Toromont Industries (TSE:TIH) Price Target Raised to C$228.00 at TD Securities

Toromont Industries (TSE:TIH) had its target price increased by equities research analysts at TD Securities from C$195.00 to C$228.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price suggests a potential upside of 10.07% from the stock’s current price.

A number of other brokerages also recently commented on TIH. Raymond James Financial upped their price objective on Toromont Industries from C$172.00 to C$180.00 in a research note on Thursday, February 12th. Scotiabank lifted 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 upped their target price on shares of Toromont Industries from C$196.00 to C$210.00 in a research report on Thursday, February 12th. Canaccord Genuity Group lifted their price target on Toromont Industries from C$172.00 to C$200.00 in a report on Friday. Finally, National Bank Financial boosted their price target on Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Toromont Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of C$194.50.

Toromont Industries Stock Performance

Shares of TSE TIH traded up C$2.22 during trading on Tuesday, reaching C$207.15. The stock had a trading volume of 216,963 shares, compared to its average volume of 218,737. 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 stock has a market cap of C$16.87 billion, a PE ratio of 34.13, a P/E/G ratio of 3.72 and a beta of 0.52. Toromont Industries has a one year low of C$107.32 and a one year high of C$207.86. The firm’s 50 day moving average price is C$174.09 and its two-hundred day moving average price is C$160.86.

Toromont Industries (TSE:TIH) last issued its earnings results on Tuesday, February 10th. The company reported C$1.92 earnings per share for the quarter. The company had revenue of C$1.42 billion for the quarter. Toromont Industries had a net margin of 10.09% and a return on equity of 17.74%. On average, research analysts forecast that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jennifer Cochrane sold 5,000 shares of the stock in a transaction on 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 C$1,981,980. This represents a 29.39% decrease in their position. Corporate 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.