Toromont Industries (TSE:TIH) Price Target Raised to C$208.00

Toromont Industries (TSE:TIH) had its target price upped by Scotiabank from C$181.00 to C$208.00 in a report published on Wednesday,BayStreet.CA reports.

Other analysts have also issued research reports about the company. Royal Bank Of Canada boosted their price target on Toromont Industries from C$180.00 to C$207.00 in a report on Thursday, February 12th. BMO Capital Markets upped their target price on Toromont Industries from C$196.00 to C$210.00 in a report on Thursday, February 12th. Canaccord Genuity Group increased their price target on Toromont Industries from C$172.00 to C$200.00 in a research report on Friday, February 13th. TD Securities lifted their price objective on Toromont Industries from C$195.00 to C$228.00 and gave the company a “buy” rating in a report on Tuesday. Finally, National Bank Financial upped their price objective 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. 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, Toromont Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of C$198.63.

Toromont Industries Stock Performance

Toromont Industries stock opened at C$201.38 on Wednesday. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The firm has a market capitalization of C$16.40 billion, a P/E ratio of 33.18, a price-to-earnings-growth ratio of 3.72 and a beta of 0.52. Toromont Industries has a 1-year low of C$107.32 and a 1-year high of C$207.86. The company’s 50-day moving average is C$177.14 and its 200 day moving average is C$162.33.

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

Toromont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, January 5th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, December 5th. Toromont Industries’s dividend payout ratio is currently 34.27%.

Insiders Place Their Bets

In related news, insider Jennifer Cochrane sold 5,000 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of C$165.00, for a total transaction of C$825,000.00. Following the transaction, the insider directly owned 12,012 shares in the company, valued at C$1,981,980. The trade was a 29.39% decrease in their position. 0.27% of the stock is currently owned by company insiders.

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.