Toromont Industries (TSE:TIH) Price Target Raised to C$143.00 at BMO Capital Markets

Toromont Industries (TSE:TIH) had its price target raised by BMO Capital Markets from C$136.00 to C$143.00 in a research note released on Friday morning, BayStreet.CA reports.

Other equities analysts have also issued research reports about the stock. National Bankshares raised their price objective on shares of Toromont Industries from C$132.00 to C$135.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Scotiabank set a C$136.00 target price on shares of Toromont Industries and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. Royal Bank of Canada upped their price target on Toromont Industries from C$137.00 to C$142.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, TD Securities increased their price objective on Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$138.00.

Toromont Industries Stock Up 0.8 %

TIH stock opened at C$134.67 on Friday. The stock has a market cap of C$11.03 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The firm’s 50-day simple moving average is C$126.73 and its 200 day simple moving average is C$125.03. Toromont Industries has a fifty-two week low of C$100.81 and a fifty-two week high of C$135.53. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08.

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

Toromont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, October 2nd were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.92 annualized dividend and a dividend yield of 1.43%. Toromont Industries’s dividend payout ratio (DPR) is presently 30.62%.

Insider Activity at Toromont Industries

In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total value of C$75,114.00. Also, Director Peter James Blake purchased 300 shares of Toromont Industries stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of C$122.53 per share, with a total value of C$36,758.01. Over the last ninety days, insiders have sold 5,500 shares of company stock valued at $677,864. Company insiders own 0.27% of the company’s stock.

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.