Toromont Industries (TSE:TIH) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Toromont Industries (TSE:TIH) had its target price hoisted by analysts at Royal Bank Of Canada from C$234.00 to C$256.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 5.79% from the stock’s current price.

A number of other research analysts have also issued reports on the company. Scotiabank boosted their price target on Toromont Industries from C$181.00 to C$208.00 in a research report on Wednesday, February 18th. Raymond James Financial boosted their target price on Toromont Industries from C$180.00 to C$190.00 and gave the stock a “market perform” rating in a research report on Thursday, April 30th. National Bank Financial increased their price target on shares of Toromont Industries from C$214.00 to C$216.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Canaccord Genuity Group upgraded Toromont Industries from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$200.00 to C$235.00 in a report on Monday, April 27th. Finally, BMO Capital Markets upped their price target on Toromont Industries from C$215.00 to C$228.00 in a report on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Toromont Industries has a consensus rating of “Moderate Buy” and an average price target of C$223.89.

Toromont Industries Stock Up 17.6%

Shares of TIH traded up C$36.27 during midday trading on Thursday, hitting C$241.98. The company had a trading volume of 394,119 shares, compared to its average volume of 254,368. The stock has a market cap of C$19.73 billion, a price-to-earnings ratio of 38.47, a PEG ratio of 3.72 and a beta of 0.98. Toromont Industries has a 52 week low of C$117.38 and a 52 week high of C$243.50. The company’s 50 day moving average price is C$215.84 and its 200 day moving average price is C$194.57. The company has a quick ratio of 1.38, a current ratio of 3.17 and a debt-to-equity ratio of 25.19.

Toromont Industries (TSE:TIH) last issued its earnings results on Tuesday, April 28th. The company reported C$1.13 earnings per share for the quarter. The company had revenue of C$1.23 billion for the quarter. Toromont Industries had a net margin of 9.64% and a return on equity of 16.06%. On average, equities research analysts predict that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Company Profile

Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.