Toromont Industries (TSE:TIH) had its price target increased by stock analysts at CIBC from C$69.00 to C$75.00 in a research note issued on Wednesday, BayStreet.CA reports. CIBC’s price target indicates a potential upside of 6.04% from the stock’s current price.
Several other research analysts have also recently weighed in on TIH. National Bank Financial increased their price objective on Toromont Industries from C$79.00 to C$82.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Raymond James reiterated an “outperform” rating and issued a C$75.00 target price on shares of Toromont Industries in a report on Wednesday, November 6th. Canaccord Genuity lifted their target price on Toromont Industries from C$67.00 to C$69.00 in a report on Monday. TD Securities lifted their target price on Toromont Industries from C$74.00 to C$76.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada lifted their target price on Toromont Industries from C$64.00 to C$70.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of C$73.75.
TIH traded down C$0.31 during trading hours on Wednesday, reaching C$70.73. The company’s stock had a trading volume of 17,234 shares, compared to its average volume of 90,817. Toromont Industries has a 52 week low of C$56.19 and a 52 week high of C$71.93. The company’s 50-day moving average is C$69.37 and its 200-day moving average is C$65.88. The company has a debt-to-equity ratio of 46.75, a quick ratio of 0.66 and a current ratio of 1.63. The firm has a market cap of $5.81 billion and a PE ratio of 20.69.
Toromont Industries (TSE:TIH) last posted its quarterly earnings results on Monday, November 4th. The company reported C$0.97 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.95 by C$0.02. The business had revenue of C$975.22 million during the quarter, compared to the consensus estimate of C$959.40 million. Equities analysts anticipate that Toromont Industries will post 3.9300003 earnings per share for the current fiscal year.
In related news, Senior Officer Paul Randolph Jewer sold 600 shares of Toromont Industries stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of C$70.01, for a total transaction of C$42,006.00. Following the transaction, the insider now owns 6,900 shares of the company’s stock, valued at C$483,069. Also, Director David Allan Malinauskas sold 5,200 shares of Toromont Industries stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of C$70.10, for a total value of C$364,520.00. Following the transaction, the director now directly owns 2,070 shares in the company, valued at approximately C$145,107. In the last ninety days, insiders have sold 6,143 shares of company stock worth $430,772.
About Toromont Industries
Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.
Further Reading: Guidelines for Successful Channel Trading
Receive News & Ratings for Toromont Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toromont Industries and related companies with MarketBeat.com's FREE daily email newsletter.