Brokerages Set Toromont Industries Ltd. (TSE:TIH) PT at C$216.44

Toromont Industries Ltd. (TSE:TIH) has received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$216.44.

TIH has been the subject of several research analyst reports. National Bank Financial increased their price objective on shares of Toromont Industries from C$214.00 to C$216.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Canaccord Genuity Group raised shares of Toromont Industries from a “hold” rating to a “buy” rating and increased their price objective for the company from C$200.00 to C$235.00 in a research report on Monday, April 27th. Scotiabank increased their price objective on shares of Toromont Industries from C$181.00 to C$208.00 in a research report on Wednesday, February 18th. Royal Bank Of Canada increased their price objective on shares of Toromont Industries from C$207.00 to C$234.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Finally, Scotia increased their price objective on shares of Toromont Industries from C$208.00 to C$229.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th.

Insider Transactions at Toromont Industries

In other Toromont Industries news, Director David Allan Malinauskas sold 972 shares of the firm’s stock in a transaction that occurred 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. Corporate insiders own 0.27% of the company’s stock.

Toromont Industries Stock Performance

Shares of Toromont Industries stock opened at C$222.66 on Friday. The firm has a market capitalization of C$18.15 billion, a P/E ratio of 35.40, a PEG ratio of 3.72 and a beta of 0.96. The company has a quick ratio of 1.38, a current ratio of 3.17 and a debt-to-equity ratio of 25.19. The company has a 50 day moving average price of C$207.01 and a 200 day moving average price of C$187.15. Toromont Industries has a 52 week low of C$116.20 and a 52 week high of C$225.88.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, April 28th. The company reported C$1.13 EPS for the quarter. The firm had revenue of C$1.23 billion during the quarter. Toromont Industries had a net margin of 9.64% and a return on equity of 16.06%. Sell-side analysts expect that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, March 6th. This is an increase from Toromont Industries’s previous quarterly dividend of $0.52. Toromont Industries’s payout ratio is 33.70%.

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.