Toromont Industries (TSE:TIH) Hits New 12-Month High – Time to Buy?

Shares of Toromont Industries Ltd. (TSE:TIH) hit a new 52-week high during trading on Thursday . The company traded as high as C$208.14 and last traded at C$207.74, with a volume of 96614 shares trading hands. The stock had previously closed at C$204.79.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TIH. TD Securities raised their price objective on shares of Toromont Industries from C$195.00 to C$228.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. National Bank Financial lifted their price target on shares of Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Raymond James Financial boosted their price objective on shares of Toromont Industries from C$172.00 to C$180.00 in a research note on Thursday, February 12th. BMO Capital Markets increased their price objective on Toromont Industries from C$196.00 to C$210.00 in a report on Thursday, February 12th. Finally, Scotiabank lifted their target price on Toromont Industries from C$181.00 to C$208.00 in a report on Wednesday, February 18th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$198.63.

Toromont Industries Stock Performance

The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The company has a 50-day moving average price of C$181.57 and a two-hundred day moving average price of C$164.60. The stock has a market capitalization of C$17.24 billion, a P/E ratio of 34.88, a price-to-earnings-growth ratio of 3.72 and a beta of 0.52.

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 business had revenue of C$1.42 billion during the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%. On average, equities analysts forecast that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current year.

Toromont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, January 5th were paid 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 yield of 1.0%. Toromont Industries’s dividend payout ratio is currently 34.27%.

Insider Buying and Selling

In other 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 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.