on Tuesday. BMO Capital Markets raised their price objective on shares of Toromont Industries from C$247.00 to C$248.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, Scotiabank lifted their target price on shares of Toromont Industries from C$239.00 to C$244.00 and gave the company a “sector outperform” rating in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toromont Industries has a consensus rating of “Moderate Buy” and a consensus price target of C$246.60.

Toromont Industries Price Performance

Toromont Industries stock traded down C$8.98 during mid-day trading on Wednesday, hitting C$200.42. 232,629 shares of the company were exchanged, compared to its average volume of 280,274. The company has a quick ratio of 1.38, a current ratio of 2.73 and a debt-to-equity ratio of 24.76. The business has a fifty day moving average of C$209.47 and a 200 day moving average of C$209.53. Toromont Industries has a 1-year low of C$155.85 and a 1-year high of C$243.50. The company has a market capitalization of C$16.35 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 3.72 and a beta of 0.83.

Toromont Industries (TSE:TIH) last issued its quarterly earnings data on Monday, November 2nd. The company reported C$2.33 earnings per share (EPS) for the quarter. Toromont Industries had a return on equity of 15.53% and a net margin of 9.26%. The company had revenue of C$1.65 billion during the quarter. As a group, sell-side analysts expect that Toromont Industries will post 6.59 earnings per share for the current year.

About Toromont Industries

Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.