Toromont Industries Ltd. (TSE:TIH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Toromont Industries Ltd. (TSE:TIH) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is C$174.75.

Several analysts recently commented on the stock. Scotiabank increased their price objective on shares of Toromont Industries from C$171.00 to C$175.00 and gave the company a “sector perform” rating in a research report on Monday, November 3rd. BMO Capital Markets increased their price target on shares of Toromont Industries to C$178.00 in a report on Friday, October 31st. TD Securities raised their price target on shares of Toromont Industries from C$180.00 to C$195.00 in a research report on Wednesday. Raymond James Financial upped their price objective on Toromont Industries from C$125.00 to C$150.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Finally, Royal Bank Of Canada increased their target price on Toromont Industries from C$151.00 to C$180.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd.

Insiders Place Their Bets

In other Toromont Industries news, insider Jennifer Cochrane sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total transaction 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 represents a 29.39% decrease in their position. Company insiders own 0.27% of the company’s stock.

Toromont Industries Stock Up 0.7%

Shares of TSE:TIH opened at C$179.23 on Thursday. The stock has a fifty day simple moving average of C$169.45 and a two-hundred day simple moving average of C$157.41. The stock has a market capitalization of C$14.59 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 3.72 and a beta of 0.52. Toromont Industries has a 12-month low of C$107.32 and a 12-month high of C$183.12. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04.

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

Toromont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, January 5th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. Toromont Industries’s dividend payout ratio (DPR) is 33.72%.

About Toromont Industries

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.