Toromont Industries (TSE:TIH – Free Report) had its price objective lowered by National Bankshares from C$137.00 to C$132.00 in a research report released on Friday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.
Several other research analysts have also recently weighed in on TIH. TD Securities reduced their price target on Toromont Industries from C$145.00 to C$140.00 and set a buy rating for the company in a research report on Friday. Raymond James increased their price target on shares of Toromont Industries from C$125.00 to C$135.00 and gave the stock an outperform rating in a report on Thursday, February 15th. CIBC raised their price target on shares of Toromont Industries from C$123.00 to C$130.00 and gave the company a neutral rating in a research report on Thursday, February 15th. BMO Capital Markets upped their price objective on shares of Toromont Industries from C$124.00 to C$130.00 and gave the stock an outperform rating in a research report on Wednesday, February 14th. Finally, Canaccord Genuity Group increased their price target on Toromont Industries from C$123.00 to C$138.00 and gave the stock a buy rating in a research report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of C$133.13.
Get Our Latest Research Report on Toromont Industries
Toromont Industries Stock Up 1.1 %
Toromont Industries (TSE:TIH – Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share for the quarter, topping the consensus estimate of C$1.73 by C$0.13. The company had revenue of C$1.23 billion for the quarter, compared to the consensus estimate of C$1.19 billion. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. As a group, equities research analysts forecast that Toromont Industries will post 6.3025012 earnings per share for the current year.
Toromont Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 7th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.55%. The ex-dividend date is Friday, June 7th. Toromont Industries’s payout ratio is 30.09%.
Insider Buying and Selling at Toromont Industries
In other news, Senior Officer Jennifer Cochrane sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of C$125.00, for a total value of C$375,000.00. In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of C$125.00, for a total value of C$375,000.00. Also, Senior Officer Miles Sean Ryan Gregg sold 1,900 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of C$126.45, for a total value of C$240,255.00. Insiders sold 21,700 shares of company stock valued at $2,727,180 over the last quarter. 0.27% of the stock is currently owned by insiders.
Toromont Industries Company Profile
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 engages 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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