Toromont Industries (TSE:TIH) Sets New 12-Month High – Still a Buy?

Toromont Industries Ltd. (TSE:TIH)’s share price reached a new 52-week high during trading on Monday . The company traded as high as C$171.14 and last traded at C$170.72, with a volume of 17270 shares traded. The stock had previously closed at C$167.81.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TIH shares. 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 research note on Monday, November 3rd. National Bankshares lifted their target price on shares of Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. BMO Capital Markets boosted their price target on Toromont Industries to C$178.00 in a report on Friday, October 31st. TD Securities raised their price objective on Toromont Industries from C$179.00 to C$180.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, Canaccord Genuity Group lifted their price objective on Toromont Industries from C$160.00 to C$172.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$172.88.

Toromont Industries Stock Performance

The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The company has a market cap of C$13.77 billion, a PE ratio of 27.97, a P/E/G ratio of 3.72 and a beta of 0.58. The stock’s 50 day simple moving average is C$163.25 and its two-hundred day simple moving average is C$149.43.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Thursday, October 30th. The company reported C$1.72 EPS for the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%.The business had revenue of C$1.31 billion during the quarter. As a group, research analysts anticipate that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current year.

Toromont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, January 5th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, December 5th. Toromont Industries’s dividend payout ratio (DPR) is 33.72%.

Insider Activity

In related news, insider Jennifer Cochrane sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total value of C$825,000.00. Following the transaction, the insider owned 12,012 shares in the company, valued at approximately C$1,981,980. This trade represents a 29.39% decrease in their ownership of the stock. 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.