CIBC Trims Toromont Industries (TSE:TIH) Target Price to C$128.00

Toromont Industries (TSE:TIH) had its price objective lowered by CIBC from C$130.00 to C$128.00 in a report released on Friday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

A number of other brokerages also recently commented on TIH. TD Securities lowered their price objective on Toromont Industries from C$145.00 to C$140.00 and set a buy rating for the company in a research report on Friday. Canaccord Genuity Group upped their price objective on shares of 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. Raymond James decreased their target price on shares of Toromont Industries from C$135.00 to C$132.00 and set a market perform rating on the stock in a research report on Friday. National Bankshares lowered their target price on shares of Toromont Industries from C$137.00 to C$132.00 and set an outperform rating for the company in a report on Friday. Finally, Royal Bank of Canada cut their price target on shares of Toromont Industries from C$140.00 to C$137.00 and set an outperform rating on the stock in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of C$132.75.

Toromont Industries Trading Down 0.4 %

Shares of TIH stock opened at C$122.28 on Friday. Toromont Industries has a twelve month low of C$100.81 and a twelve month high of C$135.53. The company has a market capitalization of C$10.06 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 3.72 and a beta of 0.72. The firm has a 50-day moving average price of C$128.32 and a 200 day moving average price of C$119.40. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 25.41.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.73 by C$0.13. The business had revenue of C$1.23 billion for the quarter, compared to the consensus estimate of C$1.19 billion. Toromont Industries had a net margin of 11.57% and a return on equity of 21.13%. Research analysts forecast that Toromont Industries will post 6.3025012 earnings per share for the current fiscal year.

Toromont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, June 7th. This represents a $1.92 dividend on an annualized basis and a yield of 1.57%. Toromont Industries’s dividend payout ratio (DPR) is 30.09%.

Insider Transactions at Toromont Industries

In related news, Director David Allan Malinauskas sold 8,700 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.25, for a total value of C$1,089,675.00. In other news, Senior Officer Jennifer Cochrane sold 3,000 shares of Toromont Industries stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of C$125.00, for a total transaction of C$375,000.00. Also, Director David Allan Malinauskas sold 8,700 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of C$125.25, for a total transaction of C$1,089,675.00. Insiders sold 21,700 shares of company stock valued at $2,727,180 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Toromont Industries Company Profile

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.