Toromont Industries (TSE:TIH) Price Target Raised to C$129.00

Toromont Industries (TSE:TIH) had its price objective hoisted by CIBC from C$128.00 to C$129.00 in a report published on Monday,BayStreet.CA reports.

Other equities research analysts have also recently issued reports about the stock. Scotiabank decreased their price target on shares of Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. National Bankshares cut their target price on Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday, November 5th. Raymond James decreased their price objective on Toromont Industries from C$132.00 to C$122.00 in a report on Wednesday, November 6th. Royal Bank of Canada lowered their target price on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Finally, National Bank Financial raised Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$135.13.

Toromont Industries Stock Up 2.0 %

TIH stock opened at C$116.83 on Monday. The company has a market cap of C$9.57 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 3.72 and a beta of 0.68. Toromont Industries has a 12-month low of C$109.83 and a 12-month 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. The company has a 50 day moving average of C$114.96 and a two-hundred day moving average of C$121.37.

Toromont Industries (TSE:TIH) last posted its earnings results on Monday, November 4th. The company reported C$1.59 earnings per share for the quarter, missing the consensus estimate of C$1.67 by C($0.08). Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. During the same period last year, the business earned $1.76 earnings per share. On average, equities analysts anticipate that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, January 6th were paid a $0.48 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.64%. Toromont Industries’s payout ratio is presently 30.62%.

Insider Buying and Selling at Toromont Industries

In other news, Director Jeffrey Scott Chisholm bought 4,500 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were bought at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. 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.