Toromont Industries (TSE:TIH) Given New C$207.00 Price Target at Royal Bank Of Canada

Toromont Industries (TSE:TIH) had its price target lifted by stock analysts at Royal Bank Of Canada from C$180.00 to C$207.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Royal Bank Of Canada’s target price suggests a potential upside of 4.36% from the company’s current price.

TIH has been the subject of several other research reports. Canadian Imperial Bank of Commerce raised their price target on Toromont Industries from C$172.00 to C$180.00 in a research report on Friday, February 6th. Canaccord Genuity Group lifted their price objective on Toromont Industries from C$160.00 to C$172.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. National Bank Financial boosted their target price on shares of Toromont Industries from C$164.00 to C$176.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Raymond James Financial raised their price target on shares of Toromont Industries from C$172.00 to C$180.00 in a research note on Thursday. Finally, Scotiabank boosted 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. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$186.11.

Toromont Industries Price Performance

TSE:TIH traded up C$2.97 during mid-day trading on Thursday, hitting C$198.36. 389,331 shares of the company’s stock traded hands, compared to its average volume of 210,160. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. The company has a market cap of C$16.14 billion, a PE ratio of 32.79, a price-to-earnings-growth ratio of 3.72 and a beta of 0.52. The firm’s 50 day simple moving average is C$171.75 and its 200 day simple moving average is C$159.30. Toromont Industries has a 1 year low of C$107.32 and a 1 year high of C$199.12.

Toromont Industries (TSE:TIH) last released its quarterly earnings results on Tuesday, February 10th. The company reported C$1.92 EPS for the quarter. Toromont Industries had a net margin of 10.09% and a return on equity of 17.74%. The business had revenue of C$1.42 billion for the quarter. Sell-side analysts expect that Toromont Industries will post 6.5892495 EPS for the current year.

Insider Transactions at Toromont Industries

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. Company insiders own 0.27% of the company’s stock.

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.