Toromont Industries (TSE:TIH) Sets New 52-Week High – Still a Buy?

Toromont Industries Ltd. (TSE:TIH)’s stock price reached a new 52-week high on Thursday . The company traded as high as C$195.39 and last traded at C$195.39, with a volume of 400733 shares trading hands. The stock had previously closed at C$183.25.

Analyst Upgrades and Downgrades

TIH has been the topic of several analyst reports. Canadian Imperial Bank of Commerce lifted their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a research note on Friday, February 6th. Royal Bank Of Canada raised their price target 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. Canaccord Genuity Group upped their price objective on shares of Toromont Industries from C$160.00 to C$172.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. CIBC World Markets increased their target price on shares of Toromont Industries from C$172.00 to C$180.00 in a report on Saturday, February 7th. Finally, Scotiabank boosted their price target on Toromont Industries from C$171.00 to C$175.00 and gave the company a “sector perform” rating in a report on Monday, November 3rd. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$176.22.

Toromont Industries Stock Up 6.6%

The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The firm has a market capitalization of C$15.90 billion, a P/E ratio of 32.30, a price-to-earnings-growth ratio of 3.72 and a beta of 0.52. The company’s fifty day simple moving average is C$171.75 and its 200 day simple moving average is C$159.30.

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

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, January 5th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, December 5th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. Toromont Industries’s dividend payout ratio is 33.72%.

Insider Activity

In other news, insider Jennifer Cochrane sold 5,000 shares of the firm’s 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 completion of the transaction, the insider owned 12,012 shares in the company, valued at C$1,981,980. This trade represents a 29.39% decrease in their position. Corporate insiders own 0.27% of the company’s stock.

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.