Toromont Industries (TSE:TIH) Given New C$134.00 Price Target at Canaccord Genuity Group

Toromont Industries (TSE:TIH) had its target price boosted by Canaccord Genuity Group from C$130.00 to C$134.00 in a research report report published on Thursday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the company. National Bank Financial upgraded Toromont Industries from a “hold” rating to a “strong-buy” rating in a research report on Sunday, December 15th. National Bankshares cut their target price on Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday, November 5th. CIBC boosted their price target on Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a report on Thursday. BMO Capital Markets boosted their price target on Toromont Industries from C$134.00 to C$138.00 in a report on Wednesday. Finally, Royal Bank of Canada lowered their price target on Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$136.28.

Toromont Industries Stock Performance

TSE:TIH opened at C$122.91 on Thursday. The stock has a fifty day moving average price of C$115.34 and a 200-day moving average price of C$121.14. The company has a market cap of C$10.02 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 23.04, a quick ratio of 1.38 and a current ratio of 2.37. Toromont Industries has a fifty-two week low of C$109.83 and a fifty-two week high of C$135.53.

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, January 6th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.56%. Toromont Industries’s payout ratio is presently 31.18%.

Insiders Place Their Bets

In other news, Director Jeffrey Scott Chisholm bought 4,500 shares of the stock in a transaction on Tuesday, December 10th. The stock was acquired at an average price of C$111.45 per share, with a total value of C$501,525.00. 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.