Toromont Industries Ltd. (TSE:TIH) Given Consensus Rating of “Moderate Buy” by Brokerages

Toromont Industries Ltd. (TSE:TIH) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is C$198.63.

A number of brokerages recently commented 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 research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce boosted their target price on Toromont Industries from C$172.00 to C$180.00 in a research report on Friday, February 6th. Royal Bank Of Canada increased their target price on Toromont Industries from C$180.00 to C$207.00 in a research note on Thursday, February 12th. BMO Capital Markets raised their price target on Toromont Industries from C$196.00 to C$210.00 in a report on Thursday, February 12th. Finally, Scotiabank lifted their price target on Toromont Industries from C$181.00 to C$208.00 in a research note on Wednesday, February 18th.

Insider Activity at Toromont Industries

In other news, Director David Allan Malinauskas sold 972 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of C$201.60, for a total transaction of C$195,955.20. Insiders own 0.27% of the company’s stock.

Toromont Industries Stock Performance

Shares of TIH opened at C$190.54 on Friday. The stock has a market capitalization of C$15.52 billion, a P/E ratio of 31.39, a P/E/G ratio of 3.72 and a beta of 0.89. The company has a debt-to-equity ratio of 25.87, a quick ratio of 1.38 and a current ratio of 2.93. Toromont Industries has a 1 year low of C$107.32 and a 1 year high of C$215.58. The company’s fifty day moving average is C$193.39 and its two-hundred day moving average is C$171.99.

Toromont Industries (TSE:TIH) last released its earnings results on Tuesday, February 10th. The company reported C$1.92 EPS for the quarter. The company had revenue of C$1.42 billion during the quarter. Toromont Industries had a net margin of 9.54% and a return on equity of 15.97%. On average, sell-side analysts predict that Toromont Industries will post 6.5892495 earnings per share for the current year.

Toromont Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, March 6th. This is an increase from Toromont Industries’s previous quarterly dividend of $0.52. Toromont Industries’s payout ratio is presently 34.27%.

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.