Toromont Industries (TSE:TIH) Price Target Cut to C$125.00 by Analysts at Scotiabank

Toromont Industries (TSE:TIH) had its price objective trimmed by Scotiabank from C$133.00 to C$125.00 in a report issued on Friday, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Several other analysts have also weighed in on TIH. BMO Capital Markets raised their price objective on Toromont Industries from C$124.00 to C$130.00 and gave the company an outperform rating in a research note on Wednesday, February 14th. National Bankshares cut their price objective on Toromont Industries from C$137.00 to C$132.00 and set an outperform rating on the stock in a report on Friday. Royal Bank of Canada lowered their target price on Toromont Industries from C$140.00 to C$137.00 and set an outperform rating for the company in a report on Friday. Raymond James cut their price target on Toromont Industries from C$135.00 to C$132.00 and set a market perform rating on the stock in a research note on Friday. Finally, Canaccord Genuity Group upped their price objective on Toromont Industries from C$123.00 to C$138.00 and gave the company a buy rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of C$133.13.

Toromont Industries Stock Up 1.1 %

TIH opened at C$123.64 on Friday. Toromont Industries has a fifty-two week low of C$100.81 and a fifty-two week high of C$135.53. The company has a debt-to-equity ratio of 25.41, a quick ratio of 1.38 and a current ratio of 2.64. The stock has a fifty day moving average of C$128.24 and a 200-day moving average of C$119.52. The company has a market capitalization of C$10.18 billion, a P/E ratio of 19.38, a P/E/G ratio of 3.72 and a beta of 0.72.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 earnings per share for the quarter, beating the consensus estimate of C$1.73 by C$0.13. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. The firm had revenue of C$1.23 billion during the quarter, compared to analysts’ expectations of C$1.19 billion. On average, equities analysts expect that Toromont Industries will post 6.3025012 EPS for the current year.

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 7th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, June 7th. Toromont Industries’s dividend payout ratio is currently 30.09%.

Insider Buying and Selling

In related news, Senior Officer Jennifer Cochrane sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of C$125.00, for a total transaction of C$375,000.00. In related news, Senior Officer Mike Cuddy sold 4,800 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of C$125.10, for a total value of C$600,480.00. Also, Senior Officer Jennifer Cochrane sold 3,000 shares of the stock in a transaction that occurred 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. Insiders sold 21,700 shares of company stock valued at $2,727,180 over the last quarter. Insiders own 0.27% of the company’s stock.

About Toromont Industries

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.