Toromont Industries (TSE:TIH) Share Price Crosses Above 200-Day Moving Average of $118.32

Toromont Industries Ltd. (TSE:TIH) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$118.32 and traded as high as C$130.00. Toromont Industries shares last traded at C$129.77, with a volume of 61,602 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada upped their price target on Toromont Industries from C$125.00 to C$140.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. TD Securities boosted their price objective on Toromont Industries from C$130.00 to C$140.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Scotiabank boosted their price objective on Toromont Industries from C$125.00 to C$133.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Canaccord Genuity Group boosted their price objective on Toromont Industries from C$123.00 to C$138.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, National Bankshares set a C$137.00 price objective on Toromont Industries and gave the company an “outperform” rating in a research note on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$135.38.

Toromont Industries Price Performance

The firm has a market capitalization of C$10.68 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72. The company has a debt-to-equity ratio of 25.41, a quick ratio of 1.38 and a current ratio of 2.64. The business has a 50 day simple moving average of C$127.80 and a two-hundred day simple moving average of C$118.32.

Toromont Industries (TSE:TIH) last announced its earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.13. The business had revenue of C$1.23 billion for the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. On average, sell-side analysts expect that Toromont Industries Ltd. will post 6.3025012 EPS for the current fiscal year.

Toromont Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, April 4th were issued a $0.48 dividend. This is a boost from Toromont Industries’s previous quarterly dividend of $0.43. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Thursday, March 7th. Toromont Industries’s dividend payout ratio is presently 30.09%.

Insider Transactions at Toromont Industries

In other news, Senior Officer Mike Cuddy sold 4,800 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of C$125.10, for a total value of C$600,480.00. In other news, Senior Officer Mike Cuddy sold 4,800 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of C$125.10, for a total value of C$600,480.00. Also, Director William John Harvey sold 300 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of C$125.90, for a total value of C$37,770.00. In the last three months, insiders sold 21,700 shares of company stock worth $2,727,180. 0.27% of the stock is currently owned by corporate insiders.

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 engages 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.