Toromont Industries Ltd. (TIH) Given Consensus Rating of “Hold” by Analysts

Toromont Industries Ltd. (TSE:TIH) has earned an average rating of “Hold” from the eight research firms that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$57.63.

TIH has been the topic of a number of recent analyst reports. Raymond James Financial, Inc. boosted their price target on shares of Toromont Industries from C$58.50 to C$63.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. National Bank Financial restated a “sector perform” rating and issued a C$60.00 price target on shares of Toromont Industries in a research report on Monday, October 23rd. Canaccord Genuity boosted their price target on shares of Toromont Industries from C$50.00 to C$58.00 and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Scotiabank boosted their price target on shares of Toromont Industries from C$53.00 to C$59.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 9th. Finally, BMO Capital Markets restated a “market perform” rating and issued a C$58.00 price target on shares of Toromont Industries in a research report on Monday, October 16th.

Toromont Industries (TSE:TIH) opened at C$56.30 on Monday. Toromont Industries has a 1 year low of C$41.10 and a 1 year high of C$58.44.

In related news, insider David Allan Malinauskas sold 5,400 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of C$57.60, for a total transaction of C$311,040.00. Also, Director Scott Medhurst sold 4,848 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of C$52.50, for a total transaction of C$254,520.00. Insiders have sold a total of 39,348 shares of company stock worth $2,163,950 in the last quarter.

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Toromont Industries Company Profile

Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.

Analyst Recommendations for Toromont Industries (TSE:TIH)

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