Toromont Industries (TSE:TIH) Lowered to “Sector Perform” at National Bankshares

Toromont Industries (TSE:TIH) was downgraded by investment analysts at National Bankshares from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Tuesday, BayStreet.CA reports.

TIH has been the topic of a number of other research reports. Royal Bank of Canada upped their target price on Toromont Industries from C$137.00 to C$142.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. TD Securities increased their price target on Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets increased their price target on Toromont Industries from C$136.00 to C$143.00 in a research report on Friday. Finally, Scotiabank set a C$136.00 target price on Toromont Industries and gave the company a “sector perform” rating in a report on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$138.00.

Toromont Industries Stock Down 3.7 %

Shares of TIH traded down C$4.95 during trading hours on Tuesday, hitting C$129.72. The company had a trading volume of 72,021 shares, compared to its average volume of 104,061. The company has a market capitalization of C$10.63 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. Toromont Industries has a one year low of C$100.81 and a one year high of C$135.53. The company’s fifty day moving average price is C$126.73 and its two-hundred day moving average price is C$125.03.

Toromont Industries (TSE:TIH) last posted its quarterly earnings results on Tuesday, July 30th. The company reported C$1.64 earnings per share for the quarter, beating the consensus estimate of C$1.53 by C$0.11. The business had revenue of C$1.36 billion for the quarter, compared to the consensus estimate of C$1.19 billion. Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. As a group, equities analysts forecast that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Peter James Blake purchased 300 shares of the stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of C$122.53 per share, for a total transaction of C$36,758.01. In related news, Director David Allan Malinauskas sold 2,500 shares of Toromont Industries stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. Also, Director Peter James Blake bought 300 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of C$122.53 per share, with a total value of C$36,758.01. Over the last three months, insiders sold 5,500 shares of company stock worth $677,864. Company 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.