Toromont Industries (TIH) – Research Analysts’ Weekly Ratings Changes

Toromont Industries (TSE: TIH) recently received a number of ratings updates from brokerages and research firms:

  • 11/6/2019 – Toromont Industries had its price target raised by analysts at Royal Bank of Canada from C$64.00 to C$70.00. They now have a “sector perform” rating on the stock.
  • 11/6/2019 – Toromont Industries had its “outperform” rating reaffirmed by analysts at Raymond James. They now have a C$75.00 price target on the stock.
  • 11/6/2019 – Toromont Industries had its price target raised by analysts at National Bank Financial from C$71.00 to C$79.00. They now have an “outperform” rating on the stock.
  • 11/6/2019 – Toromont Industries had its price target raised by analysts at TD Securities from C$74.00 to C$76.00. They now have a “buy” rating on the stock.

TIH opened at C$69.35 on Tuesday. The company has a market capitalization of $5.72 billion and a price-to-earnings ratio of 20.28. The company has a quick ratio of 0.66, a current ratio of 1.63 and a debt-to-equity ratio of 46.75. The firm has a 50-day moving average price of C$66.52 and a 200-day moving average price of C$63.57. Toromont Industries Ltd has a twelve month low of C$51.02 and a twelve month high of C$71.15.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $0.27 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.08 annualized dividend and a dividend yield of 1.56%. Toromont Industries’s payout ratio is 30.42%.

In related news, Director David Allan Malinauskas sold 5,200 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of C$70.10, for a total transaction of C$364,520.00. Following the completion of the transaction, the director now owns 2,070 shares of the company’s stock, valued at C$145,107. Also, Senior Officer Paul Randolph Jewer sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of C$70.01, for a total transaction of C$42,006.00. Following the transaction, the insider now directly owns 6,900 shares of the company’s stock, valued at approximately C$483,069. Insiders sold 9,243 shares of company stock valued at $627,707 in the last quarter.

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.

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