Toromont Industries Ltd. (TSE:TIH) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Toromont Industries Ltd. (TSE:TIH) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$136.06.

Several equities analysts recently commented on TIH shares. CIBC raised their target price on Toromont Industries from C$129.00 to C$131.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Canaccord Genuity Group lifted their price objective on Toromont Industries from C$130.00 to C$134.00 and gave the company a “buy” rating in a report on Thursday, February 13th. BMO Capital Markets upped their target price on shares of Toromont Industries from C$134.00 to C$138.00 in a report on Wednesday, February 12th. National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a report on Sunday, December 15th. Finally, Raymond James upped their price objective on shares of Toromont Industries from C$122.00 to C$130.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th.

Toromont Industries Stock Performance

Shares of TSE TIH opened at C$123.07 on Thursday. Toromont Industries has a one year low of C$109.83 and a one year high of C$135.53. The company has a current ratio of 2.37, a quick ratio of 1.38 and a debt-to-equity ratio of 23.04. The business has a fifty day simple moving average of C$116.36 and a 200 day simple moving average of C$120.96. The firm has a market capitalization of C$10.04 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 3.72 and a beta of 0.68.

Toromont Industries Announces Dividend

The firm also recently announced 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 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 31.18%.

Insider Transactions at Toromont Industries

In related news, Director Jeffrey Scott Chisholm acquired 4,500 shares of the stock in a transaction dated Tuesday, December 10th. The stock was bought at an average price of C$111.45 per share, with a total value of C$501,525.00. 0.27% of the stock is currently owned by insiders.

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.